Seagate Technology Holdings plc (NASDAQ:STX) Shares Sold by Whittier Trust Co.

Whittier Trust Co. lowered its position in Seagate Technology Holdings plc (NASDAQ:STX) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,452 shares of the data storage provider’s stock after selling 233 shares during the quarter. Whittier Trust Co.’s holdings in Seagate Technology were worth $269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STX. Bessemer Group Inc. increased its stake in shares of Seagate Technology by 68.7% in the first quarter. Bessemer Group Inc. now owns 17,564 shares of the data storage provider’s stock worth $1,634,000 after buying an additional 7,150 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Seagate Technology by 2.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 258,033 shares of the data storage provider’s stock valued at $24,011,000 after purchasing an additional 6,044 shares in the last quarter. Chapin Davis Inc. lifted its position in shares of Seagate Technology by 210.8% during the first quarter. Chapin Davis Inc. now owns 29,152 shares of the data storage provider’s stock worth $2,713,000 after purchasing an additional 19,773 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Seagate Technology by 21.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider’s stock worth $21,677,000 after purchasing an additional 40,649 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Seagate Technology by 15.7% in the first quarter. Illinois Municipal Retirement Fund now owns 60,702 shares of the data storage provider’s stock valued at $5,648,000 after buying an additional 8,242 shares during the last quarter. 92.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on STX shares. Susquehanna lifted their target price on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research report on Wednesday, July 24th. TD Cowen lifted their price objective on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Loop Capital increased their target price on shares of Seagate Technology from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Barclays lifted their price target on shares of Seagate Technology from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $118.83.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at $73,668,110.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP John Christopher Morris sold 1,131 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total transaction of $126,558.90. Following the completion of the sale, the senior vice president now owns 7,191 shares in the company, valued at approximately $804,672.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 214,298 shares of company stock valued at $22,814,576. Corporate insiders own 0.81% of the company’s stock.

Seagate Technology Stock Down 8.1 %

Shares of NASDAQ STX opened at $103.52 on Thursday. The firm’s 50-day simple moving average is $105.04 and its 200 day simple moving average is $99.55. The stock has a market cap of $21.79 billion, a P/E ratio of 67.22 and a beta of 1.04. Seagate Technology Holdings plc has a fifty-two week low of $64.12 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.28. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted ($0.34) EPS. The business’s revenue for the quarter was up 49.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a dividend of $0.72 per share. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a dividend yield of 2.78%. Seagate Technology’s dividend payout ratio (DPR) is 181.82%.

Seagate Technology Company Profile

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.