Patton Fund Management Inc. Has $4.87 Million Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Patton Fund Management Inc. reduced its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,431 shares of the data storage provider’s stock after selling 2,398 shares during the period. Patton Fund Management Inc.’s holdings in Seagate Technology were worth $4,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in STX. Vanguard Group Inc. lifted its holdings in shares of Seagate Technology by 3.1% during the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after buying an additional 746,395 shares in the last quarter. Clearbridge Investments LLC increased its position in Seagate Technology by 14.5% during the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after acquiring an additional 337,464 shares during the period. Duquesne Family Office LLC raised its stake in Seagate Technology by 22.0% in the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after purchasing an additional 316,295 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Seagate Technology by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after purchasing an additional 9,062 shares during the period. Finally, Russell Investments Group Ltd. grew its position in shares of Seagate Technology by 6.2% during the 1st quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock worth $64,130,000 after purchasing an additional 40,100 shares in the last quarter. 92.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Seagate Technology

In other news, EVP Ban Seng Teh sold 10,117 shares of Seagate Technology stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the transaction, the executive vice president now owns 5,387 shares in the company, valued at approximately $592,570. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Ban Seng Teh sold 10,117 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total transaction of $1,112,870.00. Following the completion of the transaction, the executive vice president now directly owns 5,387 shares in the company, valued at $592,570. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total value of $1,869,200.00. Following the completion of the sale, the chief executive officer now owns 654,270 shares in the company, valued at $61,148,074.20. 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 ninety days, insiders sold 223,284 shares of company stock worth $23,800,887. 0.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STX shares. TD Cowen lifted their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wells Fargo & Company upped their target price on Seagate Technology from $90.00 to $120.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Rosenblatt Securities increased their target price on Seagate Technology from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Seagate Technology in a research note on Wednesday, July 24th. Finally, UBS Group upped their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $115.94.

Seagate Technology Stock Performance

Shares of STX traded up $1.18 during trading hours on Thursday, reaching $112.91. The stock had a trading volume of 579,107 shares, compared to its average volume of 2,480,637. The stock has a market capitalization of $23.77 billion, a PE ratio of 72.55 and a beta of 1.04. Seagate Technology Holdings plc has a 12 month low of $64.12 and a 12 month high of $115.32. The company’s 50-day moving average is $103.64 and its two-hundred day moving average is $98.86.

Seagate Technology (NASDAQ:STX) last posted its earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.76 by $0.29. The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the company earned ($0.29) earnings per share. Equities analysts anticipate that Seagate Technology Holdings plc will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Monday, September 23rd. Seagate Technology’s payout ratio is 181.82%.

About Seagate Technology

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.