Hanson & Doremus Investment Management reduced its position in shares of Seagate Technology PLC (NASDAQ:STX) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,143 shares of the data storage provider’s stock after selling 2,448 shares during the period. Seagate Technology comprises 1.5% of Hanson & Doremus Investment Management’s portfolio, making the stock its 9th largest position. Hanson & Doremus Investment Management’s holdings in Seagate Technology were worth $5,245,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Seagate Technology by 5.2% in the second quarter. Invesco Ltd. now owns 2,036,970 shares of the data storage provider’s stock worth $95,982,000 after buying an additional 101,002 shares during the last quarter. Voya Investment Management LLC raised its holdings in Seagate Technology by 59.2% in the third quarter. Voya Investment Management LLC now owns 113,637 shares of the data storage provider’s stock valued at $6,112,000 after acquiring an additional 42,238 shares in the last quarter. Windward Capital Management Co. CA raised its holdings in Seagate Technology by 22.9% in the fourth quarter. Windward Capital Management Co. CA now owns 68,600 shares of the data storage provider’s stock valued at $4,082,000 after acquiring an additional 12,767 shares in the last quarter. Evoke Wealth LLC acquired a new stake in Seagate Technology in the third quarter valued at $96,000. Finally, Tuttle Tactical Management raised its holdings in Seagate Technology by 643.6% in the fourth quarter. Tuttle Tactical Management now owns 48,632 shares of the data storage provider’s stock valued at $2,894,000 after acquiring an additional 42,092 shares in the last quarter. Institutional investors and hedge funds own 84.41% of the company’s stock.
STX has been the topic of several recent analyst reports. Craig Hallum cut shares of Seagate Technology from a “buy” rating to a “hold” rating and set a $56.00 price target on the stock. in a report on Friday, September 20th. Susquehanna Bancshares reissued a “sell” rating and set a $40.00 price target on shares of Seagate Technology in a report on Monday, December 16th. Mizuho restated a “hold” rating and set a $53.00 price objective on shares of Seagate Technology in a research note on Friday, November 1st. Stifel Nicolaus started coverage on shares of Seagate Technology in a report on Monday, December 2nd. They issued a “hold” rating and a $62.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Seagate Technology from $61.00 to $66.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $52.53.
Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Friday, November 1st. The data storage provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.03. The company had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.57 billion. Seagate Technology had a net margin of 17.66% and a return on equity of 61.26%. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.70 EPS. Equities analysts predict that Seagate Technology PLC will post 4.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Thursday, December 26th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, December 24th. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.63. This represents a $2.60 annualized dividend and a yield of 4.24%. Seagate Technology’s dividend payout ratio is currently 53.94%.
In other news, Director Stephen J. Luczo sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $59.81, for a total value of $299,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholls Stuart 6,724,138 shares of the stock in a transaction on Friday, November 15th. Over the last three months, insiders have sold 493,533 shares of company stock valued at $28,805,087. Company insiders own 1.12% of the company’s stock.
Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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