Heritage Trust Co Acquires New Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Heritage Trust Co acquired a new stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,697 shares of the data storage provider’s stock, valued at approximately $319,000.

Several other hedge funds have also added to or reduced their stakes in STX. Vanguard Group Inc. boosted its stake in Seagate Technology by 6.9% in the 4th quarter. Vanguard Group Inc. now owns 27,974,117 shares of the data storage provider’s stock worth $2,414,446,000 after purchasing an additional 1,814,821 shares in the last quarter. Geode Capital Management LLC raised its holdings in Seagate Technology by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 4,295,225 shares of the data storage provider’s stock worth $370,013,000 after buying an additional 132,713 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Seagate Technology by 14.6% in the fourth quarter. Invesco Ltd. now owns 2,761,534 shares of the data storage provider’s stock worth $238,348,000 after buying an additional 352,300 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Seagate Technology by 5.7% during the fourth quarter. Franklin Resources Inc. now owns 1,879,855 shares of the data storage provider’s stock valued at $162,250,000 after buying an additional 101,044 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Seagate Technology by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,362,899 shares of the data storage provider’s stock valued at $117,632,000 after acquiring an additional 34,979 shares in the last quarter. 92.87% of the stock is owned by institutional investors.

Seagate Technology Stock Performance

NASDAQ:STX opened at $70.15 on Friday. The stock has a 50-day simple moving average of $89.19 and a two-hundred day simple moving average of $95.86. Seagate Technology Holdings plc has a 52-week low of $63.19 and a 52-week high of $115.32. The firm has a market capitalization of $14.85 billion, a PE ratio of 12.82 and a beta of 1.21.

Seagate Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 19th were given a $0.72 dividend. The ex-dividend date was Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.11%. Seagate Technology’s payout ratio is currently 52.65%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the sale, the chief executive officer now owns 555,677 shares in the company, valued at approximately $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on STX shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $120.00 target price on shares of Seagate Technology in a research note on Wednesday, January 22nd. StockNews.com cut Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Northland Securities reissued an “outperform” rating and issued a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a research report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. Finally, Rosenblatt Securities boosted their price objective on shares of Seagate Technology from $140.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.17.

Seagate Technology 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.