Invesco Ltd. Has $313.12 Million Stake in Seagate Technology Holdings PLC $STX

Invesco Ltd. reduced its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 24.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 2,169,471 shares of the data storage provider’s stock after selling 691,947 shares during the quarter. Invesco Ltd.’s holdings in Seagate Technology were worth $313,120,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Harbor Asset Planning Inc. bought a new stake in Seagate Technology during the 2nd quarter valued at approximately $27,000. MTM Investment Management LLC acquired a new position in shares of Seagate Technology during the second quarter worth approximately $29,000. Zions Bancorporation National Association UT bought a new stake in shares of Seagate Technology in the first quarter valued at approximately $42,000. GoalVest Advisory LLC grew its stake in shares of Seagate Technology by 30.6% in the second quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 75 shares during the last quarter. Finally, Trust Co. of Toledo NA OH bought a new position in Seagate Technology during the second quarter worth $57,000. 92.87% of the stock is currently owned by institutional investors.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $271.03, for a total transaction of $5,420,600.00. Following the completion of the sale, the chief executive officer owned 445,668 shares in the company, valued at approximately $120,789,398.04. The trade was a 4.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the completion of the transaction, the director directly owned 5,601 shares in the company, valued at approximately $1,528,568.91. This trade represents a 11.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 152,011 shares of company stock valued at $39,835,990 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

NASDAQ STX opened at $278.79 on Friday. The stock’s 50 day simple moving average is $249.44 and its 200 day simple moving average is $188.17. Seagate Technology Holdings PLC has a one year low of $63.19 and a one year high of $297.88. The firm has a market cap of $59.54 billion, a PE ratio of 35.79, a price-to-earnings-growth ratio of 1.09 and a beta of 1.59.

Seagate Technology Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 24th will be paid a $0.74 dividend. This is an increase from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Wednesday, December 24th. This represents a $2.96 annualized dividend and a dividend yield of 1.1%. Seagate Technology’s payout ratio is 36.97%.

Analysts Set New Price Targets

Several research firms have recently issued reports on STX. Barclays boosted their price objective on shares of Seagate Technology from $200.00 to $240.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Sanford C. Bernstein boosted their price target on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. China Renaissance began coverage on Seagate Technology in a research report on Friday. They issued a “buy” rating and a $325.00 price objective for the company. Bank of America lifted their price objective on Seagate Technology from $275.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, Loop Capital upped their target price on Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $287.17.

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.