PNC Financial Services Group Inc. Sells 336 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

PNC Financial Services Group Inc. decreased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,610 shares of the data storage provider’s stock after selling 336 shares during the period. PNC Financial Services Group Inc.’s holdings in Seagate Technology were worth $3,467,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. CWM LLC boosted its stake in Seagate Technology by 3.9% in the fourth quarter. CWM LLC now owns 3,441 shares of the data storage provider’s stock valued at $294,000 after acquiring an additional 130 shares in the last quarter. Valley National Advisers Inc. increased its position in Seagate Technology by 39.7% during the 4th quarter. Valley National Advisers Inc. now owns 507 shares of the data storage provider’s stock valued at $43,000 after buying an additional 144 shares in the last quarter. Brighton Jones LLC boosted its holdings in Seagate Technology by 0.8% in the fourth quarter. Brighton Jones LLC now owns 18,754 shares of the data storage provider’s stock worth $1,601,000 after acquiring an additional 150 shares in the last quarter. Mariner LLC grew its stake in shares of Seagate Technology by 0.6% during the third quarter. Mariner LLC now owns 29,616 shares of the data storage provider’s stock worth $1,953,000 after acquiring an additional 185 shares during the last quarter. Finally, Capital Investment Advisory Services LLC increased its holdings in shares of Seagate Technology by 4.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 4,655 shares of the data storage provider’s stock valued at $397,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Transactions at Seagate Technology

In other news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP John Christopher Morris sold 11,158 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the transaction, the senior vice president now owns 17,767 shares of the company’s stock, valued at $1,599,030. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ban Seng Teh sold 9,703 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the transaction, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The disclosure for this sale can be found here. Insiders sold 37,531 shares of company stock worth $3,592,946 over the last 90 days. 0.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on STX shares. Morgan Stanley upgraded shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $73.00 to $115.00 in a report on Tuesday, March 26th. Barclays decreased their target price on shares of Seagate Technology from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, April 22nd. Evercore ISI initiated coverage on Seagate Technology in a research note on Tuesday, February 27th. They set an “outperform” rating and a $110.00 price objective for the company. The Goldman Sachs Group raised their target price on Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Finally, Bank of America restated a “buy” rating and issued a $110.00 price objective on shares of Seagate Technology in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $98.29.

Seagate Technology Stock Performance

STX stock opened at $105.99 on Thursday. The business has a 50 day moving average price of $92.79 and a 200 day moving average price of $89.06. Seagate Technology Holdings plc has a fifty-two week low of $57.32 and a fifty-two week high of $107.91.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings data on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the firm posted ($0.43) EPS. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. Analysts forecast that Seagate Technology Holdings plc will post 0.44 EPS for the current fiscal year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, June 20th. Seagate Technology’s payout ratio is currently -217.05%.

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.