Blue Trust Inc. Acquires 772 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Blue Trust Inc. grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 47.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,385 shares of the data storage provider’s stock after acquiring an additional 772 shares during the quarter. Blue Trust Inc.’s holdings in Seagate Technology were worth $246,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock valued at $2,303,274,000 after purchasing an additional 746,395 shares in the last quarter. Clearbridge Investments LLC raised its stake in Seagate Technology by 14.5% in the first quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock valued at $247,218,000 after purchasing an additional 337,464 shares in the last quarter. Duquesne Family Office LLC raised its stake in Seagate Technology by 22.0% in the second quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock valued at $181,268,000 after purchasing an additional 316,295 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Seagate Technology by 0.9% in the second 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 in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Seagate Technology by 6.2% in the first quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock valued at $64,130,000 after purchasing an additional 40,100 shares in the last quarter. Institutional investors own 92.87% of the company’s stock.

Insiders Place Their Bets

In other Seagate Technology news, Director Jay L. Geldmacher sold 4,100 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total transaction of $423,530.00. Following the transaction, the director now directly owns 2,852 shares in the company, valued at approximately $294,611.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Seagate Technology news, Director Jay L. Geldmacher sold 4,100 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $103.30, for a total transaction of $423,530.00. Following the transaction, the director now directly owns 2,852 shares in the company, valued at approximately $294,611.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at approximately $291,567.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,398 shares of company stock worth $23,238,106. Corporate insiders own 0.89% of the company’s stock.

Seagate Technology Price Performance

Shares of STX stock opened at $103.98 on Friday. The business’s 50 day simple moving average is $105.13 and its 200 day simple moving average is $99.58. Seagate Technology Holdings plc has a one year low of $64.12 and a one year high of $115.32. The stock has a market capitalization of $21.83 billion, a PE ratio of -80.60 and a beta of 1.04.

Seagate Technology (NASDAQ:STX) last announced its earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. Seagate Technology had a negative return on equity of 30.18% and a net margin of 11.34%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the business posted ($0.34) earnings per share. The firm’s revenue was up 49.1% on a year-over-year basis. As a group, research analysts expect that Seagate Technology Holdings plc will post 7.09 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.77%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, December 13th. Seagate Technology’s dividend payout ratio is presently -217.05%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on STX. Evercore ISI boosted their price target on Seagate Technology from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research note on Wednesday. Susquehanna boosted their target price on Seagate Technology from $55.00 to $65.00 and gave the stock a “negative” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities boosted their target price on Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $118.83.

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.