Bell Bank Grows Stake in Seagate Technology Holdings plc (NASDAQ:STX)

Bell Bank increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,842 shares of the data storage provider’s stock after purchasing an additional 10,198 shares during the quarter. Bell Bank’s holdings in Seagate Technology were worth $6,632,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STX. Blue Trust Inc. boosted its stake in Seagate Technology by 47.9% in the third quarter. Blue Trust Inc. now owns 2,385 shares of the data storage provider’s stock valued at $246,000 after acquiring an additional 772 shares in the last quarter. Raymond James & Associates grew its stake in Seagate Technology by 2.4% during the 3rd quarter. Raymond James & Associates now owns 227,667 shares of the data storage provider’s stock worth $24,936,000 after buying an additional 5,385 shares during the last quarter. Foundations Investment Advisors LLC increased its position in Seagate Technology by 10.2% during the third quarter. Foundations Investment Advisors LLC now owns 2,299 shares of the data storage provider’s stock worth $252,000 after buying an additional 213 shares during the period. Sequoia Financial Advisors LLC increased its position in Seagate Technology by 3.6% during the third quarter. Sequoia Financial Advisors LLC now owns 2,560 shares of the data storage provider’s stock worth $281,000 after buying an additional 89 shares during the period. Finally, Signaturefd LLC lifted its stake in Seagate Technology by 14.0% in the third quarter. Signaturefd LLC now owns 4,875 shares of the data storage provider’s stock valued at $534,000 after buying an additional 600 shares during the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

Seagate Technology Trading Down 1.7 %

STX stock opened at $100.85 on Friday. The company’s 50-day moving average price is $95.02 and its 200 day moving average price is $99.80. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The company has a market cap of $21.35 billion, a P/E ratio of 18.44 and a beta of 1.07.

Seagate Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Analysts Set New Price Targets

A number of brokerages have recently commented on STX. Mizuho cut their target price on shares of Seagate Technology from $130.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Citigroup lifted their price objective on shares of Seagate Technology from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Bank of America upped their target price on shares of Seagate Technology from $124.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Barclays raised their price target on Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 22nd. Finally, Morgan Stanley reduced their price objective on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.56.

Insider Activity at Seagate Technology

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the sale, the chief executive officer now directly owns 622,497 shares in the company, valued at $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the transaction, the director now owns 6,555 shares of the company’s stock, valued at $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,891 shares of company stock valued at $2,146,848 in the last ninety days. Corporate insiders own 0.81% of the company’s stock.

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.