ING Groep NV Cuts Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

ING Groep NV trimmed its position in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,718 shares of the data storage provider’s stock after selling 1,067 shares during the period. ING Groep NV’s holdings in Seagate Technology were worth $1,616,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of STX. Ashton Thomas Securities LLC purchased a new stake in Seagate Technology during the third quarter valued at about $26,000. Advisors Asset Management Inc. lifted its stake in shares of Seagate Technology by 177.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 258 shares during the last quarter. JFS Wealth Advisors LLC boosted its holdings in Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after acquiring an additional 293 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Seagate Technology during the 3rd quarter worth approximately $53,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Seagate Technology in the 3rd quarter worth approximately $54,000. Institutional investors own 92.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on STX shares. Wedbush restated an “outperform” rating and issued a $150.00 target price on shares of Seagate Technology in a report on Wednesday, January 22nd. Mizuho cut their price target 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. Wells Fargo & Company lowered their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Northland Securities reiterated an “outperform” rating and set a $160.00 target price (up from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. Finally, Benchmark upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.56.

Insider Transactions at Seagate Technology

In other Seagate Technology news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the transaction, the director now directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $2,056,600.00. Following the sale, the chief executive officer now owns 622,497 shares in the company, valued at approximately $64,011,366.51. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,891 shares of company stock valued at $2,146,848 in the last ninety days. 0.81% of the stock is currently owned by corporate insiders.

Seagate Technology Price Performance

Shares of Seagate Technology stock opened at $100.85 on Monday. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The firm has a market cap of $21.35 billion, a price-to-earnings ratio of 18.44 and a beta of 1.07. The company has a 50-day moving average of $95.02 and a 200 day moving average of $99.89.

Seagate Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 2.86%. Seagate Technology’s payout ratio is 52.65%.

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.