Bank of Montreal Can cut its holdings in Seagate Technology PLC (NASDAQ:STX) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,429,080 shares of the data storage provider’s stock after selling 121,464 shares during the quarter. Bank of Montreal Can’s holdings in Seagate Technology were worth $59,793,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of STX. Franklin Resources Inc. raised its position in Seagate Technology by 659.7% in the second quarter. Franklin Resources Inc. now owns 167,886 shares of the data storage provider’s stock worth $6,506,000 after acquiring an additional 145,787 shares in the last quarter. Riverhead Capital Management LLC raised its position in Seagate Technology by 18.1% in the second quarter. Riverhead Capital Management LLC now owns 12,341 shares of the data storage provider’s stock worth $478,000 after acquiring an additional 1,893 shares in the last quarter. Teachers Advisors LLC raised its position in Seagate Technology by 4.0% in the second quarter. Teachers Advisors LLC now owns 60,852 shares of the data storage provider’s stock worth $2,358,000 after acquiring an additional 2,325 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Seagate Technology by 53.4% in the second quarter. TIAA CREF Investment Management LLC now owns 74,937 shares of the data storage provider’s stock worth $2,904,000 after acquiring an additional 26,097 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Seagate Technology by 5.1% in the second quarter. Nationwide Fund Advisors now owns 274,831 shares of the data storage provider’s stock worth $10,650,000 after acquiring an additional 13,430 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

Several analysts have issued reports on the company. Cross Research upgraded Seagate Technology from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Friday, January 12th. TheStreet upgraded Seagate Technology from a “c+” rating to a “b-” rating in a report on Tuesday, January 9th. Craig Hallum restated a “buy” rating and set a $56.00 price objective (up previously from $50.00) on shares of Seagate Technology in a report on Tuesday, January 9th. Finally, Wells Fargo & Co restated a “market perform” rating and set a $45.00 price objective (up previously from $38.00) on shares of Seagate Technology in a report on Tuesday, January 9th. Four research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Seagate Technology has a consensus rating of “Hold” and a consensus target price of $43.39.

In related news, CFO David H. Morton, Jr. sold 7,909 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $40.00, for a total value of $316,360.00. Following the completion of the sale, the chief financial officer now owns 25,561 shares of the company’s stock, valued at approximately $1,022,440. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Stephen J. Luczo sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $48.99, for a total value of $4,899,000.00. Following the completion of the sale, the chairman now directly owns 95,420 shares of the company’s stock, valued at approximately $4,674,625.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,744 shares of company stock worth $9,317,320. Company insiders own 0.87% of the company’s stock.

Seagate Technology PLC (STX) opened at $52.62 on Friday. The company has a debt-to-equity ratio of 4.03, a quick ratio of 1.55 and a current ratio of 1.96. Seagate Technology PLC has a 12 month low of $30.60 and a 12 month high of $52.77. The firm has a market capitalization of $15,400.00, a PE ratio of 19.93, a price-to-earnings-growth ratio of 0.77 and a beta of 1.68.

Seagate Technology (NASDAQ:STX) last released its earnings results on Monday, October 23rd. The data storage provider reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.10. Seagate Technology had a return on equity of 84.50% and a net margin of 7.41%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. equities research analysts forecast that Seagate Technology PLC will post 4.32 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 20th were paid a dividend of $0.63 per share. The ex-dividend date was Tuesday, December 19th. This represents a $2.52 annualized dividend and a yield of 4.79%. Seagate Technology’s dividend payout ratio (DPR) is presently 95.45%.

WARNING: This article was first posted by Watch List News and is owned by of Watch List News. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://www.watchlistnews.com/seagate-technology-plc-stx-position-decreased-by-bank-of-montreal-can/1814917.html.

Seagate Technology Company Profile

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

Want to see what other hedge funds are holding STX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagate Technology PLC (NASDAQ:STX).

Institutional Ownership by Quarter for Seagate Technology (NASDAQ:STX)

Receive News & Ratings for Seagate Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagate Technology and related companies with MarketBeat.com's FREE daily email newsletter.