Seagate Technology PLC (STX) Shares Sold by Raymond James Trust N.A.
Raymond James Trust N.A. decreased its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 11.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,697 shares of the data storage provider’s stock after selling 1,044 shares during the period. Raymond James Trust N.A.’s holdings in Seagate Technology were worth $368,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in shares of Seagate Technology by 11.5% during the third quarter. Bank of New York Mellon Corp now owns 3,646,954 shares of the data storage provider’s stock valued at $172,683,000 after purchasing an additional 375,767 shares during the last quarter. Standard Life Aberdeen plc lifted its holdings in shares of Seagate Technology by 2.5% during the third quarter. Standard Life Aberdeen plc now owns 213,415 shares of the data storage provider’s stock valued at $10,105,000 after purchasing an additional 5,142 shares during the last quarter. Man Group plc lifted its holdings in shares of Seagate Technology by 152.2% during the third quarter. Man Group plc now owns 165,787 shares of the data storage provider’s stock valued at $7,850,000 after purchasing an additional 100,058 shares during the last quarter. Verition Fund Management LLC acquired a new position in Seagate Technology during the third quarter valued at $689,000. Finally, Mackenzie Financial Corp raised its position in Seagate Technology by 4.2% during the third quarter. Mackenzie Financial Corp now owns 109,714 shares of the data storage provider’s stock valued at $5,195,000 after buying an additional 4,446 shares during the period. Institutional investors own 96.05% of the company’s stock.
Shares of STX stock opened at $50.50 on Friday. The company has a current ratio of 1.60, a quick ratio of 1.12 and a debt-to-equity ratio of 2.24. Seagate Technology PLC has a fifty-two week low of $35.38 and a fifty-two week high of $62.13. The stock has a market capitalization of $14.10 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 5.42 and a beta of 1.66.
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Shareholders of record on Wednesday, March 20th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 4.99%. The ex-dividend date was Tuesday, March 19th. Seagate Technology’s payout ratio is currently 45.74%.
Several research analysts recently weighed in on the company. Zacks Investment Research raised Seagate Technology from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. ValuEngine raised Seagate Technology from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $49.00 price target on shares of Seagate Technology in a research report on Thursday, March 28th. Maxim Group reissued a “hold” rating and set a $49.00 price target (down from $51.00) on shares of Seagate Technology in a research report on Tuesday, February 5th. Finally, BidaskClub lowered Seagate Technology from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Four investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.33.
In related news, Director Holdings L.P. Valueact acquired 725,000 shares of the stock in a transaction dated Friday, February 8th. The shares were acquired at an average price of $44.60 per share, with a total value of $32,335,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Luczo sold 50,000 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $46.09, for a total value of $2,304,500.00. The disclosure for this sale can be found here. In the last three months, insiders have bought 3,700,000 shares of company stock worth $166,497,500 and have sold 120,832 shares worth $5,541,064. Corporate insiders own 1.00% of the company’s stock.
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About Seagate Technology
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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