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.

Seagate Technology (NASDAQ:STX) last issued its earnings results on Monday, February 4th. The data storage provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.14. Seagate Technology had a return on equity of 105.74% and a net margin of 14.77%. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same period in the prior year, the firm posted $1.48 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts expect that Seagate Technology PLC will post 4.66 earnings per share for the current fiscal year.

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

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