Patton Fund Management Inc. Sells 2,398 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Patton Fund Management Inc. trimmed its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 5.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,431 shares of the data storage provider’s stock after selling 2,398 shares during the quarter. Patton Fund Management Inc.’s holdings in Seagate Technology were worth $4,867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STX. Vanguard Group Inc. raised its stake in shares of Seagate Technology by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,753,076 shares of the data storage provider’s stock worth $2,303,274,000 after acquiring an additional 746,395 shares during the last quarter. Clearbridge Investments LLC raised its position in Seagate Technology by 14.5% in the 1st quarter. Clearbridge Investments LLC now owns 2,656,828 shares of the data storage provider’s stock worth $247,218,000 after purchasing an additional 337,464 shares during the last quarter. Duquesne Family Office LLC lifted its holdings in Seagate Technology by 22.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,755,278 shares of the data storage provider’s stock worth $181,268,000 after buying an additional 316,295 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Seagate Technology by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,019,657 shares of the data storage provider’s stock valued at $105,306,000 after buying an additional 9,062 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Seagate Technology by 6.2% in the 1st quarter. Russell Investments Group Ltd. now owns 688,996 shares of the data storage provider’s stock valued at $64,130,000 after buying an additional 40,100 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Loop Capital raised their price target on Seagate Technology from $105.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Robert W. Baird raised their target price on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. TD Cowen boosted their price target on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group lifted their target price on shares of Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Northland Securities upped their target price on shares of Seagate Technology from $119.00 to $142.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $115.94.

Insiders Place Their Bets

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total transaction of $2,153,600.00. Following the sale, the chief executive officer now directly owns 648,616 shares of the company’s stock, valued at approximately $69,842,970.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total transaction of $72,075.00. Following the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $107.68, for a total value of $2,153,600.00. Following the sale, the chief executive officer now directly owns 648,616 shares of the company’s stock, valued at $69,842,970.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 223,284 shares of company stock valued at $23,800,887 in the last 90 days. 0.81% of the stock is currently owned by insiders.

Seagate Technology Trading Up 1.1 %

Shares of NASDAQ STX traded up $1.18 during midday trading on Thursday, reaching $112.91. The company’s stock had a trading volume of 579,107 shares, compared to its average volume of 2,480,637. The stock has a 50 day simple moving average of $103.64 and a 200-day simple moving average of $98.86. The stock has a market capitalization of $23.77 billion, a price-to-earnings ratio of 72.55 and a beta of 1.04. Seagate Technology Holdings plc has a fifty-two week low of $64.12 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.29. Seagate Technology had a net margin of 5.11% and a negative return on equity of 8.41%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the business earned ($0.29) EPS. The company’s revenue was up 17.8% compared to the same quarter last year. As a group, equities analysts anticipate that Seagate Technology Holdings plc will post 7.09 EPS for the current year.

Seagate Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were paid a $0.70 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.48%. Seagate Technology’s dividend payout ratio is 181.82%.

Seagate Technology 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.