Toronto Dominion Bank raised its stake in shares of Seagate Technology PLC (NASDAQ:STX) by 13.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,536 shares of the data storage provider’s stock after buying an additional 14,969 shares during the quarter. Toronto Dominion Bank’s holdings in Seagate Technology were worth $5,210,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Balentine LLC raised its stake in shares of Seagate Technology by 56.8% in the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after purchasing an additional 1,619 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of Seagate Technology in the fourth quarter worth $174,000. New England Research & Management Inc. purchased a new position in shares of Seagate Technology in the fourth quarter worth $205,000. Everence Capital Management Inc. purchased a new position in shares of Seagate Technology in the fourth quarter worth $205,000. Finally, Lockheed Martin Investment Management Co. purchased a new position in shares of Seagate Technology in the fourth quarter worth $209,000. Institutional investors and hedge funds own 89.39% of the company’s stock.
In other Seagate Technology news, insider Stephen J. Luczo sold 341,738 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $55.00, for a total transaction of $18,795,590.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Zander sold 15,089 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. Insiders have sold 774,029 shares of company stock valued at $41,280,957 in the last three months. 0.87% of the stock is currently owned by corporate insiders.
Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.09. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. Seagate Technology’s revenue for the quarter was up .7% on a year-over-year basis. equities research analysts expect that Seagate Technology PLC will post 4.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 4.83%. The ex-dividend date is Tuesday, March 20th. Seagate Technology’s dividend payout ratio is presently 115.07%.
Several research analysts have recently weighed in on the company. Vetr cut Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $56.12 price target for the company. in a research note on Wednesday, February 14th. Citigroup boosted their price target on Seagate Technology from $46.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Robert W. Baird boosted their price target on Seagate Technology from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Morgan Stanley boosted their price target on Seagate Technology from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 30th. Finally, BMO Capital Markets boosted their price target on Seagate Technology to $53.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 30th. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $49.76.
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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.
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