Rockefeller Capital Management L.P. Takes Position in Seagate Technology Holdings plc (NASDAQ:STX)

Rockefeller Capital Management L.P. bought a new position in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,314 shares of the data storage provider's stock, valued at approximately $1,238,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Securities LLC lifted its holdings in shares of Seagate Technology by 8.1% in the 2nd quarter. Park Avenue Securities LLC now owns 6,040 shares of the data storage provider's stock valued at $624,000 after buying an additional 450 shares during the period. CWM LLC lifted its holdings in shares of Seagate Technology by 3.0% in the 2nd quarter. CWM LLC now owns 3,307 shares of the data storage provider's stock valued at $342,000 after buying an additional 97 shares during the period. Czech National Bank lifted its holdings in shares of Seagate Technology by 8.5% in the 2nd quarter. Czech National Bank now owns 37,214 shares of the data storage provider's stock valued at $3,843,000 after buying an additional 2,931 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of Seagate Technology in the 2nd quarter valued at about $255,000. Finally, M&G Plc raised its holdings in Seagate Technology by 8.1% in the 2nd quarter. M&G Plc now owns 144,427 shares of the data storage provider's stock worth $14,876,000 after purchasing an additional 10,813 shares during the period. Hedge funds and other institutional investors own 92.87% of the company's stock.

Seagate Technology Stock Performance

Shares of STX stock traded up $0.46 during trading hours on Monday, reaching $98.97. The company had a trading volume of 2,437,145 shares, compared to its average volume of 2,484,655. The stock has a fifty day moving average of $103.43 and a 200-day moving average of $102.17. The company has a market capitalization of $20.94 billion, a price-to-earnings ratio of 25.84 and a beta of 1.03. Seagate Technology Holdings plc has a 12-month low of $79.39 and a 12-month high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.28. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The firm had revenue of $2.17 billion for the quarter, compared to analysts' expectations of $2.13 billion. During the same period in the prior year, the firm posted ($0.34) earnings per share. The firm's quarterly revenue was up 49.1% on a year-over-year basis. On average, analysts forecast that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a yield of 2.91%. Seagate Technology's dividend payout ratio is currently 73.11%.

Insider Activity at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 141,785 shares of the company's stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total transaction of $15,621,871.30. Following the transaction, the chief executive officer now directly owns 668,616 shares in the company, valued at $73,668,110.88. This represents a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John Christopher Morris sold 1,131 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $111.90, for a total value of $126,558.90. Following the transaction, the senior vice president now owns 7,191 shares in the company, valued at $804,672.90. This trade represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,820 shares of company stock worth $23,953,746. Insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

STX has been the subject of a number of analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $150.00 price target on shares of Seagate Technology in a report on Wednesday, October 23rd. StockNews.com upgraded Seagate Technology from a "hold" rating to a "buy" rating in a research note on Thursday, October 17th. Cantor Fitzgerald reiterated a "neutral" rating and set a $125.00 price objective on shares of Seagate Technology in a research note on Wednesday, October 23rd. Rosenblatt Securities boosted their price objective on Seagate Technology from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Northland Securities boosted their price objective on Seagate Technology from $142.00 to $144.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $118.83.

Seagate Technology Company 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.