Chevy Chase Trust Holdings LLC Raises Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Chevy Chase Trust Holdings LLC boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,594 shares of the data storage provider's stock after buying an additional 5,974 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Seagate Technology worth $12,332,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Seagate Technology by 341.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,308,958 shares of the data storage provider's stock worth $143,370,000 after acquiring an additional 1,012,638 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Seagate Technology during the 2nd quarter valued at about $35,349,000. Duquesne Family Office LLC increased its stake 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 valued at $181,268,000 after purchasing an additional 316,295 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Seagate Technology in the third quarter worth approximately $32,598,000. Finally, AQR Capital Management LLC grew its holdings in shares of Seagate Technology by 519.1% during the second quarter. AQR Capital Management LLC now owns 323,401 shares of the data storage provider's stock valued at $33,398,000 after buying an additional 271,160 shares during the last quarter. 92.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wedbush restated an "outperform" rating and issued a $150.00 price objective on shares of Seagate Technology in a report on Wednesday, October 23rd. Rosenblatt Securities boosted their price target on Seagate Technology from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Evercore ISI increased their price objective on Seagate Technology from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Northland Securities boosted their target price on Seagate Technology from $142.00 to $144.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. Finally, Benchmark reaffirmed a "hold" rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $118.83.

Insider Activity at Seagate Technology

In other news, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total value of $76,365.00. Following the completion of the transaction, the director now owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the sale, the chief executive officer now owns 622,497 shares in the company, valued at $64,011,366.51. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 221,820 shares of company stock valued at $23,953,746 over the last 90 days. 0.81% of the stock is owned by corporate insiders.

Seagate Technology Trading Up 0.6 %

Shares of NASDAQ:STX traded up $0.55 during midday trading on Thursday, reaching $98.18. 2,285,579 shares of the company were exchanged, compared to its average volume of 2,483,856. The stock has a market cap of $20.77 billion, a PE ratio of 25.49 and a beta of 1.03. The business's fifty day moving average is $104.10 and its two-hundred day moving average is $102.04. Seagate Technology Holdings plc has a one year low of $77.71 and a one year high of $115.32.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share 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 during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted ($0.34) earnings per share. The business's quarterly revenue was up 49.1% compared to the same quarter last year. As a group, sell-side analysts expect that Seagate Technology Holdings plc will post 7.18 EPS for the current year.

Seagate Technology Increases Dividend

The firm also recently announced 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 is Friday, December 13th. This is a positive change from Seagate Technology's previous quarterly dividend of $0.70. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.93%. Seagate Technology's dividend payout ratio (DPR) is 73.11%.

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.