Sumitomo Mitsui Trust Group Inc. Acquires 10,122 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 465,428 shares of the data storage provider's stock after buying an additional 10,122 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.22% of Seagate Technology worth $50,978,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its stake in Seagate Technology by 157.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 52,612 shares of the data storage provider's stock valued at $4,896,000 after buying an additional 32,200 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Seagate Technology by 21.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 232,957 shares of the data storage provider's stock worth $21,677,000 after acquiring an additional 40,649 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in Seagate Technology during the first quarter valued at approximately $210,000. M&G Plc bought a new stake in Seagate Technology in the first quarter valued at approximately $12,426,000. Finally, Vanguard Group Inc. raised its holdings in 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 purchasing an additional 746,395 shares during the period. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology Stock Down 0.7 %

Shares of NASDAQ:STX traded down $0.67 during midday trading on Friday, hitting $96.79. The stock had a trading volume of 1,926,370 shares, compared to its average volume of 2,486,239. The company has a market cap of $20.47 billion, a P/E ratio of 25.27 and a beta of 1.05. Seagate Technology Holdings plc has a 12 month low of $74.33 and a 12 month high of $115.32. The business's 50-day simple moving average is $105.02 and its 200-day simple moving average is $101.34.

Seagate Technology (NASDAQ:STX - Get Free Report) last announced 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. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The company's quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.34) EPS. As a group, equities analysts predict that Seagate Technology Holdings plc will post 7.35 earnings per share for the current year.

Seagate Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Sunday, December 15th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.98%. This is a boost from Seagate Technology's previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. Seagate Technology's dividend payout ratio (DPR) is presently 73.11%.

Wall Street Analysts Forecast Growth

STX has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price objective on shares of Seagate Technology from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. UBS Group increased their price target on Seagate Technology from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, July 24th. Northland Securities lifted their price objective on Seagate Technology from $142.00 to $144.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. The Goldman Sachs Group raised 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, TD Cowen raised their price objective on shares of Seagate Technology from $110.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Seagate Technology presently has a consensus rating of "Moderate Buy" and an average price target of $118.83.

Insider Transactions at Seagate Technology

In other news, EVP Ban Seng Teh sold 4,872 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $110.00, for a total value of $535,920.00. Following the transaction, the executive vice president now owns 9,969 shares of the company's stock, valued at approximately $1,096,590. This represents a 32.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of Seagate Technology stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the sale, the director now directly owns 3,034 shares of the company's stock, valued at approximately $291,567.40. The trade was a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 201,820 shares of company stock worth $21,892,856. 0.81% of the stock is owned by company insiders.

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.