Sumitomo Mitsui Trust Group Inc. Purchases 14,185 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Seagate Technology Holdings plc (NASDAQ:STX - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,613 shares of the data storage provider's stock after buying an additional 14,185 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Seagate Technology worth $41,395,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of STX. Point72 Asset Management L.P. acquired a new position in Seagate Technology in the third quarter worth $133,031,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake 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 purchasing an additional 1,012,638 shares in the last quarter. State Street Corp boosted its stake in Seagate Technology by 6.8% in the third quarter. State Street Corp now owns 8,502,674 shares of the data storage provider's stock worth $937,081,000 after purchasing an additional 541,585 shares in the last quarter. Franklin Resources Inc. boosted its stake in Seagate Technology by 29.5% in the third quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider's stock worth $197,844,000 after purchasing an additional 405,232 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Seagate Technology by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider's stock worth $454,477,000 after purchasing an additional 318,416 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company's stock.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the transaction, the director now directly owns 6,555 shares of the company's stock, valued at approximately $667,430.10. This represents a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 622,497 shares of the company's stock, valued at $64,011,366.51. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,891 shares of company stock valued at $2,146,848 over the last three months. Company insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

STX has been the topic of a number of recent analyst reports. Susquehanna boosted their price objective on Seagate Technology from $65.00 to $68.00 and gave the stock a "negative" rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group cut their price target on Seagate Technology from $112.00 to $99.00 and set a "neutral" rating on the stock in a research note on Friday, January 10th. StockNews.com upgraded Seagate Technology from a "hold" rating to a "buy" rating in a report on Wednesday, February 5th. Bank of America upped their price objective on Seagate Technology from $124.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 price objective on shares of Seagate Technology in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Seagate Technology has a consensus rating of "Moderate Buy" and a consensus target price of $122.56.

Seagate Technology Trading Down 0.0 %

Shares of STX stock traded down $0.01 on Friday, hitting $101.47. 2,234,988 shares of the stock were exchanged, compared to its average volume of 3,334,021. The firm has a market capitalization of $21.48 billion, a P/E ratio of 18.55 and a beta of 1.07. The business has a 50-day moving average of $94.57 and a 200 day moving average of $99.63. Seagate Technology Holdings plc has a fifty-two week low of $82.31 and a fifty-two week high of $115.32.

Seagate Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 2.84%. Seagate Technology's dividend payout ratio is currently 52.65%.

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.