Pittenger & Anderson Inc. Purchases Shares of 2,500 Seagate Technology Holdings plc (NASDAQ:STX)

Pittenger & Anderson Inc. acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the data storage provider’s stock, valued at approximately $274,000.

Several other large investors have also recently modified their holdings of the stock. Quarry LP purchased a new position in Seagate Technology during the 2nd quarter valued at about $27,000. Kayne Anderson Rudnick Investment Management LLC boosted its position in Seagate Technology by 2,407.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock valued at $36,000 after acquiring an additional 337 shares in the last quarter. Family Firm Inc. purchased a new position in shares of Seagate Technology during the 2nd quarter worth approximately $41,000. JFS Wealth Advisors LLC grew its holdings in shares of Seagate Technology by 232.5% during the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 293 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Seagate Technology by 15,766.7% during the 2nd quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after acquiring an additional 473 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Up 1.8 %

NASDAQ:STX opened at $101.65 on Wednesday. The business’s 50-day simple moving average is $104.73 and its two-hundred day simple moving average is $100.62. The stock has a market cap of $21.50 billion, a PE ratio of 26.54 and a beta of 1.05. Seagate Technology Holdings plc has a 52 week low of $70.31 and a 52 week high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results 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 business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The business’s quarterly revenue was up 49.1% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. Sell-side analysts anticipate that Seagate Technology Holdings plc will post 7.35 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company 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 dividend of $0.72 per share. This is a positive change from Seagate Technology’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, December 13th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.83%. Seagate Technology’s dividend payout ratio (DPR) is presently 73.11%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STX shares. UBS Group upped their price target on Seagate Technology from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. The Goldman Sachs Group upped their price target on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Northland Securities upped their price target on Seagate Technology from $142.00 to $144.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup upped their price target on Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird increased their target price on Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.83.

Insider Activity

In other news, CEO William D. Mosley sold 141,785 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 668,616 shares in the company, valued at $73,668,110.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO William D. Mosley sold 141,785 shares of Seagate Technology stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now owns 668,616 shares in the company, valued at approximately $73,668,110.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $107.68, for a total value of $2,153,600.00. Following the completion of the transaction, the chief executive officer now owns 648,616 shares of the company’s stock, valued at approximately $69,842,970.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 192,638 shares of company stock worth $20,924,155 over the last 90 days. Corporate insiders own 0.81% of the company’s stock.

About Seagate Technology

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.