Patton Fund Management Inc. Has $3.33 Million Position in Seagate Technology Holdings plc (NASDAQ:STX)

Patton Fund Management Inc. cut its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,631 shares of the data storage provider’s stock after selling 5,800 shares during the quarter. Patton Fund Management Inc.’s holdings in Seagate Technology were worth $3,334,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at $26,000. Quarry LP bought a new stake in Seagate Technology during the 2nd quarter worth about $27,000. Advisors Asset Management Inc. lifted its position in Seagate Technology by 177.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after purchasing an additional 258 shares during the period. JFS Wealth Advisors LLC boosted its stake in shares of Seagate Technology by 232.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 293 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Seagate Technology during the 3rd quarter worth approximately $53,000. 92.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and issued a $160.00 target price (up from $144.00) on shares of Seagate Technology in a research note on Wednesday, January 22nd. Bank of America lifted 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. Morgan Stanley lowered their target price on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Finally, UBS Group upped their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Price Performance

STX stock opened at $100.27 on Wednesday. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of 18.33 and a beta of 1.06. The company has a fifty day moving average price of $95.17 and a two-hundred day moving average price of $100.28. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders 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 yield of 2.87%. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Insider Transactions at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $99.53, for a total value of $1,990,600.00. Following the transaction, the chief executive officer now owns 642,497 shares in the company, valued at approximately $63,947,726.41. This trade represents a 3.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were 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 directly owns 6,555 shares of the company’s stock, valued at approximately $667,430.10. This trade represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,073 shares of company stock worth $5,106,149 over the last quarter. Company 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.