TCW Group Inc. Lowers Stake in Seagate Technology Holdings plc (NASDAQ:STX)

TCW Group Inc. lowered its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 352,902 shares of the data storage provider’s stock after selling 6,140 shares during the quarter. TCW Group Inc. owned 0.17% of Seagate Technology worth $30,459,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sanders Capital LLC grew its holdings in shares of Seagate Technology by 0.9% during the 3rd quarter. Sanders Capital LLC now owns 16,367,591 shares of the data storage provider’s stock valued at $1,792,742,000 after purchasing an additional 150,115 shares during the last quarter. State Street Corp grew its holdings in shares of Seagate Technology by 6.8% during the 3rd quarter. State Street Corp now owns 8,502,674 shares of the data storage provider’s stock valued at $937,081,000 after purchasing an additional 541,585 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Seagate Technology by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,162,512 shares of the data storage provider’s stock valued at $454,477,000 after purchasing an additional 318,416 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Seagate Technology by 29.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,778,811 shares of the data storage provider’s stock valued at $197,844,000 after purchasing an additional 405,232 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Seagate Technology by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock worth $145,447,000 after acquiring an additional 73,267 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Stock Down 1.7 %

Shares of STX stock opened at $100.85 on Friday. The company has a 50 day moving average price of $95.02 and a 200-day moving average price of $99.84. Seagate Technology Holdings plc has a 52 week low of $82.31 and a 52 week high of $115.32. The firm has a market capitalization of $21.35 billion, a PE ratio of 18.44 and a beta of 1.07.

Seagate Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.86%. Seagate Technology’s dividend payout ratio is presently 52.65%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STX shares. Bank of America raised their price target on shares of Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Wednesday, January 22nd. UBS Group raised their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Susquehanna raised their price target on shares of Seagate Technology from $65.00 to $68.00 and gave the stock a “negative” rating in a report on Wednesday, January 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $150.00 price target on shares of Seagate Technology 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.56.

Insider Transactions at Seagate Technology

In related news, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. The trade was a 10.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Mosley sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total transaction of $2,056,600.00. Following the sale, the chief executive officer now 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 worth $2,146,848 over the last three months. 0.81% of the stock is currently owned by company insiders.

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.