Pittenger & Anderson Inc. Takes $274,000 Position in Seagate Technology Holdings plc (NASDAQ:STX)

Pittenger & Anderson Inc. acquired a new position in Seagate Technology Holdings plc (NASDAQ:STX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the data storage provider’s stock, valued at approximately $274,000.

Other large investors also recently bought and sold shares of the company. Quarry LP bought a new position in Seagate Technology in the second quarter worth approximately $27,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Seagate Technology by 2,407.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after purchasing an additional 337 shares during the last quarter. Family Firm Inc. purchased a new position in Seagate Technology in the second quarter worth $41,000. JFS Wealth Advisors LLC grew its holdings in Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in Seagate Technology by 15,766.7% in the second quarter. Larson Financial Group LLC now owns 476 shares of the data storage provider’s stock worth $49,000 after purchasing an additional 473 shares during the last quarter. Institutional investors own 92.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. TD Cowen lifted their price target 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. Rosenblatt Securities lifted their price target on shares of Seagate Technology from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup lifted their price target on shares of Seagate Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. UBS Group boosted their price objective on shares of Seagate Technology from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Finally, Susquehanna boosted their price objective on shares of Seagate Technology from $55.00 to $65.00 and gave the company a “negative” 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the completion of the sale, the chief executive officer now owns 642,497 shares of the company’s stock, valued at approximately $63,947,726.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $96.10, for a total transaction of $72,075.00. Following the completion of the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 0.00 % decrease in their position. The transaction 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 Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the transaction, the chief executive officer now directly owns 642,497 shares of the company’s stock, valued at $63,947,726.41. The trade was 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 in the last 90 days. Insiders own 0.81% of the company’s stock.

Seagate Technology Stock Performance

Shares of Seagate Technology stock opened at $101.65 on Wednesday. The firm has a 50-day simple moving average of $104.73 and a two-hundred day simple moving average of $100.62. The company has a market cap of $21.50 billion, a P/E ratio of 26.54 and a beta of 1.05. Seagate Technology Holdings plc has a fifty-two week low of $70.31 and a fifty-two week high of $115.32.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.28. Seagate Technology had a net margin of 11.34% and a negative return on equity of 32.19%. The firm had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the firm earned ($0.34) EPS. The company’s revenue for the quarter was up 49.1% on a year-over-year basis. Equities research analysts forecast that Seagate Technology Holdings plc will post 7.35 EPS for the current year.

Seagate Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Friday, December 13th. This is an increase from Seagate Technology’s previous quarterly dividend of $0.70. Seagate Technology’s dividend payout ratio is 73.11%.

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.