Illinois Municipal Retirement Fund Reduces Stock Position in Seagate Technology Holdings plc (NASDAQ:STX)

Illinois Municipal Retirement Fund lessened its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 64.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,314 shares of the data storage provider’s stock after selling 30,782 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Seagate Technology were worth $1,494,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Sanders Capital LLC boosted 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 acquiring an additional 150,115 shares during the last quarter. State Street Corp boosted its holdings in shares of 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 buying an additional 541,585 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 318,416 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of 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 buying an additional 405,232 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Seagate Technology by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,327,920 shares of the data storage provider’s stock worth $145,447,000 after buying an additional 73,267 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $101.91 on Friday. The stock has a market cap of $21.58 billion, a P/E ratio of 18.63 and a beta of 1.07. Seagate Technology Holdings plc has a 1 year low of $82.31 and a 1 year high of $115.32. The firm’s 50 day moving average price is $95.95 and its 200-day moving average price is $100.00.

Seagate Technology Announces Dividend

The business 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. This represents a $2.88 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s payout ratio is currently 52.65%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Susquehanna raised their price objective 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. Wells Fargo & Company dropped their price objective on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating on the stock in a report on Thursday, January 16th. UBS Group raised their price objective 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. Finally, Summit Insights upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Insider Activity at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,891 shares of company stock valued at $2,146,848. 0.81% of the stock is owned by corporate insiders.

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.