Gilliland Jeter Wealth Management LLC Purchases New Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Gilliland Jeter Wealth Management LLC purchased a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) during the third quarter, Holdings Channel reports. The institutional investor purchased 500 shares of the data storage provider’s stock, valued at approximately $55,000.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP bought a new stake in shares of Seagate Technology during the 2nd quarter worth $27,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Seagate Technology by 2,407.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 351 shares of the data storage provider’s stock worth $36,000 after buying an additional 337 shares during the last quarter. Family Firm Inc. bought a new stake in Seagate Technology in the second quarter worth about $41,000. Larson Financial Group LLC boosted its stake 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 valued at $49,000 after acquiring an additional 473 shares during the last quarter. Finally, Viking Fund Management LLC grew its position in shares of Seagate Technology by 722.2% during the 1st quarter. Viking Fund Management LLC now owns 740 shares of the data storage provider’s stock valued at $69,000 after acquiring an additional 650 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Trading Down 0.3 %

NASDAQ STX opened at $112.12 on Monday. The firm has a market cap of $23.60 billion, a PE ratio of 72.81 and a beta of 1.04. Seagate Technology Holdings plc has a 1-year low of $64.12 and a 1-year high of $115.32. The stock has a 50-day moving average of $104.29 and a 200-day moving average of $99.21.

Seagate Technology (NASDAQ:STX) last announced its quarterly earnings results on Tuesday, July 23rd. The data storage provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.29. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.87 billion. Seagate Technology had a negative return on equity of 8.41% and a net margin of 5.11%. Seagate Technology’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.29) EPS. As a group, equities research analysts forecast that Seagate Technology Holdings plc will post 7.09 earnings per share for the current fiscal year.

Seagate Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.70 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.50%. Seagate Technology’s dividend payout ratio (DPR) is 181.82%.

Insider Transactions at Seagate Technology

In other Seagate Technology news, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the completion of the transaction, the chief executive officer now owns 654,270 shares of the company’s stock, valued at approximately $61,148,074.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Ban Seng Teh sold 10,117 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $110.00, for a total value of $1,112,870.00. Following the transaction, the executive vice president now directly owns 5,387 shares of the company’s stock, valued at approximately $592,570. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $93.46, for a total transaction of $1,869,200.00. Following the sale, the chief executive officer now directly owns 654,270 shares in the company, valued at approximately $61,148,074.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 223,284 shares of company stock valued at $23,800,887. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

STX has been the topic of a number of research reports. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Thursday. Cantor Fitzgerald upped their price target on Seagate Technology from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on Seagate Technology from $96.00 to $107.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Rosenblatt Securities boosted their price objective on Seagate Technology from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Robert W. Baird raised their price objective on shares of Seagate Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $115.94.

Seagate Technology Company 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.