PNC Financial Services Group Inc. Cuts Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

PNC Financial Services Group Inc. lowered its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,223 shares of the data storage provider’s stock after selling 269 shares during the period. PNC Financial Services Group Inc.’s holdings in Seagate Technology were worth $4,515,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Aljian Capital Management LLC acquired a new position in Seagate Technology in the 3rd quarter valued at about $205,000. Swiss National Bank lifted its holdings in shares of Seagate Technology by 0.5% in the 3rd quarter. Swiss National Bank now owns 592,000 shares of the data storage provider’s stock worth $64,842,000 after acquiring an additional 2,700 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Seagate Technology by 3.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 10,877 shares of the data storage provider’s stock worth $1,191,000 after acquiring an additional 402 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Seagate Technology by 5.0% in the 3rd quarter. Mutual of America Capital Management LLC now owns 25,853 shares of the data storage provider’s stock worth $2,832,000 after acquiring an additional 1,227 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Seagate Technology by 6.2% in the 3rd quarter. Natixis Advisors LLC now owns 70,117 shares of the data storage provider’s stock worth $7,680,000 after acquiring an additional 4,094 shares during the last quarter. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Insider Buying and Selling

In other news, CEO William D. Mosley sold 141,785 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $110.18, for a total value of $15,621,871.30. Following the completion of the transaction, the chief executive officer now directly owns 668,616 shares of the company’s stock, valued at $73,668,110.88. The trade was a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Yolanda Lee Conyers sold 750 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $96.10, for a total value of $72,075.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $291,567.40. This trade represents a 19.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 201,820 shares of company stock valued at $21,892,856. 0.81% of the stock is owned by insiders.

Seagate Technology Trading Down 0.3 %

Shares of STX stock opened at $99.62 on Monday. The business’s 50 day moving average is $104.69 and its two-hundred day moving average is $101.71. The company has a market capitalization of $21.07 billion, a P/E ratio of 26.01 and a beta of 1.05. Seagate Technology Holdings plc has a twelve month low of $75.64 and a twelve month high of $115.32.

Seagate Technology (NASDAQ:STX) last posted its quarterly earnings results on Tuesday, October 22nd. The data storage provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.30 by $0.28. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Seagate Technology had a negative return on equity of 32.19% and a net margin of 11.34%. The company’s quarterly revenue was up 49.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) EPS. As a group, equities analysts predict that Seagate Technology Holdings plc will post 7.18 earnings per share for the current fiscal year.

Seagate Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Sunday, December 15th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Seagate Technology’s previous quarterly dividend of $0.70. This represents a $2.88 annualized dividend and a yield of 2.89%. Seagate Technology’s payout ratio is currently 73.11%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STX. Citigroup increased their target price 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. Wedbush reiterated an “outperform” rating and set a $150.00 target price on shares of Seagate Technology in a report on Wednesday, October 23rd. Evercore ISI increased their target price on shares of Seagate Technology from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Benchmark reiterated a “hold” rating on shares of Seagate Technology in a report on Wednesday, October 23rd. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $125.00 price objective on shares of Seagate Technology in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Seagate Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.83.

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.