Clearbridge Investments LLC Has $140.12 Million Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Clearbridge Investments LLC decreased its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 20.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,623,439 shares of the data storage provider’s stock after selling 415,358 shares during the quarter. Clearbridge Investments LLC owned 0.77% of Seagate Technology worth $140,119,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of STX. Allstate Corp bought a new stake in shares of Seagate Technology in the fourth quarter valued at approximately $538,000. DnB Asset Management AS lifted its position in shares of Seagate Technology by 15.3% during the 4th quarter. DnB Asset Management AS now owns 37,452 shares of the data storage provider’s stock valued at $3,232,000 after acquiring an additional 4,981 shares during the period. Alerus Financial NA grew its holdings in shares of Seagate Technology by 2.4% during the 4th quarter. Alerus Financial NA now owns 57,174 shares of the data storage provider’s stock worth $4,935,000 after purchasing an additional 1,321 shares in the last quarter. Level Four Advisory Services LLC increased its position in shares of Seagate Technology by 4.1% in the fourth quarter. Level Four Advisory Services LLC now owns 3,343 shares of the data storage provider’s stock worth $289,000 after purchasing an additional 131 shares during the period. Finally, Pictet Asset Management Holding SA increased its position in shares of Seagate Technology by 13.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 119,528 shares of the data storage provider’s stock worth $10,316,000 after purchasing an additional 14,100 shares during the period. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

Seagate Technology stock opened at $84.92 on Monday. The firm has a market cap of $17.98 billion, a P/E ratio of 15.52 and a beta of 1.01. The stock’s 50 day moving average is $95.71 and its 200 day moving average is $98.29. Seagate Technology Holdings plc has a one year low of $82.31 and a one year high of $115.32.

Seagate Technology Announces Dividend

The company 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 3.39%. The ex-dividend date of this dividend is Wednesday, March 19th. Seagate Technology’s dividend payout ratio (DPR) is presently 52.65%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on STX shares. The Goldman Sachs Group reduced their price objective on shares of Seagate Technology from $112.00 to $99.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Benchmark raised shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Wednesday, January 22nd. Summit Insights upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 22nd. Morgan Stanley decreased their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Finally, Bank of America dropped their price objective on Seagate Technology from $130.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.00.

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.