Toronto Dominion Bank increased its position in Seagate Technology PLC (NASDAQ:STX) by 13.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 124,536 shares of the data storage provider’s stock after purchasing an additional 14,969 shares during the period. Toronto Dominion Bank’s holdings in Seagate Technology were worth $5,210,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Balentine LLC lifted its position in shares of Seagate Technology by 56.8% in the third quarter. Balentine LLC now owns 4,471 shares of the data storage provider’s stock worth $148,000 after buying an additional 1,619 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in shares of Seagate Technology in the fourth quarter worth about $174,000. New England Research & Management Inc. purchased a new stake in shares of Seagate Technology in the fourth quarter worth about $205,000. Everence Capital Management Inc. purchased a new stake in Seagate Technology during the fourth quarter valued at approximately $205,000. Finally, Lockheed Martin Investment Management Co. purchased a new stake in Seagate Technology during the fourth quarter valued at approximately $209,000. Institutional investors own 89.39% of the company’s stock.
In related news, CFO David H. Morton, Jr. sold 40,263 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $48.78, for a total value of $1,964,029.14. Following the transaction, the chief financial officer now owns 65,824 shares of the company’s stock, valued at $3,210,894.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Zander sold 15,089 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $38.79, for a total value of $585,302.31. The disclosure for this sale can be found here. In the last three months, insiders sold 774,029 shares of company stock worth $41,280,957. 0.87% of the stock is owned by insiders.
STX has been the topic of a number of recent research reports. TheStreet upgraded Seagate Technology from a “c+” rating to a “b-” rating in a research report on Tuesday, January 9th. BidaskClub downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Vetr downgraded Seagate Technology from a “strong-buy” rating to a “buy” rating and set a $41.39 price objective on the stock. in a research report on Tuesday, October 31st. Zacks Investment Research upgraded Seagate Technology from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Thursday, October 26th. Finally, ValuEngine upgraded Seagate Technology from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $49.76.
Seagate Technology PLC (NASDAQ STX) opened at $52.12 on Wednesday. Seagate Technology PLC has a 52 week low of $30.60 and a 52 week high of $56.45. The company has a market capitalization of $15,080.00, a P/E ratio of 23.80, a PEG ratio of 0.68 and a beta of 1.88. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.25 and a current ratio of 1.58.
Seagate Technology (NASDAQ:STX) last announced its quarterly earnings data on Monday, January 29th. The data storage provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.09. Seagate Technology had a return on equity of 93.35% and a net margin of 6.10%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Seagate Technology’s revenue was up .7% compared to the same quarter last year. sell-side analysts forecast that Seagate Technology PLC will post 4.86 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 21st will be paid a $0.63 dividend. The ex-dividend date is Tuesday, March 20th. This represents a $2.52 annualized dividend and a yield of 4.83%. Seagate Technology’s dividend payout ratio (DPR) is currently 115.07%.
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Seagate Technology Company Profile
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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