Barnett & Company Inc. lessened its holdings in Seagate Technology PLC (NASDAQ:STX) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,700 shares of the data storage provider’s stock after selling 2,500 shares during the period. Seagate Technology accounts for about 1.2% of Barnett & Company Inc.’s investment portfolio, making the stock its 28th biggest holding. Barnett & Company Inc.’s holdings in Seagate Technology were worth $2,685,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Quad Cities Investment Group LLC acquired a new position in Seagate Technology during the 2nd quarter worth $124,000. WESPAC Advisors SoCal LLC acquired a new position in Seagate Technology during the 3rd quarter worth $108,000. Partners Capital Investment Group LLP acquired a new position in Seagate Technology during the 2nd quarter worth $136,000. Qube Research & Technologies Ltd acquired a new position in Seagate Technology during the 2nd quarter worth $146,000. Finally, First Hawaiian Bank acquired a new position in Seagate Technology during the 3rd quarter worth $139,000. 83.24% of the stock is owned by hedge funds and other institutional investors.
NASDAQ STX opened at $44.27 on Monday. The stock has a market capitalization of $12.75 billion, a P/E ratio of 8.03, a price-to-earnings-growth ratio of 0.59 and a beta of 1.71. Seagate Technology PLC has a twelve month low of $36.07 and a twelve month high of $62.70. The company has a current ratio of 1.35, a quick ratio of 1.02 and a debt-to-equity ratio of 2.59.
Seagate Technology (NASDAQ:STX) last posted its earnings results on Friday, November 2nd. The data storage provider reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.15. The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Seagate Technology had a net margin of 10.57% and a return on equity of 120.71%. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, research analysts anticipate that Seagate Technology PLC will post 6.11 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 19th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 5.69%. Seagate Technology’s payout ratio is currently 45.74%.
STX has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Seagate Technology from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. BidaskClub lowered shares of Seagate Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. UBS Group lowered shares of Seagate Technology to a “neutral” rating in a research report on Tuesday, October 23rd. Goldman Sachs Group set a $39.00 price objective on shares of Seagate Technology and gave the company a “sell” rating in a research report on Wednesday, September 12th. Finally, Loop Capital cut their price objective on shares of Seagate Technology to $60.00 and set a “buy” rating for the company in a research report on Monday, October 29th. They noted that the move was a valuation call. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $53.29.
In related news, EVP James J. Murphy sold 509 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $56.60, for a total value of $28,809.40. Following the sale, the executive vice president now owns 37,693 shares of the company’s stock, valued at $2,133,423.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Valueact Capital Master Fund, bought 2,090,783 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average cost of $50.94 per share, for a total transaction of $106,504,486.02. The disclosure for this purchase can be found here. In the last three months, insiders purchased 4,636,648 shares of company stock worth $239,240,175 and sold 46,086 shares worth $2,529,660. Insiders own 1.00% of the company’s stock.
Seagate Technology Company Profile
Seagate Technology plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It manufactures and distributes hard disk drives; solid state drives (SSDs), including serial attached small computer system interface and non-volatile memory express SSDs; solid state hybrid drives; and storage subsystems.
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