TCW Group Inc. Sells 6,140 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

TCW Group Inc. reduced its position in Seagate Technology Holdings plc (NASDAQ:STX) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 352,902 shares of the data storage provider’s stock after selling 6,140 shares during the quarter. TCW Group Inc.’s holdings in Seagate Technology were worth $30,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in shares of Seagate Technology in the third quarter worth approximately $26,000. Advisors Asset Management Inc. boosted its position in shares of Seagate Technology by 177.9% in the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock worth $44,000 after purchasing an additional 258 shares during the period. JFS Wealth Advisors LLC boosted its position in shares of Seagate Technology by 232.5% in the third quarter. JFS Wealth Advisors LLC now owns 419 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 293 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Seagate Technology in the third quarter worth approximately $53,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Seagate Technology in the third quarter worth approximately $54,000. 92.87% of the stock is currently owned by institutional investors.

Seagate Technology Stock Down 1.7 %

Seagate Technology stock opened at $100.85 on Friday. Seagate Technology Holdings plc has a 52-week low of $82.31 and a 52-week high of $115.32. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 18.44 and a beta of 1.07. The firm’s fifty day moving average is $95.02 and its 200 day moving average is $99.84.

Seagate Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, March 19th. Seagate Technology’s dividend payout ratio is currently 52.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STX shares. Barclays upped their price target on shares of Seagate Technology from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 22nd. Northland Securities reissued an “outperform” rating and issued a $160.00 target price (up previously from $144.00) on shares of Seagate Technology in a report on Wednesday, January 22nd. StockNews.com raised shares of Seagate Technology from a “hold” rating to a “buy” rating in a report on Wednesday, February 5th. Morgan Stanley lowered their target price on shares of Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group boosted their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.56.

Insider Activity

In other news, CEO William D. Mosley sold 20,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $102.83, for a total value of $2,056,600.00. Following the sale, the chief executive officer now owns 622,497 shares of the company’s stock, valued at approximately $64,011,366.51. This represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Yolanda Lee Conyers sold 750 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $101.82, for a total transaction of $76,365.00. Following the completion of the sale, the director now directly owns 6,555 shares in the company, valued at approximately $667,430.10. This represents a 10.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,891 shares of company stock valued at $2,146,848. 0.81% of the stock is currently owned by company insiders.

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.