Franklin Resources Inc. Purchases 101,044 Shares of Seagate Technology Holdings plc (NASDAQ:STX)

Franklin Resources Inc. grew its holdings in Seagate Technology Holdings plc (NASDAQ:STX) by 5.7% during the 4th quarter, Holdings Channel reports. The firm owned 1,879,855 shares of the data storage provider’s stock after purchasing an additional 101,044 shares during the period. Franklin Resources Inc.’s holdings in Seagate Technology were worth $162,250,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. JFS Wealth Advisors LLC increased its holdings in Seagate Technology by 27.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 532 shares of the data storage provider’s stock valued at $46,000 after purchasing an additional 113 shares during the last quarter. Human Investing LLC bought a new stake in shares of Seagate Technology in the 4th quarter valued at about $48,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Seagate Technology in the 3rd quarter valued at approximately $54,000. S.A. Mason LLC bought a new position in Seagate Technology during the 4th quarter worth approximately $55,000. Finally, Quarry LP grew its holdings in Seagate Technology by 108.4% during the third quarter. Quarry LP now owns 546 shares of the data storage provider’s stock valued at $60,000 after purchasing an additional 284 shares during the period. Institutional investors and hedge funds own 92.87% of the company’s stock.

Seagate Technology Stock Performance

STX opened at $85.52 on Thursday. The business’s 50-day simple moving average is $94.67 and its 200 day simple moving average is $97.96. Seagate Technology Holdings plc has a 52-week low of $81.58 and a 52-week high of $115.32. The firm has a market capitalization of $18.11 billion, a PE ratio of 15.63 and a beta of 1.01.

Seagate Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 19th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 3.37%. The ex-dividend date was Wednesday, March 19th. Seagate Technology’s payout ratio is presently 52.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on STX shares. Citigroup reduced their price target on shares of Seagate Technology from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. The Goldman Sachs Group decreased their target price on Seagate Technology from $112.00 to $99.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Morgan Stanley dropped their price target on Seagate Technology from $133.00 to $129.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Bank of America decreased 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. Finally, Benchmark upgraded shares of Seagate Technology from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

Insider Buying and Selling

In related news, CEO William D. Mosley sold 20,000 shares of Seagate Technology stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $84.56, for a total transaction of $1,691,200.00. Following the completion of the transaction, the chief executive officer now owns 555,677 shares in the company, valued at approximately $46,988,047.12. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.81% of the stock is owned by corporate insiders.

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.