Patton Fund Management Inc. Has $3.33 Million Stock Holdings in Seagate Technology Holdings plc (NASDAQ:STX)

Patton Fund Management Inc. cut its stake in shares of Seagate Technology Holdings plc (NASDAQ:STX) by 13.1% during the 4th quarter, HoldingsChannel reports. The firm owned 38,631 shares of the data storage provider’s stock after selling 5,800 shares during the period. Patton Fund Management Inc.’s holdings in Seagate Technology were worth $3,334,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in Seagate Technology in the 3rd quarter valued at approximately $26,000. Quarry LP bought a new position in shares of Seagate Technology during the second quarter valued at $27,000. Advisors Asset Management Inc. raised its stake in shares of Seagate Technology by 177.9% during the third quarter. Advisors Asset Management Inc. now owns 403 shares of the data storage provider’s stock valued at $44,000 after acquiring an additional 258 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Seagate Technology by 232.5% during 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. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Seagate Technology in the third quarter worth $53,000. 92.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Kian Fatt Chong sold 9,182 shares of Seagate Technology stock in a transaction on Friday, November 8th. The stock was sold at an average price of $105.50, for a total transaction of $968,701.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William D. Mosley sold 20,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $99.53, for a total transaction of $1,990,600.00. Following the sale, the chief executive officer now owns 642,497 shares of the company’s stock, valued at $63,947,726.41. This trade represents a 3.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,073 shares of company stock worth $5,106,149 over the last quarter. Insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on STX. Bank of America lifted their target price on Seagate Technology from $124.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price target on shares of Seagate Technology from $120.00 to $110.00 and set an “equal weight” rating for the company in a report on Thursday, January 16th. Wedbush reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Seagate Technology in a research note on Wednesday, January 22nd. UBS Group boosted their target price on shares of Seagate Technology from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, StockNews.com raised Seagate Technology from a “hold” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and a consensus target price of $122.56.

Seagate Technology Stock Down 3.1 %

STX stock opened at $100.27 on Wednesday. The stock’s 50 day moving average is $95.17 and its 200-day moving average is $100.28. Seagate Technology Holdings plc has a twelve month low of $82.31 and a twelve month high of $115.32. The firm has a market capitalization of $21.21 billion, a PE ratio of 18.33 and a beta of 1.06.

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 issued a $0.72 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $2.88 annualized dividend and a dividend yield of 2.87%. Seagate Technology’s dividend payout ratio is currently 52.65%.

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.