Hanson & Doremus Investment Management Sells 3,306 Shares of Seagate Technology Holdings PLC $STX

Hanson & Doremus Investment Management cut its holdings in Seagate Technology Holdings PLC (NASDAQ:STX) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,432 shares of the data storage provider’s stock after selling 3,306 shares during the period. Seagate Technology makes up 1.1% of Hanson & Doremus Investment Management’s portfolio, making the stock its 16th largest position. Hanson & Doremus Investment Management’s holdings in Seagate Technology were worth $9,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new position in shares of Seagate Technology in the second quarter worth about $27,000. Rakuten Securities Inc. grew its position in Seagate Technology by 884.2% during the 2nd quarter. Rakuten Securities Inc. now owns 187 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 168 shares during the last quarter. MTM Investment Management LLC purchased a new position in Seagate Technology in the 2nd quarter worth approximately $29,000. GoalVest Advisory LLC increased its stake in Seagate Technology by 30.6% in the 2nd quarter. GoalVest Advisory LLC now owns 320 shares of the data storage provider’s stock worth $46,000 after purchasing an additional 75 shares during the period. Finally, Trust Co. of Toledo NA OH purchased a new position in Seagate Technology in the 2nd quarter worth approximately $57,000. 92.87% of the stock is owned by institutional investors.

Seagate Technology Trading Down 0.0%

Shares of NASDAQ STX opened at $282.80 on Wednesday. The firm has a fifty day simple moving average of $263.02 and a two-hundred day simple moving average of $203.12. Seagate Technology Holdings PLC has a 12 month low of $63.19 and a 12 month high of $308.93. The firm has a market capitalization of $60.39 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.59.

Seagate Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 1.0%. This is a boost from Seagate Technology’s previous quarterly dividend of $0.72. The ex-dividend date is Wednesday, December 24th. Seagate Technology’s dividend payout ratio (DPR) is 36.97%.

Analyst Ratings Changes

STX has been the subject of a number of analyst reports. China Renaissance began coverage on Seagate Technology in a research note on Friday, December 5th. They set a “buy” rating and a $325.00 price objective for the company. Wells Fargo & Company upped their price target on shares of Seagate Technology from $240.00 to $250.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. UBS Group cut their price target on shares of Seagate Technology from $235.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Loop Capital boosted their price objective on shares of Seagate Technology from $350.00 to $465.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, Robert W. Baird upped their price objective on shares of Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Seagate Technology presently has an average rating of “Moderate Buy” and an average price target of $293.13.

Insider Buying and Selling at Seagate Technology

In related news, CEO William D. Mosley sold 20,000 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $271.03, for a total value of $5,420,600.00. Following the sale, the chief executive officer directly owned 445,668 shares of the company’s stock, valued at $120,789,398.04. This represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Gianluca Romano sold 54,021 shares of the stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $285.16, for a total value of $15,404,628.36. Following the completion of the transaction, the chief financial officer owned 56,293 shares of the company’s stock, valued at approximately $16,052,511.88. This trade represents a 48.97% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 132,555 shares of company stock worth $36,030,007. Insiders own 0.79% of the company’s stock.

About Seagate Technology

Seagate Technology (NASDAQ: STX) is a global data storage company that designs, manufactures and sells a broad range of storage products and systems. The firm’s product portfolio includes traditional hard disk drives (HDDs), solid-state drives (SSDs), hybrid storage devices and integrated storage systems aimed at enterprise, cloud, OEM and consumer markets. Seagate also provides services that support its hardware offerings, including data recovery and storage management solutions.

Seagate’s products are used in a wide array of applications, from large-scale data centers and cloud infrastructure to desktop and portable consumer devices.