Whittier Trust Co. Continues to Hold Stake in Seagate Technology PLC (NASDAQ:STX)

Whittier Trust Co. held its position in Seagate Technology PLC (NASDAQ:STX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,851 shares of the data storage provider’s stock at the end of the second quarter. Whittier Trust Co.’s holdings in Seagate Technology PLC were worth $227,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Seagate Technology PLC by 3,179.5% in the first quarter. BlackRock Inc. now owns 18,336,509 shares of the data storage provider’s stock valued at $842,196,000 after buying an additional 17,777,387 shares during the period. Prudential Financial Inc. increased its position in Seagate Technology PLC by 355.8% in the first quarter. Prudential Financial Inc. now owns 2,603,387 shares of the data storage provider’s stock valued at $119,573,000 after buying an additional 2,032,271 shares during the period. Renaissance Technologies LLC increased its position in Seagate Technology PLC by 1,387.8% in the first quarter. Renaissance Technologies LLC now owns 1,292,893 shares of the data storage provider’s stock valued at $59,383,000 after buying an additional 1,205,993 shares during the period. Vanguard Group Inc. increased its position in Seagate Technology PLC by 3.8% in the first quarter. Vanguard Group Inc. now owns 31,119,928 shares of the data storage provider’s stock valued at $1,429,338,000 after buying an additional 1,132,336 shares during the period. Finally, Geode Capital Management LLC increased its stake in Seagate Technology PLC by 25.1% in the first quarter. Geode Capital Management LLC now owns 3,206,093 shares of the data storage provider’s stock worth $147,067,000 after buying an additional 642,845 shares during the last quarter. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Shares of Seagate Technology PLC (NASDAQ:STX) traded up 2.35% during midday trading on Friday, hitting $32.29. 5,647,213 shares of the stock were exchanged. The firm has a market cap of $9.42 billion, a P/E ratio of 12.52 and a beta of 1.69. The firm has a 50 day moving average of $36.75 and a 200 day moving average of $43.00. Seagate Technology PLC has a 12-month low of $31.35 and a 12-month high of $50.96.

Seagate Technology PLC (NASDAQ:STX) last released its quarterly earnings data on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.34. Seagate Technology PLC had a return on equity of 81.87% and a net margin of 7.17%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.56 billion. During the same period last year, the business earned $0.69 EPS. The firm’s revenue was down 9.3% on a year-over-year basis. Equities analysts forecast that Seagate Technology PLC will post $3.70 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 4th. Investors of record on Wednesday, September 20th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.80%. Seagate Technology PLC’s dividend payout ratio (DPR) is presently 97.67%.

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STX has been the subject of a number of recent research reports. Benchmark Co. downgraded shares of Seagate Technology PLC from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Cowen and Company reiterated a “market perform” rating and issued a $45.00 price objective (down previously from $46.00) on shares of Seagate Technology PLC in a report on Wednesday, April 26th. Zacks Investment Research downgraded shares of Seagate Technology PLC from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 27th. BidaskClub downgraded shares of Seagate Technology PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $45.00 price objective (down previously from $46.00) on shares of Seagate Technology PLC in a report on Saturday, April 29th. Four analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.12.

In related news, Director Chong Sup Park sold 3,809 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $43.63, for a total value of $166,186.67. Following the completion of the transaction, the director now owns 11,753 shares in the company, valued at approximately $512,783.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark Re sold 9,607 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $43.47, for a total transaction of $417,616.29. Following the completion of the transaction, the senior vice president now owns 40,470 shares of the company’s stock, valued at approximately $1,759,230.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,456 shares of company stock worth $715,313. Corporate insiders own 1.50% of the company’s stock.

Seagate Technology PLC Company Profile

Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.

Institutional Ownership by Quarter for Seagate Technology PLC (NASDAQ:STX)

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