Jackson Wealth Management LLC Makes New $647,000 Investment in Seagate Technology Holdings PLC $STX

Jackson Wealth Management LLC purchased a new position in Seagate Technology Holdings PLC (NASDAQ:STX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,742 shares of the data storage provider’s stock, valued at approximately $647,000.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Robert W. Baird upped their target price on Seagate Technology from $188.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Sanford C. Bernstein boosted their price target on Seagate Technology from $275.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Zacks Research raised shares of Seagate Technology from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Morgan Stanley upped their price target on Seagate Technology from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Bank of America boosted their price objective on Seagate Technology from $275.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Seagate Technology has an average rating of “Moderate Buy” and a consensus target price of $287.17.

Insiders Place Their Bets

In related news, CFO Gianluca Romano sold 54,021 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $285.16, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Yolanda Lee Conyers sold 750 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $272.91, for a total value of $204,682.50. Following the transaction, the director owned 5,601 shares of the company’s stock, valued at $1,528,568.91. This trade represents a 11.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 132,555 shares of company stock worth $36,030,007. Insiders own 0.79% of the company’s stock.

Seagate Technology Stock Down 0.7%

NASDAQ STX opened at $285.58 on Tuesday. Seagate Technology Holdings PLC has a 52 week low of $63.19 and a 52 week high of $308.93. The business’s fifty day simple moving average is $254.95 and its 200-day simple moving average is $196.24. The firm has a market cap of $60.99 billion, a PE ratio of 36.66, a P/E/G ratio of 1.13 and a beta of 1.59.

Seagate Technology Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 24th will be paid a dividend of $0.74 per share. 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 of this dividend is Wednesday, December 24th. Seagate Technology’s payout ratio is 36.97%.

Seagate Technology Company 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.