Spirit of America Management Corp NY increased its stake in Seagate Technology PLC (NASDAQ:STX) by 35.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,750 shares of the data storage provider’s stock after buying an additional 1,750 shares during the period. Spirit of America Management Corp NY’s holdings in Seagate Technology PLC were worth $262,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Cleararc Capital Inc. increased its stake in Seagate Technology PLC by 0.7% in the first quarter. Cleararc Capital Inc. now owns 7,195 shares of the data storage provider’s stock valued at $330,000 after buying an additional 51 shares in the last quarter. Allianz Asset Management AG increased its stake in Seagate Technology PLC by 0.6% in the fourth quarter. Allianz Asset Management AG now owns 17,326 shares of the data storage provider’s stock valued at $661,000 after buying an additional 100 shares in the last quarter. Cornerstone Investment Partners LLC increased its stake in Seagate Technology PLC by 0.3% in the first quarter. Cornerstone Investment Partners LLC now owns 39,580 shares of the data storage provider’s stock valued at $1,818,000 after buying an additional 110 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in Seagate Technology PLC by 1.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,766 shares of the data storage provider’s stock valued at $333,000 after buying an additional 115 shares in the last quarter. Finally, Dumont & Blake Investment Advisors LLC increased its stake in Seagate Technology PLC by 0.7% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 16,163 shares of the data storage provider’s stock valued at $742,000 after buying an additional 115 shares in the last quarter. 86.60% of the stock is owned by hedge funds and other institutional investors.

Shares of Seagate Technology PLC (NASDAQ:STX) opened at 39.33 on Friday. Seagate Technology PLC has a one year low of $30.09 and a one year high of $50.96. The firm has a market capitalization of $11.67 billion, a PE ratio of 16.19 and a beta of 1.73. The firm’s 50 day moving average is $40.54 and its 200-day moving average is $43.52.

Seagate Technology PLC (NASDAQ:STX) last posted its quarterly earnings results on Wednesday, April 26th. The data storage provider reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.04. Seagate Technology PLC had a net margin of 6.61% and a return on equity of 79.83%. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company earned $0.22 earnings per share. The business’s revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Seagate Technology PLC will post $4.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Wednesday, June 21st were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Monday, June 19th. This represents a $2.52 dividend on an annualized basis and a yield of 6.39%. Seagate Technology PLC’s dividend payout ratio is currently 103.70%.

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Several equities research analysts have issued reports on STX shares. Citigroup Inc. decreased their price objective on shares of Seagate Technology PLC from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Tuesday. Jefferies Group LLC decreased their price objective on shares of Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Barclays PLC downgraded shares of Seagate Technology PLC from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $49.00 to $40.00 in a research note on Thursday, July 13th. Needham & Company LLC boosted their price objective on shares of Seagate Technology PLC from $55.00 to $57.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $45.00 price objective on shares of Seagate Technology PLC in a research note on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $43.48.

In other Seagate Technology PLC news, SVP Mark Re sold 9,607 shares of Seagate Technology PLC stock in a transaction on Monday, May 15th. The stock was 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 directly owns 40,470 shares of the company’s stock, valued at $1,759,230.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Luczo sold 100,000 shares of Seagate Technology PLC stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $50.00, for a total value of $5,000,000.00. Following the transaction, the chief executive officer now directly owns 27,188 shares of the company’s stock, valued at $1,359,400. The disclosure for this sale can be found here. Insiders have sold 116,456 shares of company stock worth $5,715,313 in the last quarter. 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.

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

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