Johnson Financial Group Inc. Invests $383,000 in Seagate Technology Holdings plc (NASDAQ:STX)

Johnson Financial Group Inc. bought a new position in shares of Seagate Technology Holdings plc (NASDAQ:STX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,486 shares of the data storage provider’s stock, valued at approximately $383,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STX. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Seagate Technology during the fourth quarter valued at $26,000. CVA Family Office LLC bought a new position in Seagate Technology in the 4th quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Seagate Technology in the 4th quarter worth about $28,000. Parkside Financial Bank & Trust grew its stake in Seagate Technology by 85.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 445 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 205 shares in the last quarter. Finally, Northwest Financial Advisors bought a new position in Seagate Technology in the 4th quarter worth about $31,000. Institutional investors own 92.87% of the company’s stock.

Seagate Technology Price Performance

STX stock traded up $0.73 during midday trading on Friday, hitting $94.19. 1,301,748 shares of the stock traded hands, compared to its average volume of 2,094,618. The firm has a market cap of $19.78 billion, a P/E ratio of -73.02, a PEG ratio of 192.68 and a beta of 1.06. The stock’s fifty day simple moving average is $89.73 and its 200-day simple moving average is $86.18. Seagate Technology Holdings plc has a 1-year low of $57.06 and a 1-year high of $101.26.

Seagate Technology (NASDAQ:STX) last released its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.68 billion. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.43) EPS. On average, research analysts predict that Seagate Technology Holdings plc will post 0.4 earnings per share for the current year.

Seagate Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, June 20th will be given a $0.70 dividend. The ex-dividend date is Thursday, June 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.97%. Seagate Technology’s dividend payout ratio (DPR) is -217.05%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Seagate Technology from $84.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Wedbush upgraded shares of Seagate Technology from a “neutral” rating to an “outperform” rating and set a $100.00 target price on the stock in a research note on Wednesday, May 1st. Morgan Stanley raised shares of Seagate Technology from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $73.00 to $115.00 in a research report on Tuesday, March 26th. Benchmark reissued a “hold” rating on shares of Seagate Technology in a research report on Wednesday, April 24th. Finally, Susquehanna increased their target price on shares of Seagate Technology from $50.00 to $55.00 and gave the company a “negative” rating in a research report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Seagate Technology presently has a consensus rating of “Hold” and a consensus target price of $95.50.

Insider Activity

In other news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $90.00, for a total value of $1,004,220.00. Following the sale, the senior vice president now owns 17,767 shares in the company, valued at $1,599,030. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Ban Seng Teh sold 9,703 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $95.00, for a total value of $921,785.00. Following the transaction, the executive vice president now directly owns 15,185 shares of the company’s stock, valued at $1,442,575. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP John Christopher Morris sold 11,158 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the transaction, the senior vice president now directly owns 17,767 shares in the company, valued at $1,599,030. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

About Seagate Technology

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.