Russell Investments Group Ltd. decreased its stake in Seagate Technology PLC (NASDAQ:STX) by 69.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,313 shares of the data storage provider’s stock after selling 264,598 shares during the period. Russell Investments Group Ltd.’s holdings in Seagate Technology PLC were worth $4,430,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Gilman Hill Asset Management LLC purchased a new position in Seagate Technology PLC during the second quarter valued at approximately $624,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in Seagate Technology PLC by 168.0% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 196,363 shares of the data storage provider’s stock valued at $7,626,000 after buying an additional 123,096 shares during the period. Wright Investors Service Inc. purchased a new position in Seagate Technology PLC during the second quarter valued at approximately $233,000. Rothschild Investment Corp IL purchased a new position in Seagate Technology PLC during the second quarter valued at approximately $873,000. Finally, Guardian Investment Management purchased a new position in Seagate Technology PLC during the second quarter valued at approximately $388,000. 87.27% of the stock is currently owned by institutional investors and hedge funds.

Seagate Technology PLC (NASDAQ STX) traded up 0.16% during trading on Friday, hitting $31.07. The stock had a trading volume of 1,940,500 shares. The firm’s 50-day moving average price is $34.79 and its 200-day moving average price is $42.22. Seagate Technology PLC has a 1-year low of $30.60 and a 1-year high of $50.96. The stock has a market cap of $9.07 billion, a PE ratio of 12.04 and a beta of 1.69.

Seagate Technology PLC (NASDAQ:STX) last issued its earnings results on Tuesday, July 25th. The data storage provider reported $0.65 EPS for the quarter, missing the consensus estimate of $0.99 by $0.34. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.56 billion. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business’s revenue was down 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 EPS. On average, equities research analysts predict that Seagate Technology PLC will post $3.69 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Wednesday, September 20th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 8.12%. The ex-dividend date is Tuesday, September 19th. Seagate Technology PLC’s payout ratio is 97.67%.

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Several research firms have commented on STX. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $44.00 price target (up previously from $43.00) on shares of Seagate Technology PLC in a research report on Thursday, June 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $45.00 price target on shares of Seagate Technology PLC in a research report on Friday, June 9th. Jefferies Group LLC cut their price target on Seagate Technology PLC from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, April 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price target (down previously from $46.00) on shares of Seagate Technology PLC in a research report on Saturday, April 29th. Finally, Zacks Investment Research lowered Seagate Technology PLC from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 27th. Five equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.12.

In other news, CFO David H. Morton, Jr. sold 3,040 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $43.26, for a total value of $131,510.40. Following the completion of the transaction, the chief financial officer now owns 9,063 shares of the company’s stock, valued at approximately $392,065.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Philip G. Brace purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average cost of $33.34 per share, with a total value of $33,340.00. Following the acquisition, the insider now directly owns 62,855 shares in the company, valued at $2,095,585.70. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

About Seagate Technology PLC

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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