Rhumbline Advisers trimmed its position in shares of Plantronics Inc (NYSE:PLT) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,006 shares of the technology company’s stock after selling 8,186 shares during the quarter. Rhumbline Advisers owned 0.23% of Plantronics worth $3,779,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American International Group Inc. lifted its holdings in shares of Plantronics by 3.1% during the 3rd quarter. American International Group Inc. now owns 91,089 shares of the technology company’s stock valued at $4,028,000 after buying an additional 2,775 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in shares of Plantronics by 7.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock valued at $15,689,000 after buying an additional 22,414 shares during the period. Bessemer Group Inc. lifted its holdings in shares of Plantronics by 25.9% during the 3rd quarter. Bessemer Group Inc. now owns 38,400 shares of the technology company’s stock valued at $1,698,000 after buying an additional 7,900 shares during the period. Shell Asset Management Co. bought a new position in shares of Plantronics during the 4th quarter valued at $7,920,000. Finally, Dean Investment Associates LLC bought a new position in shares of Plantronics during the 3rd quarter valued at $2,968,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Brian S. Dexheimer sold 2,500 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $58.52, for a total value of $146,300.00. Following the transaction, the director now directly owns 18,002 shares of the company’s stock, valued at approximately $1,053,477.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Joseph B. Burton sold 5,117 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $57.51, for a total value of $294,278.67. Following the completion of the transaction, the chief executive officer now directly owns 89,685 shares in the company, valued at $5,157,784.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,799 shares of company stock worth $508,823. 3.20% of the stock is owned by insiders.
Plantronics (NYSE:PLT) last announced its earnings results on Tuesday, January 30th. The technology company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.23. Plantronics had a return on equity of 22.22% and a net margin of 1.03%. The company had revenue of $226.50 million for the quarter, compared to analysts’ expectations of $220.17 million. During the same period last year, the firm earned $0.79 EPS. Plantronics’s revenue for the quarter was down 2.7% compared to the same quarter last year. analysts anticipate that Plantronics Inc will post 2.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Tuesday, February 20th were issued a $0.15 dividend. The ex-dividend date was Friday, February 16th. This represents a $0.60 dividend on an annualized basis and a yield of 1.02%. Plantronics’s dividend payout ratio is currently 285.73%.
PLT has been the topic of several research analyst reports. TheStreet raised Plantronics from a “c+” rating to a “b” rating in a report on Friday, November 24th. Sidoti raised Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, January 2nd. Northland Securities set a $60.00 target price on Plantronics and gave the stock a “buy” rating in a report on Friday, January 12th. Finally, Roth Capital raised their target price on Plantronics from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $60.00.
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Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.
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