Tower Research Capital LLC TRC cut its stake in shares of Plantronics Inc (NYSE:PLT) by 70.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,854 shares of the technology company’s stock after selling 4,400 shares during the period. Tower Research Capital LLC TRC’s holdings in Plantronics were worth $141,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Plantronics by 4.2% during the 2nd quarter. BlackRock Inc. now owns 3,784,999 shares of the technology company’s stock worth $288,606,000 after acquiring an additional 152,066 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Plantronics by 2.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 880,808 shares of the technology company’s stock worth $67,163,000 after acquiring an additional 20,383 shares in the last quarter. Renaissance Technologies LLC lifted its position in Plantronics by 76.0% during the 2nd quarter. Renaissance Technologies LLC now owns 712,500 shares of the technology company’s stock worth $54,328,000 after acquiring an additional 307,700 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Plantronics by 26.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 412,306 shares of the technology company’s stock worth $24,891,000 after acquiring an additional 85,857 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in Plantronics by 13.3% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 382,570 shares of the technology company’s stock worth $29,171,000 after acquiring an additional 45,000 shares in the last quarter. 79.64% of the stock is currently owned by hedge funds and other institutional investors.
PLT stock opened at $56.53 on Monday. The company has a current ratio of 7.40, a quick ratio of 6.86 and a debt-to-equity ratio of 1.32. Plantronics Inc has a 52-week low of $44.18 and a 52-week high of $82.28. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 20.86 and a beta of 1.10.
Plantronics (NYSE:PLT) last posted its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.07). Plantronics had a positive return on equity of 25.39% and a negative net margin of 0.60%. The business had revenue of $221.31 million for the quarter, compared to analysts’ expectations of $207.79 million. On average, equities analysts forecast that Plantronics Inc will post 3.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Monday, August 20th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 17th. This represents a $0.60 annualized dividend and a yield of 1.06%. Plantronics’s dividend payout ratio is presently 22.14%.
In other Plantronics news, CEO Joseph B. Burton sold 4,727 shares of Plantronics stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $59.45, for a total transaction of $281,020.15. Following the sale, the chief executive officer now directly owns 123,599 shares in the company, valued at approximately $7,347,960.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 4,789 shares of company stock worth $285,192 over the last 90 days. 1.70% of the stock is owned by company insiders.
PLT has been the topic of several recent research reports. Sidoti raised Plantronics from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 8th. They noted that the move was a valuation call. TheStreet lowered Plantronics from a “b-” rating to a “c+” rating in a research report on Friday, September 14th. Finally, Zacks Investment Research raised Plantronics from a “hold” rating to a “strong-buy” rating and set a $92.00 price target on the stock in a research report on Saturday, July 7th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Plantronics has an average rating of “Buy” and an average price target of $68.00.
Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.
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