Hanson & Doremus Investment Management lowered its position in shares of Plantronics Inc. (NYSE:PLT) by 1.5% during the second quarter, Holdings Channel reports. The firm owned 13,136 shares of the company’s stock after selling 200 shares during the period. Hanson & Doremus Investment Management’s holdings in Plantronics were worth $578,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Invictus RG purchased a new stake in shares of Plantronics during the first quarter worth approximately $149,000. NN Investment Partners Holdings N.V. bought a new position in Plantronics during the first quarter worth about $152,000. HBK Investments L P boosted its position in Plantronics by 5.0% in the first quarter. HBK Investments L P now owns 8,400 shares of the company’s stock worth $329,000 after buying an additional 400 shares during the period. Pacad Investment Ltd. boosted its position in Plantronics by 70.6% in the first quarter. Pacad Investment Ltd. now owns 8,700 shares of the company’s stock worth $341,000 after buying an additional 3,600 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in Plantronics during the first quarter worth about $466,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.
Plantronics Inc. (NYSE:PLT) traded up 0.02% during trading on Friday, hitting $50.93. 24,979 shares of the stock were exchanged. The stock has a market cap of $1.64 billion, a P/E ratio of 25.24 and a beta of 1.59. Plantronics Inc. has a 52 week low of $32.13 and a 52 week high of $55.09. The stock has a 50 day moving average of $50.98 and a 200-day moving average of $45.64.
Plantronics (NYSE:PLT) last issued its earnings results on Tuesday, August 2nd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. The company had revenue of $223.10 million for the quarter, compared to analysts’ expectations of $216.70 million. Plantronics had a net margin of 7.73% and a return on equity of 24.55%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Equities analysts expect that Plantronics Inc. will post $3.19 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. set a $55.00 price objective on shares of Plantronics and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. TheStreet raised shares of Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research raised shares of Plantronics from a “hold” rating to a “strong-buy” rating and set a $58.00 price objective on the stock in a research report on Tuesday, August 9th.
In related news, Director Brian S. Dexheimer sold 4,000 shares of Plantronics stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $49.97, for a total value of $199,880.00. Following the transaction, the director now owns 18,384 shares in the company, valued at approximately $918,648.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO S Kenneth Kannappan sold 14,946 shares of Plantronics stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $51.00, for a total transaction of $762,246.00. Following the completion of the transaction, the chief executive officer now owns 125,055 shares in the company, valued at approximately $6,377,805. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.
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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