Deutsche Bank AG Raises Holdings in Plantronics (PLT)

Deutsche Bank AG grew its stake in shares of Plantronics (NYSE:PLT) by 30.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 148,462 shares of the technology company’s stock after purchasing an additional 34,418 shares during the quarter. Deutsche Bank AG owned approximately 0.45% of Plantronics worth $7,476,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in shares of Plantronics by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 858,695 shares of the technology company’s stock valued at $37,972,000 after purchasing an additional 18,134 shares during the period. LSV Asset Management boosted its stake in shares of Plantronics by 2.6% during the fourth quarter. LSV Asset Management now owns 595,194 shares of the technology company’s stock valued at $29,985,000 after purchasing an additional 14,900 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Plantronics by 12.2% during the fourth quarter. Renaissance Technologies LLC now owns 337,300 shares of the technology company’s stock valued at $16,993,000 after purchasing an additional 36,600 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Plantronics by 7.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 311,399 shares of the technology company’s stock valued at $15,689,000 after purchasing an additional 22,414 shares during the period. Finally, Foundry Partners LLC boosted its stake in shares of Plantronics by 3.3% during the fourth quarter. Foundry Partners LLC now owns 266,520 shares of the technology company’s stock valued at $13,427,000 after purchasing an additional 8,491 shares during the period. 94.14% of the stock is owned by hedge funds and other institutional investors.

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Shares of Plantronics stock opened at $59.26 on Friday. The company has a quick ratio of 6.16, a current ratio of 6.76 and a debt-to-equity ratio of 1.50. The company has a market cap of $1,952.12, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 1.49 and a beta of 1.24. Plantronics has a 52 week low of $41.28 and a 52 week high of $61.86.

Plantronics (NYSE:PLT) last announced its earnings results on Tuesday, January 30th. The technology company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.23. The company had revenue of $226.50 million during the quarter, compared to the consensus estimate of $220.17 million. Plantronics had a return on equity of 22.22% and a net margin of 1.03%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 earnings per share. equities analysts predict that Plantronics will post 2.52 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Tuesday, February 20th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.01%. Plantronics’s dividend payout ratio is presently 24.19%.

A number of analysts have recently weighed in on PLT shares. Sidoti raised Plantronics from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday, January 2nd. Northland Securities set a $60.00 price objective on Plantronics and gave the company a “buy” rating in a research note on Friday, January 12th. Roth Capital increased their price objective on Plantronics from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. TheStreet lowered Plantronics from a “b” rating to a “c” rating in a research note on Friday, February 2nd. Finally, ValuEngine raised Plantronics from a “hold” rating to a “buy” rating in a research note on Thursday, March 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $60.00.

In related news, CEO Joseph B. Burton sold 5,117 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $57.51, for a total transaction of $294,278.67. Following the completion of the transaction, the chief executive officer now owns 89,685 shares in the company, valued at $5,157,784.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Shantanu Sarkar sold 1,120 shares of the company’s stock in a transaction that occurred on Thursday, March 29th. The shares were sold at an average price of $60.00, for a total value of $67,200.00. Following the transaction, the insider now owns 15,807 shares of the company’s stock, valued at approximately $948,420. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,450 shares of company stock valued at $608,318. 3.20% of the stock is owned by corporate insiders.

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Plantronics Company Profile

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 also manufactures and markets specialty telephone products under the Clarity brand.

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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