Municipal Employees Retirement System of Michigan Has $449,000 Holdings in Plantronics, Inc. (NYSE:PLT)

Municipal Employees Retirement System of Michigan reduced its position in shares of Plantronics, Inc. (NYSE:PLT) by 21.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,160 shares of the technology company’s stock after selling 2,750 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Plantronics were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Plantronics by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,762,404 shares of the technology company’s stock valued at $144,502,000 after purchasing an additional 34,223 shares during the period. State Street Corp lifted its stake in Plantronics by 3.2% in the second quarter. State Street Corp now owns 1,221,003 shares of the technology company’s stock worth $63,875,000 after acquiring an additional 38,421 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Plantronics by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 840,561 shares of the technology company’s stock worth $43,970,000 after acquiring an additional 15,332 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Plantronics by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 795,627 shares of the technology company’s stock worth $41,619,000 after acquiring an additional 15,096 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Plantronics by 0.9% in the second quarter. Northern Trust Corp now owns 680,739 shares of the technology company’s stock worth $35,609,000 after acquiring an additional 5,984 shares during the last quarter. 90.90% of the stock is owned by institutional investors.

A number of analysts have weighed in on PLT shares. Roth Capital set a $55.00 price objective on shares of Plantronics and gave the stock a “buy” rating in a report on Wednesday, November 1st. TheStreet raised shares of Plantronics from a “c+” rating to a “b” rating in a report on Friday, November 24th. Finally, Zacks Investment Research raised shares of Plantronics from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $57.33.

In related news, CEO Joseph B. Burton sold 3,188 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $51.87, for a total value of $165,361.56. Following the completion of the transaction, the chief executive officer now owns 92,373 shares of the company’s stock, valued at approximately $4,791,387.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maria Martinez sold 2,874 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $51.25, for a total transaction of $147,292.50. Following the transaction, the director now directly owns 7,389 shares of the company’s stock, valued at approximately $378,686.25. The disclosure for this sale can be found here. Insiders have sold a total of 27,145 shares of company stock worth $1,420,777 over the last 90 days. Insiders own 3.20% of the company’s stock.

Shares of Plantronics, Inc. (NYSE:PLT) traded up $1.10 on Friday, reaching $51.16. 483,679 shares of the company’s stock traded hands, compared to its average volume of 165,958. The firm has a market cap of $1,730.00, a PE ratio of 21.96, a P/E/G ratio of 1.52 and a beta of 1.30. Plantronics, Inc. has a 12 month low of $41.28 and a 12 month high of $58.27. The company has a quick ratio of 5.90, a current ratio of 6.44 and a debt-to-equity ratio of 1.27.

The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Shareholders of record on Monday, November 20th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.60 annualized dividend and a dividend yield of 1.17%. Plantronics’s payout ratio is currently 24.59%.

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Plantronics Profile

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.

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

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