Plantronics Inc. (NYSE:PLT) insider S Kenneth Kannappan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $54.13, for a total transaction of $1,082,600.00. Following the sale, the insider now owns 123,142 shares of the company’s stock, valued at approximately $6,665,676.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

S Kenneth Kannappan also recently made the following trade(s):

  • On Tuesday, September 6th, S Kenneth Kannappan sold 14,946 shares of Plantronics stock. The stock was sold at an average price of $51.00, for a total transaction of $762,246.00.
  • On Tuesday, August 23rd, S Kenneth Kannappan sold 12,632 shares of Plantronics stock. The stock was sold at an average price of $50.19, for a total transaction of $634,000.08.

Shares of Plantronics Inc. (NYSE:PLT) opened at 53.27 on Wednesday. Plantronics Inc. has a 52-week low of $32.13 and a 52-week high of $54.51. The company has a 50-day moving average of $51.13 and a 200 day moving average of $48.19. The stock has a market cap of $1.72 billion, a P/E ratio of 25.14 and a beta of 1.56.

Plantronics (NYSE:PLT) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. Plantronics had a net margin of 8.02% and a return on equity of 25.15%. The company earned $216.20 million during the quarter, compared to the consensus estimate of $220.91 million. During the same quarter last year, the company earned $0.70 earnings per share. Plantronics’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts forecast that Plantronics Inc. will post $3.16 EPS for the current fiscal year.

Insider Buying and Selling by Quarter for Plantronics (NYSE:PLT)

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Friday, November 18th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, November 16th. Plantronics’s dividend payout ratio (DPR) is 28.17%.

Several hedge funds have recently added to or reduced their stakes in PLT. Vanguard Group Inc. increased its stake in Plantronics by 0.8% in the second quarter. Vanguard Group Inc. now owns 2,523,439 shares of the company’s stock worth $111,031,000 after buying an additional 20,976 shares during the last quarter. BlackRock Fund Advisors increased its stake in Plantronics by 5.7% in the third quarter. BlackRock Fund Advisors now owns 1,812,671 shares of the company’s stock worth $94,186,000 after buying an additional 97,705 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Plantronics by 4.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,030,535 shares of the company’s stock worth $45,344,000 after buying an additional 39,740 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Plantronics by 20.2% in the third quarter. Bank of New York Mellon Corp now owns 669,245 shares of the company’s stock worth $34,774,000 after buying an additional 112,508 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Plantronics by 5.8% in the third quarter. Principal Financial Group Inc. now owns 572,009 shares of the company’s stock worth $29,722,000 after buying an additional 31,318 shares during the last quarter. 91.47% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on PLT. 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. Zacks Investment Research upgraded shares of Plantronics from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, November 8th. Finally, TheStreet upgraded shares of Plantronics from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd.

COPYRIGHT VIOLATION NOTICE: This story was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was stolen and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be accessed at https://www.thecerbatgem.com/2016/11/23/s-kenneth-kannappan-sells-20000-shares-of-plantronics-inc-plt-stock.html.

About Plantronics

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.

5 Day Chart for NYSE:PLT

Receive News & Stock Ratings for Plantronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plantronics Inc. and related stocks with our FREE daily email newsletter.