PNC Financial Services Group Inc. Decreases Stake in Zebra Technologies Co. (NASDAQ:ZBRA)

PNC Financial Services Group Inc. lessened its position in shares of Zebra Technologies Co. (NASDAQ:ZBRA) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,849 shares of the industrial products company’s stock after selling 2,075 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Zebra Technologies were worth $5,499,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its position in Zebra Technologies by 44.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,373,792 shares of the industrial products company’s stock worth $414,117,000 after acquiring an additional 425,207 shares in the last quarter. AXA S.A. raised its stake in shares of Zebra Technologies by 62.3% in the second quarter. AXA S.A. now owns 277,864 shares of the industrial products company’s stock valued at $85,841,000 after acquiring an additional 106,630 shares during the period. Boston Partners boosted its stake in shares of Zebra Technologies by 9.7% during the 1st quarter. Boston Partners now owns 1,108,819 shares of the industrial products company’s stock worth $334,230,000 after purchasing an additional 98,045 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Zebra Technologies by 94.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 142,908 shares of the industrial products company’s stock valued at $52,922,000 after purchasing an additional 69,549 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Zebra Technologies by 556.0% in the 3rd quarter. SG Americas Securities LLC now owns 70,004 shares of the industrial products company’s stock worth $25,924,000 after purchasing an additional 59,332 shares during the period. Institutional investors own 91.03% of the company’s stock.

Analyst Ratings Changes

ZBRA has been the subject of several recent analyst reports. Needham & Company LLC boosted their target price on Zebra Technologies from $394.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Stephens upped their price objective on Zebra Technologies from $380.00 to $410.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their target price on Zebra Technologies from $380.00 to $415.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays raised their price target on shares of Zebra Technologies from $347.00 to $407.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, UBS Group boosted their price objective on shares of Zebra Technologies from $390.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $385.18.

Insiders Place Their Bets

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $381.73, for a total transaction of $701,238.01. Following the sale, the chief financial officer now owns 11,421 shares in the company, valued at approximately $4,359,738.33. The trade was a 13.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.06% of the company’s stock.

Zebra Technologies Trading Up 1.2 %

ZBRA opened at $397.19 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 54.04 and a beta of 1.64. Zebra Technologies Co. has a 12 month low of $225.83 and a 12 month high of $405.62. The stock has a fifty day moving average price of $375.69 and a 200-day moving average price of $341.07.

Zebra Technologies (NASDAQ:ZBRA) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $3.49 EPS for the quarter, beating the consensus estimate of $2.92 by $0.57. Zebra Technologies had a net margin of 8.20% and a return on equity of 15.56%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 31.3% on a year-over-year basis. As a group, equities research analysts anticipate that Zebra Technologies Co. will post 12.4 earnings per share for the current fiscal year.

Zebra Technologies Company Profile

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.