State Board of Administration of Florida Retirement System lowered its holdings in shares of Zebra Technologies Co. (NASDAQ:ZBRA – Get Rating) by 1.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 67,100 shares of the industrial products company’s stock after selling 704 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Zebra Technologies were worth $27,759,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Zebra Technologies by 9.6% during the 4th quarter. BlackRock Inc. now owns 5,302,297 shares of the industrial products company’s stock worth $3,155,927,000 after buying an additional 462,751 shares in the last quarter. State Street Corp increased its holdings in Zebra Technologies by 2.5% in the 4th quarter. State Street Corp now owns 2,183,570 shares of the industrial products company’s stock worth $1,299,661,000 after purchasing an additional 53,557 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Zebra Technologies by 5.4% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,306,119 shares of the industrial products company’s stock worth $777,402,000 after purchasing an additional 67,091 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Zebra Technologies by 3.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,139,688 shares of the industrial products company’s stock worth $678,342,000 after purchasing an additional 39,547 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Zebra Technologies by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,018,558 shares of the industrial products company’s stock worth $604,806,000 after purchasing an additional 20,413 shares in the last quarter. Institutional investors and hedge funds own 85.30% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on ZBRA shares. Robert W. Baird lowered their target price on Zebra Technologies from $550.00 to $440.00 in a report on Wednesday, May 4th. Stephens lowered their target price on Zebra Technologies from $600.00 to $500.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley raised Zebra Technologies from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $400.00 to $335.00 in a report on Monday, May 23rd. UBS Group decreased their price target on Zebra Technologies from $510.00 to $495.00 and set a “buy” rating for the company in a research note on Thursday. Finally, StockNews.com cut Zebra Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, June 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $453.33.
Zebra Technologies Stock Up 0.3 %
Zebra Technologies (NASDAQ:ZBRA – Get Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $4.61 EPS for the quarter, beating the consensus estimate of $3.93 by $0.68. Zebra Technologies had a return on equity of 31.30% and a net margin of 8.56%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the company earned $4.17 EPS. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that Zebra Technologies Co. will post 17.76 EPS for the current year.
Zebra Technologies announced that its Board of Directors has approved a stock repurchase plan on Tuesday, May 17th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 5.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
About Zebra Technologies
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, which produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers, which produce images which are used for personal identification, access control, and financial transactions; RFID printers that encode data into passive RFID transponders; accessories and options for our printers, including 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.
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