Russell Investments Group Ltd. Cuts Stock Holdings in Zebra Technologies Co. (NASDAQ:ZBRA)

Russell Investments Group Ltd. trimmed its holdings in shares of Zebra Technologies Co. (NASDAQ:ZBRAGet Rating) by 31.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,336 shares of the industrial products company’s stock after selling 12,479 shares during the period. Russell Investments Group Ltd. owned about 0.05% of Zebra Technologies worth $11,403,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ZBRA. Motley Fool Asset Management LLC boosted its holdings in shares of Zebra Technologies by 3,880.0% during the first quarter. Motley Fool Asset Management LLC now owns 1,194 shares of the industrial products company’s stock worth $494,000 after purchasing an additional 1,164 shares during the period. Newfound Research LLC boosted its holdings in shares of Zebra Technologies by 49.6% during the first quarter. Newfound Research LLC now owns 193 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 64 shares during the period. Prospera Financial Services Inc purchased a new stake in shares of Zebra Technologies during the first quarter worth about $300,000. Clearstead Advisors LLC boosted its holdings in shares of Zebra Technologies by 5.3% during the first quarter. Clearstead Advisors LLC now owns 796 shares of the industrial products company’s stock worth $329,000 after purchasing an additional 40 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in shares of Zebra Technologies by 4.3% during the first quarter. Victory Capital Management Inc. now owns 40,742 shares of the industrial products company’s stock worth $15,074,000 after purchasing an additional 1,688 shares during the period. 85.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ZBRA shares. Needham & Company LLC dropped their target price on shares of Zebra Technologies from $500.00 to $450.00 and set a “buy” rating for the company in a report on Wednesday. Robert W. Baird lowered their price objective on shares of Zebra Technologies from $550.00 to $440.00 in a report on Wednesday, May 4th. Morgan Stanley upgraded Zebra Technologies from an “underweight” rating to an “equal weight” rating and reduced their target price for the stock from $400.00 to $335.00 in a report on Monday, May 23rd. UBS Group lowered their target price on Zebra Technologies from $510.00 to $495.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Stephens reduced their price target on Zebra Technologies from $600.00 to $500.00 and set an “overweight” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $453.33.

Zebra Technologies Price Performance

Shares of ZBRA stock opened at $331.70 on Friday. The stock has a market cap of $17.42 billion, a price-to-earnings ratio of 25.63 and a beta of 1.64. The business’s fifty day moving average is $314.34 and its 200 day moving average is $377.20. Zebra Technologies Co. has a twelve month low of $283.72 and a twelve month high of $615.00. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 0.80.

Zebra Technologies (NASDAQ:ZBRAGet Rating) last released its earnings results on Tuesday, August 2nd. The industrial products company reported $4.61 EPS for the quarter, topping analysts’ consensus estimates of $3.93 by $0.68. Zebra Technologies had a return on equity of 31.30% and a net margin of 8.56%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the firm posted $4.17 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Research analysts expect that Zebra Technologies Co. will post 17.76 EPS for the current fiscal year.

Zebra Technologies announced that its board has approved a share repurchase program on Tuesday, May 17th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 5.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Zebra Technologies Profile

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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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Institutional Ownership by Quarter for Zebra Technologies (NASDAQ:ZBRA)

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