PNC Financial Services Group Inc. Reduces Stock Position in Zebra Technologies Co. (NASDAQ:ZBRA)

PNC Financial Services Group Inc. decreased its position in shares of Zebra Technologies Co. (NASDAQ:ZBRA) by 12.3% in the third quarter, HoldingsChannel reports. The firm 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 filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Zebra Technologies during the 2nd quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. boosted its holdings in Zebra Technologies by 185.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 97 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 63 shares during the last quarter. Concord Wealth Partners acquired a new stake in Zebra Technologies during the 3rd quarter worth about $30,000. Transcendent Capital Group LLC purchased a new position in shares of Zebra Technologies during the 2nd quarter valued at about $32,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Zebra Technologies by 38.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 118 shares of the industrial products company’s stock valued at $36,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 91.03% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Zebra Technologies

In other news, CFO Nathan Andrew Winters sold 1,837 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $381.73, for a total value of $701,238.01. Following the completion of the sale, the chief financial officer now owns 11,421 shares of the company’s stock, valued at $4,359,738.33. This represents a 13.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.06% of the company’s stock.

Zebra Technologies Stock Up 1.2 %

Shares of NASDAQ ZBRA opened at $397.19 on Friday. The stock has a market cap of $20.49 billion, a PE ratio of 54.04 and a beta of 1.64. The company has a current ratio of 1.37, a quick ratio of 0.96 and a debt-to-equity ratio of 0.61. Zebra Technologies Co. has a 12-month low of $225.83 and a 12-month high of $405.62. The company has a 50-day moving average of $375.69 and a 200 day moving average of $341.07.

Zebra Technologies (NASDAQ:ZBRA) last posted 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. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Zebra Technologies had a return on equity of 15.56% and a net margin of 8.20%. The business’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. As a group, sell-side analysts predict that Zebra Technologies Co. will post 12.4 EPS for the current fiscal year.

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 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.