PNC Financial Services Group Inc. Sells 2,378 Shares of Zebra Technologies Co. (NASDAQ:ZBRA)

PNC Financial Services Group Inc. cut its stake in shares of Zebra Technologies Co. (NASDAQ:ZBRA) by 12.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,649 shares of the industrial products company’s stock after selling 2,378 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Zebra Technologies were worth $4,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Zebra Technologies during the fourth quarter valued at $44,000. Tortoise Investment Management LLC boosted its position in shares of Zebra Technologies by 100.0% during the fourth quarter. Tortoise Investment Management LLC now owns 200 shares of the industrial products company’s stock valued at $55,000 after buying an additional 100 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Zebra Technologies during the fourth quarter valued at $69,000. GAMMA Investing LLC purchased a new stake in shares of Zebra Technologies during the fourth quarter valued at $78,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of Zebra Technologies by 620.3% during the third quarter. SRS Capital Advisors Inc. now owns 533 shares of the industrial products company’s stock valued at $126,000 after buying an additional 459 shares during the last quarter. 91.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ZBRA. BNP Paribas raised Zebra Technologies from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $258.00 to $305.00 in a research report on Thursday, June 13th. Wolfe Research raised Zebra Technologies from a “peer perform” rating to an “outperform” rating and set a $337.00 price objective on the stock in a research report on Monday, April 8th. UBS Group increased their price objective on Zebra Technologies from $340.00 to $368.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. StockNews.com raised Zebra Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, TD Cowen increased their price objective on Zebra Technologies from $300.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zebra Technologies has a consensus rating of “Hold” and a consensus price target of $323.36.

Insider Activity

In other news, insider Michael Cho sold 1,657 shares of Zebra Technologies stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $320.51, for a total transaction of $531,085.07. Following the transaction, the insider now directly owns 3,809 shares of the company’s stock, valued at approximately $1,220,822.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.04% of the company’s stock.

Zebra Technologies Trading Down 2.4 %

Shares of NASDAQ:ZBRA opened at $295.25 on Wednesday. The stock has a market capitalization of $15.18 billion, a price-to-earnings ratio of 58.58 and a beta of 1.70. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.56 and a current ratio of 0.99. The stock’s 50-day simple moving average is $305.51 and its two-hundred day simple moving average is $281.14. Zebra Technologies Co. has a 52-week low of $194.59 and a 52-week high of $328.70.

Zebra Technologies (NASDAQ:ZBRA) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.13 by $0.71. Zebra Technologies had a return on equity of 13.05% and a net margin of 5.99%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $3.59 EPS. The business’s quarterly revenue was down 16.4% on a year-over-year basis. Analysts expect that Zebra Technologies Co. will post 10.76 EPS for the current 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.