Maryland State Retirement & Pension System Sells 440 Shares of Zebra Technologies Corporation (NASDAQ:ZBRA)

Maryland State Retirement & Pension System decreased its stake in shares of Zebra Technologies Corporation (NASDAQ:ZBRA) by 15.5% in the first quarter, Holdings Channel.com reports. The fund owned 2,391 shares of the industrial products company’s stock after selling 440 shares during the period. Maryland State Retirement & Pension System’s holdings in Zebra Technologies were worth $676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZBRA. Kovitz Investment Group Partners LLC purchased a new stake in Zebra Technologies during the fourth quarter valued at $107,254,000. Victory Capital Management Inc. raised its stake in Zebra Technologies by 27.5% during the first quarter. Victory Capital Management Inc. now owns 1,183,710 shares of the industrial products company’s stock valued at $334,469,000 after purchasing an additional 255,193 shares in the last quarter. Pacer Advisors Inc. raised its stake in Zebra Technologies by 5,704.9% during the first quarter. Pacer Advisors Inc. now owns 259,363 shares of the industrial products company’s stock valued at $73,286,000 after purchasing an additional 254,895 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Zebra Technologies by 20,849.2% in the first quarter. GAMMA Investing LLC now owns 255,999 shares of the industrial products company’s stock valued at $72,335,000 after acquiring an additional 254,777 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Zebra Technologies by 36.4% in the first quarter. Bank of New York Mellon Corp now owns 442,788 shares of the industrial products company’s stock valued at $125,114,000 after acquiring an additional 118,247 shares during the period. Institutional investors own 91.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ZBRA. Morgan Stanley increased their target price on shares of Zebra Technologies from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. UBS Group reduced their price target on shares of Zebra Technologies from $425.00 to $410.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. BNP Paribas Exane raised shares of Zebra Technologies from a “neutral” rating to an “outperform” rating and set a $408.00 price target on the stock in a research note on Thursday, July 10th. Truist Financial raised their price target on shares of Zebra Technologies from $269.00 to $319.00 and gave the stock a “hold” rating in a research note on Wednesday, August 6th. Finally, Barclays raised their price target on shares of Zebra Technologies from $263.00 to $301.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $357.44.

Zebra Technologies Stock Up 2.9%

NASDAQ:ZBRA opened at $337.80 on Thursday. Zebra Technologies Corporation has a fifty-two week low of $205.73 and a fifty-two week high of $427.76. The stock has a market capitalization of $17.18 billion, a P/E ratio of 31.90 and a beta of 1.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.03 and a current ratio of 1.46. The company’s 50-day simple moving average is $315.28 and its 200-day simple moving average is $298.82.

Zebra Technologies (NASDAQ:ZBRA) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.30. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Zebra Technologies had a net margin of 10.56% and a return on equity of 18.95%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business earned $3.18 EPS. On average, equities analysts anticipate that Zebra Technologies Corporation will post 13.71 earnings per share for the current fiscal year.

Zebra Technologies declared that its Board of Directors has approved a stock buyback plan on Tuesday, August 5th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 1.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.