PNC Financial Services Group Inc. Sells 2,075 Shares of Zebra Technologies Co. (NASDAQ:ZBRA)

PNC Financial Services Group Inc. cut its position in shares of Zebra Technologies Co. (NASDAQ:ZBRA - Free Report) by 12.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Several other hedge funds also recently made changes to their positions in ZBRA. Advisors Asset Management Inc. boosted its position in shares of Zebra Technologies by 5.3% during the first quarter. Advisors Asset Management Inc. now owns 3,249 shares of the industrial products company's stock valued at $979,000 after purchasing an additional 164 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Zebra Technologies by 44.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,373,792 shares of the industrial products company's stock worth $414,117,000 after acquiring an additional 425,207 shares in the last quarter. Silvercrest Asset Management Group LLC boosted its holdings in Zebra Technologies by 18.5% in the first quarter. Silvercrest Asset Management Group LLC now owns 180,270 shares of the industrial products company's stock worth $54,341,000 after acquiring an additional 28,181 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Zebra Technologies in the first quarter worth $395,000. Finally, California State Teachers Retirement System boosted its holdings in Zebra Technologies by 2.3% in the first quarter. California State Teachers Retirement System now owns 87,480 shares of the industrial products company's stock worth $26,370,000 after acquiring an additional 1,932 shares in the last quarter. 91.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ZBRA shares. StockNews.com raised Zebra Technologies from a "hold" rating to a "buy" rating in a report on Thursday, October 31st. TD Cowen boosted their target price on Zebra Technologies from $380.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Barclays boosted their price target on Zebra Technologies from $347.00 to $407.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Redburn Atlantic upgraded Zebra Technologies to a "strong-buy" rating in a research note on Wednesday, July 31st. Finally, Truist Financial restated a "hold" rating and issued a $383.00 price target (up previously from $379.00) on shares of Zebra Technologies in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $385.18.

Zebra Technologies Stock Performance

Zebra Technologies stock traded up $4.88 during mid-day trading on Friday, reaching $397.19. 232,019 shares of the stock traded hands, compared to its average volume of 502,865. The stock has a market capitalization of $20.49 billion, a PE ratio of 54.04 and a beta of 1.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.37 and a quick ratio of 0.96. Zebra Technologies Co. has a 12-month low of $225.83 and a 12-month high of $405.62. The business's 50-day moving average is $375.69 and its 200-day moving average is $341.24.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.57. Zebra Technologies had a return on equity of 15.56% and a net margin of 8.20%. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Zebra Technologies's revenue for the quarter was up 31.3% on a year-over-year basis. As a group, sell-side analysts predict that Zebra Technologies Co. will post 12.4 EPS for the current fiscal year.

Insider Buying and Selling at Zebra Technologies

In other Zebra Technologies news, CFO Nathan Andrew Winters sold 1,837 shares of the business's stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $381.73, for a total transaction 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 approximately $4,359,738.33. The trade was a 13.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.06% of the stock is currently owned by corporate insiders.

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.