Sunbelt Securities Inc. Cuts Position in Zebra Technologies Co. (NASDAQ:ZBRA)

Sunbelt Securities Inc. reduced its position in shares of Zebra Technologies Co. (NASDAQ:ZBRA) by 2.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,256 shares of the industrial products company’s stock after selling 62 shares during the quarter. Sunbelt Securities Inc.’s holdings in Zebra Technologies were worth $680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd purchased a new position in shares of Zebra Technologies in the 4th quarter worth $44,000. Tortoise Investment Management LLC increased its stake in Zebra Technologies by 100.0% during the fourth quarter. Tortoise Investment Management LLC now owns 200 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 100 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Zebra Technologies during the first quarter valued at approximately $60,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Zebra Technologies in the 4th quarter valued at approximately $69,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Zebra Technologies in the 1st quarter worth approximately $84,000. 91.03% of the stock is owned by hedge funds and other institutional investors.

Zebra Technologies Price Performance

ZBRA opened at $306.99 on Friday. The company has a market capitalization of $15.79 billion, a price-to-earnings ratio of 60.91 and a beta of 1.70. The company has a current ratio of 0.99, a quick ratio of 0.56 and a debt-to-equity ratio of 0.57. Zebra Technologies Co. has a 12-month low of $194.59 and a 12-month high of $328.70. The business’s fifty day simple moving average is $307.89 and its 200-day simple moving average is $283.77.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ZBRA. UBS Group raised their price target on Zebra Technologies from $340.00 to $368.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of Zebra Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Barclays assumed coverage on shares of Zebra Technologies in a research report on Tuesday, April 2nd. They issued an “equal weight” rating and a $292.00 price objective on the stock. BNP Paribas upgraded Zebra Technologies from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $258.00 to $305.00 in a research report on Thursday, June 13th. Finally, Robert W. Baird increased their price target on Zebra Technologies from $312.00 to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Zebra Technologies presently has an average rating of “Hold” and an average price target of $323.36.

Insider Buying and Selling

In other Zebra Technologies news, insider Michael Cho sold 1,657 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $320.51, for a total transaction of $531,085.07. Following the sale, the insider now owns 3,809 shares of the company’s stock, valued at approximately $1,220,822.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.06% of the stock is currently owned by insiders.

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.