JPMorgan Chase & Co. Raises Stock Position in Zebra Technologies Corporation (NASDAQ:ZBRA)

JPMorgan Chase & Co. lifted its stake in shares of Zebra Technologies Corporation (NASDAQ:ZBRA) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 978,109 shares of the industrial products company’s stock after acquiring an additional 43,500 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.90% of Zebra Technologies worth $276,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ZBRA. Federated Hermes Inc. increased its position in shares of Zebra Technologies by 51.8% during the fourth quarter. Federated Hermes Inc. now owns 416 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 142 shares during the period. Sterling Capital Management LLC increased its position in shares of Zebra Technologies by 47.8% during the fourth quarter. Sterling Capital Management LLC now owns 2,559 shares of the industrial products company’s stock worth $988,000 after acquiring an additional 828 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Zebra Technologies by 4.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 15,307 shares of the industrial products company’s stock worth $5,910,000 after acquiring an additional 600 shares during the period. Townsquare Capital LLC increased its position in shares of Zebra Technologies by 32.9% during the fourth quarter. Townsquare Capital LLC now owns 7,546 shares of the industrial products company’s stock worth $2,914,000 after acquiring an additional 1,868 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new position in shares of Zebra Technologies during the fourth quarter worth approximately $396,000. 91.03% of the stock is owned by hedge funds and other institutional investors.

Zebra Technologies Price Performance

Shares of ZBRA opened at $328.14 on Wednesday. The company has a market cap of $16.69 billion, a price-to-earnings ratio of 30.99 and a beta of 1.75. Zebra Technologies Corporation has a twelve month low of $205.73 and a twelve month high of $427.76. The company has a quick ratio of 1.03, a current ratio of 1.46 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $314.35 and a two-hundred day moving average of $298.55.

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

Zebra Technologies announced that its board has approved a stock buyback program on Tuesday, August 5th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Zebra Technologies from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Truist Financial lifted their price objective on shares of Zebra Technologies from $269.00 to $319.00 and gave the company a “hold” rating in a report on Wednesday, August 6th. UBS Group cut their price objective on shares of Zebra Technologies from $425.00 to $410.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Barclays lifted their price objective on shares of Zebra Technologies from $263.00 to $301.00 and gave the company an “equal weight” rating in a report on Tuesday, August 5th. Finally, Needham & Company LLC lifted their price objective on shares of Zebra Technologies from $325.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $357.44.

Zebra Technologies 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.