Palmer Knight Co Has $8.35 Million Stock Position in Zebra Technologies Co. (NASDAQ:ZBRA)

Palmer Knight Co trimmed its position in Zebra Technologies Co. (NASDAQ:ZBRA) by 9.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 21,606 shares of the industrial products company’s stock after selling 2,353 shares during the period. Zebra Technologies comprises approximately 3.7% of Palmer Knight Co’s portfolio, making the stock its 13th largest holding. Palmer Knight Co’s holdings in Zebra Technologies were worth $8,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZBRA. FMR LLC increased its position in Zebra Technologies by 2,423.5% in the third quarter. FMR LLC now owns 275,949 shares of the industrial products company’s stock worth $102,189,000 after purchasing an additional 265,014 shares during the period. JPMorgan Chase & Co. boosted its holdings in Zebra Technologies by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 907,065 shares of the industrial products company’s stock worth $335,905,000 after buying an additional 89,765 shares during the last quarter. State Street Corp boosted its holdings in Zebra Technologies by 3.4% during the third quarter. State Street Corp now owns 2,149,839 shares of the industrial products company’s stock worth $796,128,000 after buying an additional 70,771 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Zebra Technologies by 94.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 142,908 shares of the industrial products company’s stock worth $52,922,000 after buying an additional 69,549 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Zebra Technologies by 158.4% during the third quarter. The Manufacturers Life Insurance Company now owns 100,875 shares of the industrial products company’s stock worth $37,356,000 after buying an additional 61,842 shares during the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZBRA. StockNews.com upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. UBS Group raised their target price on Zebra Technologies from $390.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays raised their target price on Zebra Technologies from $347.00 to $407.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Morgan Stanley raised their target price on Zebra Technologies from $400.00 to $427.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 17th. Finally, Citigroup assumed coverage on Zebra Technologies in a report on Tuesday, January 14th. They set a “neutral” rating and a $430.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $401.25.

Zebra Technologies Trading Down 1.5 %

NASDAQ ZBRA opened at $399.59 on Thursday. The stock has a market capitalization of $20.61 billion, a price-to-earnings ratio of 54.37 and a beta of 1.64. The stock’s 50 day moving average price is $399.43 and its two-hundred day moving average price is $370.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.96 and a current ratio of 1.37. Zebra Technologies Co. has a 52 week low of $233.95 and a 52 week high of $427.76.

Zebra Technologies (NASDAQ:ZBRA) last released its earnings results on Tuesday, October 29th. The industrial products company reported $3.49 EPS for the quarter, beating the consensus estimate of $2.92 by $0.57. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Zebra Technologies had a return on equity of 15.56% and a net margin of 8.20%. The business’s quarterly revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. As a group, analysts anticipate that Zebra Technologies Co. will post 11.8 earnings per share for the current fiscal year.

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.