165,036 Shares in Zebra Technologies Corporation (NASDAQ:ZBRA) Purchased by Nuveen LLC

Key Points

• Nuveen LLC acquired 165,036 shares of Zebra Technologies, valued at approximately $46.63 million, marking a new investment position in the company.
• Several hedge funds, including Vanguard Group and Price T Rowe Associates, have increased their holdings in Zebra Technologies, which is now 91.03% owned by institutional investors.
• Zebra Technologies reported earnings of $3.61 per share in its recent quarter, exceeding analysts' estimates and reflecting a 6.2% increase in revenue year-over-year.

Nuveen LLC bought a new position in shares of Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 165,036 shares of the industrial products company's stock, valued at approximately $46,633,000. Nuveen LLC owned approximately 0.32% of Zebra Technologies at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Zebra Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 6,365,470 shares of the industrial products company's stock worth $1,798,627,000 after acquiring an additional 104,940 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Zebra Technologies by 7.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,296,412 shares of the industrial products company's stock worth $500,701,000 after acquiring an additional 86,766 shares in the last quarter. Victory Capital Management Inc. raised its position in Zebra Technologies by 27.5% in the 1st 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. JPMorgan Chase & Co. raised its position in Zebra Technologies by 4.7% in the 1st quarter. JPMorgan Chase & Co. now owns 978,109 shares of the industrial products company's stock valued at $276,375,000 after purchasing an additional 43,500 shares in the last quarter. Finally, Northern Trust Corp raised its position in Zebra Technologies by 17.2% in the 4th quarter. Northern Trust Corp now owns 497,363 shares of the industrial products company's stock valued at $192,092,000 after purchasing an additional 72,989 shares in the last quarter. Institutional investors and hedge funds own 91.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Robert W. Baird increased their price target on Zebra Technologies from $320.00 to $367.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Barclays set a $301.00 price target on Zebra Technologies and gave the company an "equal weight" rating in a research report on Tuesday, August 5th. Needham & Company LLC increased their price target on Zebra Technologies from $325.00 to $345.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. BNP Paribas raised Zebra Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $342.00 price target (up previously from $280.00) on shares of Zebra Technologies in a research report on Monday, July 14th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $357.44.

Zebra Technologies Stock Performance

NASDAQ ZBRA opened at $327.71 on Friday. 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 cap of $16.66 billion, a price-to-earnings ratio of 30.95 and a beta of 1.75. The business has a fifty day moving average of $316.01 and a 200-day moving average of $298.33. The company has a quick ratio of 1.03, a current ratio of 1.46 and a debt-to-equity ratio of 0.59.

Zebra Technologies (NASDAQ:ZBRA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.61 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.30. Zebra Technologies had a return on equity of 18.95% and a net margin of 10.56%. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.29 billion. During the same period in the previous year, the firm posted $3.18 earnings per share. The business's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, analysts predict that Zebra Technologies Corporation will post 13.71 earnings per share for the current fiscal year.

Zebra Technologies declared that its board has authorized a share buyback program 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 programs are typically an indication that the company's leadership believes its stock is undervalued.

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.

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