Zebra Technologies Corporation (NASDAQ:ZBRA) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in Zebra Technologies Corporation by 6.1% during Q1, holding 1,335,864 shares worth approximately $377.46 million as of its latest SEC filing.
• Zebra Technologies reported earnings per share (EPS) of $3.61 for the last quarter, surpassing estimates and showing a year-over-year revenue increase of 6.2%.
• The company has approved a $250 million stock repurchase program, indicating that its board believes its shares are undervalued.

Invesco Ltd. lowered its position in shares of Zebra Technologies Corporation (NASDAQ:ZBRA - Free Report) by 6.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,335,864 shares of the industrial products company's stock after selling 87,122 shares during the period. Invesco Ltd. owned approximately 2.60% of Zebra Technologies worth $377,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ZBRA. Brown Advisory Inc. boosted its position in shares of Zebra Technologies by 8.7% during the 1st quarter. Brown Advisory Inc. now owns 1,751 shares of the industrial products company's stock worth $495,000 after purchasing an additional 140 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Zebra Technologies by 33.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,912 shares of the industrial products company's stock worth $2,236,000 after purchasing an additional 1,964 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Zebra Technologies by 6.4% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,192 shares of the industrial products company's stock worth $460,000 after purchasing an additional 72 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Zebra Technologies by 1.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,473 shares of the industrial products company's stock worth $981,000 after purchasing an additional 66 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in Zebra Technologies by 6.3% in the 1st quarter. Asset Management One Co. Ltd. now owns 21,321 shares of the industrial products company's stock valued at $6,024,000 after buying an additional 1,267 shares during the period. Institutional investors and hedge funds own 91.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup reissued 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. Needham & Company LLC raised their price target on shares of Zebra Technologies from $325.00 to $345.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Wall Street Zen cut shares of Zebra Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Morgan Stanley raised their price target on shares of Zebra Technologies from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Robert W. Baird raised their price objective on shares of Zebra Technologies from $320.00 to $367.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.44.

Zebra Technologies Trading Down 3.0%

Shares of Zebra Technologies stock traded down $10.09 during trading hours on Thursday, hitting $327.71. The company's stock had a trading volume of 604,799 shares, compared to its average volume of 597,886. Zebra Technologies Corporation has a 1-year low of $205.73 and a 1-year high of $427.76. The business has a fifty day moving average of $316.01 and a 200 day moving average of $298.33. The company has a market capitalization of $16.67 billion, a PE ratio of 30.95 and a beta of 1.75. 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 posted its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.61 EPS for the quarter, beating analysts' consensus estimates of $3.31 by $0.30. Zebra Technologies had a net margin of 10.56% and a return on equity of 18.95%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the firm posted $3.18 EPS. The firm's revenue was up 6.2% compared to the same quarter last year. As a group, equities analysts forecast that Zebra Technologies Corporation will post 13.71 EPS for the current year.

Zebra Technologies declared that its board has approved a stock buyback plan on Tuesday, August 5th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 1.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

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.