Congress Asset Management Co. MA bought a new stake in Motorola Solutions Inc (NYSE:MSI) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,900 shares of the communications equipment provider’s stock, valued at approximately $1,346,000.
A number of other large investors also recently modified their holdings of the business. Hexavest Inc. purchased a new position in shares of Motorola Solutions during the 2nd quarter worth $30,000. Ruggie Capital Group acquired a new position in Motorola Solutions during the 2nd quarter worth about $35,000. Prestige Wealth Management Group LLC acquired a new position in Motorola Solutions during the 2nd quarter worth about $43,000. Trustcore Financial Services LLC raised its position in Motorola Solutions by 613.5% in the 2nd quarter. Trustcore Financial Services LLC now owns 1,163 shares of the communications equipment provider’s stock valued at $54,000 after purchasing an additional 1,000 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position in Motorola Solutions by 254.2% in the 3rd quarter. AdvisorNet Financial Inc now owns 340 shares of the communications equipment provider’s stock valued at $58,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 87.47% of the company’s stock.
In other Motorola Solutions news, Director Lake (Offshore) Aiv Gp Silver sold 5,471,271 shares of Motorola Solutions stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $175.75, for a total value of $961,575,878.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Q. Brown sold 79,164 shares of Motorola Solutions stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $175.41, for a total value of $13,886,157.24. The disclosure for this sale can be found here. Insiders have sold a total of 5,815,070 shares of company stock worth $1,022,249,503 in the last 90 days. 2.99% of the stock is currently owned by company insiders.
A number of research firms have issued reports on MSI. MKM Partners increased their price target on Motorola Solutions to $170.00 in a research report on Friday, August 2nd. Citigroup increased their price target on Motorola Solutions from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Deutsche Bank increased their price target on Motorola Solutions from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on Motorola Solutions from $150.00 to $151.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, Barclays began coverage on Motorola Solutions in a research report on Wednesday, August 7th. They issued an “overweight” rating and a $195.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $160.50.
Shares of NYSE MSI traded down $0.07 during midday trading on Friday, hitting $162.13. 7,082 shares of the company’s stock were exchanged, compared to its average volume of 1,277,152. Motorola Solutions Inc has a twelve month low of $108.25 and a twelve month high of $182.28. The company has a market cap of $26.92 billion, a PE ratio of 23.72, a P/E/G ratio of 2.69 and a beta of 0.58. The firm’s fifty day simple moving average is $167.83 and its 200-day simple moving average is $164.40.
Motorola Solutions (NYSE:MSI) last released its quarterly earnings results on Wednesday, October 30th. The communications equipment provider reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.09. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.99 billion. Motorola Solutions had a negative return on equity of 114.01% and a net margin of 13.50%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 EPS. On average, analysts anticipate that Motorola Solutions Inc will post 7.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were paid a dividend of $0.57 per share. The ex-dividend date was Thursday, September 12th. This represents a $2.28 dividend on an annualized basis and a yield of 1.41%. Motorola Solutions’s dividend payout ratio is presently 33.38%.
About Motorola Solutions
Motorola Solutions, Inc provides mission-critical communication solutions the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Services and Software. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video solutions, as well as the implementation, optimization, and integration of networks, devices, software, and applications for government, public safety and first-responder agencies, municipalities, and commercial and industrial customers.
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