Marks Group Wealth Management Inc cut its holdings in Motorola Solutions, Inc. (NYSE:MSI – Free Report) by 7.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 888 shares of the communications equipment provider’s stock after selling 70 shares during the period. Marks Group Wealth Management Inc’s holdings in Motorola Solutions were worth $373,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MSI. Nuveen LLC bought a new stake in Motorola Solutions in the first quarter worth $650,426,000. Vanguard Group Inc. raised its stake in shares of Motorola Solutions by 1.5% in the first quarter. Vanguard Group Inc. now owns 21,501,114 shares of the communications equipment provider’s stock valued at $9,413,403,000 after acquiring an additional 321,280 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Motorola Solutions by 541.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 331,910 shares of the communications equipment provider’s stock worth $145,312,000 after acquiring an additional 280,145 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Motorola Solutions by 49.1% during the 1st quarter. Hsbc Holdings PLC now owns 746,011 shares of the communications equipment provider’s stock worth $325,558,000 after purchasing an additional 245,739 shares during the period. Finally, Congress Asset Management Co. bought a new position in Motorola Solutions during the 2nd quarter valued at about $87,162,000. 84.17% of the stock is currently owned by hedge funds and other institutional investors.
Motorola Solutions Price Performance
NYSE MSI opened at $456.94 on Tuesday. The company has a market cap of $76.13 billion, a PE ratio of 36.79, a P/E/G ratio of 3.62 and a beta of 0.97. The firm’s 50 day moving average price is $462.84 and its 200-day moving average price is $434.55. The company has a debt-to-equity ratio of 3.86, a quick ratio of 1.54 and a current ratio of 1.73. Motorola Solutions, Inc. has a 52-week low of $388.90 and a 52-week high of $507.82.
Motorola Solutions Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.0109 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Monday, September 15th. Motorola Solutions’s dividend payout ratio is presently 35.10%.
Insider Activity
In other news, COO John P. Molloy sold 37,514 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $462.38, for a total value of $17,345,723.32. Following the completion of the sale, the chief operating officer owned 59,328 shares of the company’s stock, valued at $27,432,080.64. This trade represents a 38.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory Q. Brown sold 50,000 shares of the firm’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $483.50, for a total value of $24,175,000.00. Following the completion of the sale, the chief executive officer directly owned 46,936 shares of the company’s stock, valued at approximately $22,693,556. This represents a 51.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 248,493 shares of company stock valued at $116,848,278 over the last 90 days. 1.44% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Wolfe Research started coverage on shares of Motorola Solutions in a research note on Monday, July 7th. They issued a “peer perform” rating for the company. Barclays decreased their price target on Motorola Solutions from $511.00 to $509.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Motorola Solutions in a research report on Saturday, September 27th. UBS Group lifted their target price on Motorola Solutions from $490.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Finally, Evercore ISI upped their price target on shares of Motorola Solutions from $500.00 to $525.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $513.78.
Check Out Our Latest Research Report on MSI
About Motorola Solutions
Motorola Solutions, Inc provides public safety and enterprise security solutions in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and Services. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video security devices and infrastructure, as well as the implementation and integration of systems, devices, software, and applications for government, public safety, and commercial customers who operate private communications networks and video security solutions, as well as manage a mobile workforce.
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