Legacy CG LLC reduced its stake in Motorola Solutions, Inc. (NYSE:MSI – Free Report) by 9.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,721 shares of the communications equipment provider’s stock after selling 1,415 shares during the quarter. Motorola Solutions comprises approximately 1.5% of Legacy CG LLC’s holdings, making the stock its 27th largest position. Legacy CG LLC’s holdings in Motorola Solutions were worth $6,119,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its stake in Motorola Solutions by 4.3% during the second quarter. State Street Corp now owns 7,849,952 shares of the communications equipment provider’s stock valued at $3,269,332,000 after buying an additional 323,725 shares during the last quarter. Aristotle Capital Management LLC purchased a new stake in shares of Motorola Solutions in the first quarter worth $983,432,000. Amundi grew its stake in shares of Motorola Solutions by 1.9% in the first quarter. Amundi now owns 1,600,491 shares of the communications equipment provider’s stock worth $694,565,000 after acquiring an additional 30,264 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Motorola Solutions by 34.3% in the first quarter. Bank of America Corp DE now owns 1,381,506 shares of the communications equipment provider’s stock worth $599,532,000 after acquiring an additional 352,679 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Motorola Solutions by 5.0% during the first quarter. Janus Henderson Group PLC now owns 1,244,326 shares of the communications equipment provider’s stock valued at $539,958,000 after acquiring an additional 59,294 shares in the last quarter. Hedge funds and other institutional investors own 84.17% of the company’s stock.
Insider Activity
In other news, CEO Gregory Brown sold 14,220 shares of Motorola Solutions stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $485.22, for a total value of $6,899,828.40. Following the completion of the sale, the chief executive officer directly owned 66,648 shares in the company, valued at $32,338,942.56. The trade was a 17.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kathryn A. Moore sold 1,004 shares of Motorola Solutions stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $476.96, for a total transaction of $478,867.84. Following the completion of the sale, the senior vice president owned 1,282 shares of the company’s stock, valued at $611,462.72. This represents a 43.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.28% of the stock is currently owned by corporate insiders.
Motorola Solutions Stock Up 0.8%
MSI stock opened at $491.24 on Wednesday. The stock has a market capitalization of $81.29 billion, a P/E ratio of 38.68, a P/E/G ratio of 2.91 and a beta of 0.86. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.10 and a quick ratio of 0.86. Motorola Solutions, Inc. has a 1-year low of $359.36 and a 1-year high of $499.00. The business has a fifty day moving average price of $466.62 and a 200-day moving average price of $440.18.
Motorola Solutions (NYSE:MSI – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $4.41 EPS for the quarter, beating the consensus estimate of $3.85 by $0.56. Motorola Solutions had a return on equity of 98.22% and a net margin of 17.44%. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the firm posted $3.57 earnings per share. Motorola Solutions’s revenue was up 13.3% compared to the same quarter last year. Equities analysts forecast that Motorola Solutions, Inc. will post 15.87 earnings per share for the current fiscal year.
Motorola Solutions Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 16th were given a $1.21 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $4.84 dividend on an annualized basis and a yield of 1.0%. Motorola Solutions’s payout ratio is 38.11%.
Analyst Ratings Changes
MSI has been the subject of several recent analyst reports. Truist Financial lifted their price target on Motorola Solutions from $525.00 to $545.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Weiss Ratings raised shares of Motorola Solutions from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. raised their price objective on shares of Motorola Solutions from $525.00 to $545.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Piper Sandler lifted their target price on shares of Motorola Solutions from $530.00 to $531.00 and gave the stock an “overweight” rating in a report on Tuesday, September 22nd. Finally, UBS Group upped their target price on shares of Motorola Solutions from $510.00 to $520.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $530.10.
Get Our Latest Stock Analysis on MSI
About Motorola Solutions
Motorola Solutions, Inc provides mission-critical communications, public safety, and enterprise security technologies. The company develops products and services that help governments, law enforcement agencies, emergency responders, commercial organizations, and other institutions coordinate operations, protect people, and manage critical events.
Its portfolio includes two-way radios and broadband communication systems, command center software, computer-aided dispatch and records management solutions, video security and analytics, access control, and cybersecurity services.
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