Chicago Capital LLC lessened its stake in shares of Motorola Solutions, Inc. (NYSE:MSI – Free Report) by 8.6% during the 2nd quarter, Holdings Channel reports. The firm owned 2,123 shares of the communications equipment provider’s stock after selling 200 shares during the quarter. Chicago Capital LLC’s holdings in Motorola Solutions were worth $893,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Deseret Mutual Benefit Administrators lifted its stake in shares of Motorola Solutions by 5.4% during the first quarter. Deseret Mutual Benefit Administrators now owns 471 shares of the communications equipment provider’s stock worth $206,000 after buying an additional 24 shares during the period. Wesbanco Bank Inc. lifted its position in Motorola Solutions by 2.0% during the 1st quarter. Wesbanco Bank Inc. now owns 1,315 shares of the communications equipment provider’s stock worth $576,000 after acquiring an additional 26 shares during the period. Trust Point Inc. grew its stake in Motorola Solutions by 3.9% during the 2nd quarter. Trust Point Inc. now owns 692 shares of the communications equipment provider’s stock valued at $291,000 after purchasing an additional 26 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of Motorola Solutions by 17.1% in the first quarter. Hemington Wealth Management now owns 185 shares of the communications equipment provider’s stock valued at $80,000 after purchasing an additional 27 shares during the period. Finally, D.A. Davidson & CO. raised its stake in shares of Motorola Solutions by 2.7% in the first quarter. D.A. Davidson & CO. now owns 1,079 shares of the communications equipment provider’s stock worth $473,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 84.17% of the company’s stock.
Motorola Solutions Stock Performance
Shares of NYSE:MSI opened at $457.70 on Wednesday. The business’s 50 day moving average price is $460.63 and its 200-day moving average price is $433.60. Motorola Solutions, Inc. has a 1 year low of $388.90 and a 1 year high of $507.82. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.73 and a quick ratio of 1.54. The firm has a market capitalization of $76.25 billion, a PE ratio of 36.85, a P/E/G ratio of 3.63 and a beta of 0.96.
Motorola Solutions Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.0109 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. Motorola Solutions’s dividend payout ratio is presently 35.10%.
Insider Buying and Selling at Motorola Solutions
In other news, COO John P. Molloy sold 37,514 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $462.38, for a total transaction of $17,345,723.32. Following the transaction, the chief operating officer directly owned 59,328 shares in the company, valued at $27,432,080.64. The trade was a 38.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James A. Niewiara sold 1,700 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $485.43, for a total value of $825,231.00. Following the completion of the sale, the senior vice president directly owned 14,542 shares of the company’s stock, valued at approximately $7,059,123.06. This represents a 10.47% 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 worth $116,848,278 in the last quarter. Insiders own 1.44% of the company’s stock.
Wall Street Analysts Forecast Growth
MSI has been the topic of a number of recent research reports. UBS Group upped their target price on Motorola Solutions from $490.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Wolfe Research initiated coverage on shares of Motorola Solutions in a research note on Monday, July 7th. They set a “peer perform” rating for the company. Barclays dropped their price objective on shares of Motorola Solutions from $511.00 to $509.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Piper Sandler started coverage on shares of Motorola Solutions in a report on Tuesday, September 23rd. They set a “neutral” rating and a $495.00 target price for the company. Finally, Evercore ISI boosted their target price on shares of Motorola Solutions from $500.00 to $525.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $513.78.
Read Our Latest Stock Report on MSI
Motorola Solutions Profile
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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