Envestnet Asset Management Inc. increased its position in Motorola Solutions, Inc. (NYSE:MSI – Free Report) by 2.8% in the second quarter, HoldingsChannel.com reports. The fund owned 594,216 shares of the communications equipment provider’s stock after buying an additional 16,408 shares during the period. Envestnet Asset Management Inc.’s holdings in Motorola Solutions were worth $249,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MSI. Signature Resources Capital Management LLC purchased a new position in Motorola Solutions in the 2nd quarter worth $25,000. Saudi Central Bank purchased a new position in Motorola Solutions in the 1st quarter worth $29,000. Whipplewood Advisors LLC raised its stake in Motorola Solutions by 289.5% in the 2nd quarter. Whipplewood Advisors LLC now owns 74 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 55 shares during the last quarter. Fort Vancouver Investment Management LLC purchased a new position in Motorola Solutions in the 1st quarter worth $37,000. Finally, Meeder Asset Management Inc. raised its stake in Motorola Solutions by 47.1% in the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the communications equipment provider’s stock worth $45,000 after acquiring an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 84.17% of the company’s stock.
Motorola Solutions Price Performance
NYSE:MSI opened at $443.95 on Tuesday. Motorola Solutions, Inc. has a 52 week low of $388.90 and a 52 week high of $507.82. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 3.86. The stock has a market capitalization of $73.96 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 3.51 and a beta of 0.97. The stock’s 50-day moving average price is $462.66 and its 200-day moving average price is $437.44.
Motorola Solutions Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were issued a $0.0109 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Monday, September 15th. Motorola Solutions’s payout ratio is presently 35.10%.
Insider Transactions at Motorola Solutions
In related news, CEO Gregory Q. Brown sold 50,000 shares of Motorola Solutions 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 sale, the chief executive officer directly owned 46,936 shares in the company, valued at approximately $22,693,556. The trade was a 51.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP James A. Niewiara sold 1,700 shares of Motorola Solutions stock in a transaction dated Thursday, September 11th. The stock was 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 owned 14,542 shares in the company, valued at approximately $7,059,123.06. The trade was a 10.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 248,493 shares of company stock valued at $116,848,278. 1.44% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on MSI shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Motorola Solutions in a research report on Wednesday, October 8th. Evercore ISI increased their price target on Motorola Solutions from $500.00 to $525.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Barclays cut their price target on Motorola Solutions from $511.00 to $509.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Wolfe Research started coverage on Motorola Solutions in a research report on Monday, July 7th. They set a “peer perform” rating on the stock. Finally, Piper Sandler started coverage on Motorola Solutions in a research report on Tuesday, September 23rd. They set a “neutral” rating and a $495.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Motorola Solutions has an average rating of “Moderate Buy” and a consensus price target of $513.00.
View 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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