Sumitomo Mitsui Trust Group Inc. grew its position in shares of Motorola Solutions, Inc. (NYSE:MSI – Free Report) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 414,774 shares of the communications equipment provider’s stock after acquiring an additional 2,716 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Motorola Solutions were worth $174,396,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. West Michigan Advisors LLC lifted its holdings in Motorola Solutions by 0.9% in the second quarter. West Michigan Advisors LLC now owns 7,796 shares of the communications equipment provider’s stock valued at $3,287,000 after acquiring an additional 71 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Motorola Solutions by 25.7% in the second quarter. Caitong International Asset Management Co. Ltd now owns 347 shares of the communications equipment provider’s stock worth $146,000 after purchasing an additional 71 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its position in Motorola Solutions by 25.4% in the second quarter. Lazard Freres Gestion S.A.S. now owns 287,672 shares of the communications equipment provider’s stock worth $120,954,000 after purchasing an additional 58,247 shares during the last quarter. R Squared Ltd boosted its position in Motorola Solutions by 256.2% in the second quarter. R Squared Ltd now owns 2,814 shares of the communications equipment provider’s stock worth $1,183,000 after purchasing an additional 2,024 shares during the last quarter. Finally, Cardinal Point Capital Management ULC grew its position in Motorola Solutions by 4.9% during the second quarter. Cardinal Point Capital Management ULC now owns 898 shares of the communications equipment provider’s stock valued at $379,000 after buying an additional 42 shares during the period. 84.17% of the stock is owned by institutional investors.
Motorola Solutions Stock Performance
MSI opened at $439.36 on Friday. The firm has a market cap of $73.20 billion, a P/E ratio of 35.38, a PEG ratio of 3.56 and a beta of 0.97. Motorola Solutions, Inc. has a 1-year low of $388.90 and a 1-year high of $507.82. The company has a 50 day simple moving average of $463.01 and a two-hundred day simple moving average of $436.81. The company has a debt-to-equity ratio of 3.86, a current ratio of 1.73 and a quick ratio of 1.54.
Motorola Solutions Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th were given a $0.0109 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Monday, September 15th. Motorola Solutions’s dividend payout ratio is presently 35.10%.
Insider Activity
In related news, SVP Rajan Naik sold 8,014 shares of the company’s stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $474.45, for a total transaction of $3,802,242.30. Following the completion of the transaction, the senior vice president owned 10,244 shares in the company, valued at approximately $4,860,265.80. This represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory Q. Brown sold 82,765 shares of the company’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $463.05, for a total transaction of $38,324,333.25. Following the transaction, the chief executive officer owned 57,836 shares of the company’s stock, valued at approximately $26,780,959.80. This represents a 58.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 248,493 shares of company stock valued at $116,848,278. Company insiders own 1.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Motorola Solutions in a research report on Tuesday, September 23rd. They set a “neutral” rating and a $495.00 target price for the company. Wolfe Research assumed coverage on shares of Motorola Solutions in a research report on Monday, July 7th. They set a “peer perform” rating for the company. UBS Group boosted their target price on shares of Motorola Solutions from $490.00 to $510.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Weiss Ratings restated a “buy (b)” rating on shares of Motorola Solutions in a research report on Wednesday, October 8th. 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 research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $513.00.
Check Out Our Latest Stock Analysis 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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