Pitcairn Co. lowered its holdings in shares of Motorola Solutions Inc (NYSE:MSI) by 56.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,601 shares of the communications equipment provider’s stock after selling 4,698 shares during the quarter. Pitcairn Co.’s holdings in Motorola Solutions were worth $469,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. lifted its position in shares of Motorola Solutions by 13.1% in the second quarter. BlackRock Inc. now owns 17,760,318 shares of the communications equipment provider’s stock valued at $2,066,771,000 after acquiring an additional 2,060,565 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Motorola Solutions by 171.3% in the second quarter. Voya Investment Management LLC now owns 2,509,657 shares of the communications equipment provider’s stock valued at $292,049,000 after acquiring an additional 1,584,672 shares in the last quarter. Unigestion Holding SA purchased a new position in shares of Motorola Solutions in the second quarter valued at approximately $81,578,000. OppenheimerFunds Inc. lifted its position in shares of Motorola Solutions by 16.4% in the second quarter. OppenheimerFunds Inc. now owns 4,231,955 shares of the communications equipment provider’s stock valued at $492,472,000 after acquiring an additional 596,941 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Motorola Solutions by 32.6% in the second quarter. Wells Fargo & Company MN now owns 2,365,975 shares of the communications equipment provider’s stock valued at $275,329,000 after acquiring an additional 581,645 shares in the last quarter. Institutional investors own 86.55% of the company’s stock.
In related news, Chairman Gregory Q. Brown sold 65,873 shares of the stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $125.94, for a total value of $8,296,045.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark S. Hacker sold 102,628 shares of the stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $127.01, for a total value of $13,034,782.28. Following the completion of the sale, the executive vice president now directly owns 56,259 shares of the company’s stock, valued at approximately $7,145,455.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 773,640 shares of company stock valued at $97,912,955. Insiders own 2.20% of the company’s stock.
Motorola Solutions (NYSE:MSI) last posted its quarterly earnings results on Thursday, November 1st. The communications equipment provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.72 by $0.22. Motorola Solutions had a negative return on equity of 68.88% and a negative net margin of 0.44%. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter last year, the firm earned $1.53 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Research analysts forecast that Motorola Solutions Inc will post 6.57 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 14th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $2.08 annualized dividend and a dividend yield of 1.65%. Motorola Solutions’s dividend payout ratio is presently 40.00%.
Several equities analysts have recently weighed in on the company. Credit Suisse Group set a $129.00 target price on Motorola Solutions and gave the company a “buy” rating in a research report on Tuesday, July 17th. JPMorgan Chase & Co. decreased their target price on Motorola Solutions from $130.00 to $126.00 and set a “sell” rating on the stock in a research report on Friday, November 2nd. Deutsche Bank raised their target price on Motorola Solutions from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Monday. BMO Capital Markets raised their target price on Motorola Solutions from $134.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, November 2nd. Finally, Zacks Investment Research upgraded Motorola Solutions from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $134.54.
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Motorola Solutions Profile
Motorola Solutions, Inc, together with its subsidiaries, provides mission-critical communication infrastructure, devices, accessories, software, and services in the United States, the United Kingdom, and internationally. The company operates in two segments, Products and Services. The Products segment offers a portfolio of infrastructure, devices, accessories, and software for government, public safety and first-responder agencies, municipalities, and commercial and industrial customers.
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