Investment Management Corp of Ontario Sells 60,000 Shares of Motorola Solutions, Inc. (NYSE:MSI)
Investment Management Corp of Ontario lowered its stake in shares of Motorola Solutions, Inc. (NYSE:MSI – Free Report) by 40.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,000 shares of the communications equipment provider’s stock after selling 60,000 shares during the quarter. Motorola Solutions comprises 1.1% of Investment Management Corp of Ontario’s holdings, making the stock its 14th largest holding. Investment Management Corp of Ontario owned 0.05% of Motorola Solutions worth $26,395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in MSI. Tucker Asset Management LLC acquired a new stake in Motorola Solutions in the first quarter worth about $27,000. Albion Financial Group UT boosted its holdings in Motorola Solutions by 3,633.3% in the second quarter. Albion Financial Group UT now owns 112 shares of the communications equipment provider’s stock worth $33,000 after acquiring an additional 109 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in Motorola Solutions in the first quarter worth about $35,000. Tortoise Investment Management LLC boosted its holdings in Motorola Solutions by 1,140.0% in the second quarter. Tortoise Investment Management LLC now owns 124 shares of the communications equipment provider’s stock worth $36,000 after acquiring an additional 114 shares in the last quarter. Finally, Steward Financial Group LLC acquired a new stake in Motorola Solutions in the second quarter worth about $39,000. Institutional investors own 82.37% of the company’s stock.
Analysts Set New Price Targets
MSI has been the subject of several recent analyst reports. StockNews.com downgraded Motorola Solutions from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. Bank of America began coverage on Motorola Solutions in a research note on Monday, October 9th. They issued a “buy” rating and a $330.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $312.57.
Get Our Latest Stock Report on MSI
Insider Activity at Motorola Solutions
In related news, CFO Jason J. Winkler sold 5,656 shares of Motorola Solutions stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $305.29, for a total transaction of $1,726,720.24. Following the completion of the transaction, the chief financial officer now directly owns 6,732 shares in the company, valued at $2,055,212.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory Q. Brown sold 65,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $305.27, for a total value of $19,842,550.00. Following the completion of the sale, the chief executive officer now directly owns 62,105 shares in the company, valued at $18,958,793.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason J. Winkler sold 5,656 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $305.29, for a total value of $1,726,720.24. Following the completion of the sale, the chief financial officer now owns 6,732 shares of the company’s stock, valued at $2,055,212.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,506 shares of company stock worth $23,359,370. 1.50% of the stock is owned by corporate insiders.
Motorola Solutions Stock Performance
Shares of NYSE:MSI traded up $1.34 during trading on Monday, hitting $325.86. The stock had a trading volume of 89,279 shares, compared to its average volume of 715,978. Motorola Solutions, Inc. has a 12-month low of $251.00 and a 12-month high of $327.70. The stock has a market capitalization of $54.09 billion, a price-to-earnings ratio of 32.81, a price-to-earnings-growth ratio of 3.06 and a beta of 0.94. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of 12.51. The stock has a 50-day simple moving average of $299.52 and a two-hundred day simple moving average of $289.53.
Motorola Solutions (NYSE:MSI – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The communications equipment provider reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.18. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Motorola Solutions had a return on equity of 668.00% and a net margin of 17.30%. Motorola Solutions’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $2.79 earnings per share. On average, equities research analysts expect that Motorola Solutions, Inc. will post 10.65 earnings per share for the current fiscal year.
Motorola Solutions Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be given a dividend of $0.98 per share. This is a boost from Motorola Solutions’s previous quarterly dividend of $0.88. This represents a $3.92 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, December 14th. Motorola Solutions’s dividend payout ratio (DPR) is currently 39.64%.
Motorola Solutions Profile (Free Report)
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.
See Also
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