Motorola Solutions (MSI) Raised to Buy at Zacks Investment Research
Motorola Solutions (NYSE:MSI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $150.00 target price on the communications equipment provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.60% from the company’s current price.
According to Zacks, “Motorola remains poised to gain from robust organic growth, disciplined capital deployment and a favorable global macroeconomic environment. It expects to record strong demand across land mobile radio products, services and software, while the Avigilon acquisition is likely to continue to outperform expectations. The company is expanding its software offerings to provide solutions across various segments of the public safety workflow. In an effort to further expand its public safety measures, the company has launched new broadband service, high power mobile radio and mobile app solutions, dedicated to public security. Management has further increased its guidance for 2018 owing to solid third-quarter results. The stock has outperformed the industry in the past year on average. However, headwinds in currency translation remain a concern as the company generates significant revenues outside the United States.”
Other research analysts also recently issued research reports about the stock. Jefferies Financial Group lifted their price objective on shares of Motorola Solutions from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 28th. Citigroup lifted their price objective on shares of Motorola Solutions from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, September 25th. Argus raised their target price on shares of Motorola Solutions to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Raymond James set a $136.00 target price on shares of Motorola Solutions and gave the stock a “buy” rating in a research note on Monday. Finally, Credit Suisse Group set a $137.00 target price on shares of Motorola Solutions and gave the stock a “hold” rating in a research note on Friday, September 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $128.68.
Motorola Solutions (NYSE:MSI) last announced its quarterly earnings data on Thursday, November 1st. The communications equipment provider reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.22. Motorola Solutions had a negative net margin of 0.44% and a negative return on equity of 68.88%. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted $1.53 EPS. The company’s quarterly revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts expect that Motorola Solutions will post 6.69 earnings per share for the current year.
In other Motorola Solutions news, SVP Rajan Naik sold 14,606 shares of Motorola Solutions stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $127.00, for a total value of $1,854,962.00. Following the completion of the sale, the senior vice president now owns 10,544 shares in the company, valued at approximately $1,339,088. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark S. Hacker sold 160,417 shares of Motorola Solutions stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $124.06, for a total transaction of $19,901,333.02. Following the completion of the sale, the executive vice president now owns 166,464 shares of the company’s stock, valued at approximately $20,651,523.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 849,902 shares of company stock valued at $107,111,734. 2.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of MSI. Piedmont Investment Advisors LLC acquired a new stake in Motorola Solutions in the 2nd quarter worth about $220,000. Commonwealth Equity Services LLC raised its stake in Motorola Solutions by 5.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,366 shares of the communications equipment provider’s stock worth $1,905,000 after purchasing an additional 797 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in Motorola Solutions by 17,920.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 901 shares of the communications equipment provider’s stock worth $105,000 after purchasing an additional 896 shares in the last quarter. Comerica Bank raised its stake in Motorola Solutions by 28.2% in the 2nd quarter. Comerica Bank now owns 61,354 shares of the communications equipment provider’s stock worth $7,513,000 after purchasing an additional 13,492 shares in the last quarter. Finally, Smith Asset Management Group LP raised its stake in Motorola Solutions by 4.0% in the 2nd quarter. Smith Asset Management Group LP now owns 175,259 shares of the communications equipment provider’s stock worth $20,395,000 after purchasing an additional 6,680 shares in the last quarter. Institutional investors and hedge funds own 85.77% of the company’s stock.
About Motorola Solutions
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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