Prudential PLC Trims Position in Motorola Solutions, Inc. (MSI)
Prudential PLC cut its position in shares of Motorola Solutions, Inc. (NYSE:MSI) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 208,741 shares of the communications equipment provider’s stock after selling 8,454 shares during the quarter. Prudential PLC owned 0.13% of Motorola Solutions worth $18,106,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of MSI. Lazard Asset Management LLC raised its holdings in Motorola Solutions by 54.6% during the first quarter. Lazard Asset Management LLC now owns 8,988,989 shares of the communications equipment provider’s stock worth $775,030,000 after purchasing an additional 3,174,388 shares during the last quarter. Voya Investment Management LLC raised its holdings in Motorola Solutions by 249.4% during the second quarter. Voya Investment Management LLC now owns 1,338,597 shares of the communications equipment provider’s stock worth $116,110,000 after purchasing an additional 955,463 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Motorola Solutions by 51.5% during the first quarter. Renaissance Technologies LLC now owns 1,797,415 shares of the communications equipment provider’s stock worth $154,973,000 after purchasing an additional 610,650 shares during the last quarter. Vanguard Group Inc. raised its holdings in Motorola Solutions by 2.8% during the first quarter. Vanguard Group Inc. now owns 16,036,418 shares of the communications equipment provider’s stock worth $1,382,661,000 after purchasing an additional 444,109 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Motorola Solutions by 209.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 591,919 shares of the communications equipment provider’s stock worth $51,036,000 after purchasing an additional 400,519 shares during the last quarter. 87.68% of the stock is owned by hedge funds and other institutional investors.
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Shares of Motorola Solutions, Inc. (NYSE:MSI) traded up 3.22% on Friday, hitting $88.77. The company’s stock had a trading volume of 379,712 shares. Motorola Solutions, Inc. has a 52 week low of $71.24 and a 52 week high of $93.75. The stock has a market capitalization of $14.44 billion, a P/E ratio of 23.41 and a beta of 0.31. The stock’s 50 day moving average price is $85.97 and its 200 day moving average price is $86.05.
Motorola Solutions (NYSE:MSI) last released its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. Motorola Solutions had a net margin of 10.38% and a negative return on equity of 93.44%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Motorola Solutions, Inc. will post $5.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, September 14th. Motorola Solutions’s dividend payout ratio (DPR) is 49.60%.
In other Motorola Solutions news, EVP Eduardo F. Conrado sold 6,998 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $89.13, for a total transaction of $623,731.74. Following the completion of the transaction, the executive vice president now owns 22,858 shares in the company, valued at $2,037,333.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bruce W. Brda sold 25,299 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $89.11, for a total transaction of $2,254,393.89. Following the transaction, the executive vice president now owns 23,829 shares of the company’s stock, valued at approximately $2,123,402.19. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on MSI. Cleveland Research raised Motorola Solutions from a “neutral” rating to a “buy” rating in a report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and set a $105.00 price objective on shares of Motorola Solutions in a report on Friday. Zacks Investment Research raised Motorola Solutions from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Wednesday, September 20th. Finally, ValuEngine downgraded Motorola Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Motorola Solutions presently has a consensus rating of “Buy” and an average target price of $94.08.
About Motorola Solutions
Motorola Solutions, Inc is a provider of communication infrastructure, devices, accessories, software and services. The Company operates through two segments: Products and Services. The Company’s Products segment offers a portfolio of infrastructure, devices, accessories and software. The Products segment has two product lines: Devices and Systems.
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