Westwood Holdings Group Inc. reduced its position in shares of Motorola Solutions Inc (NYSE:MSI) by 5.9% in the 1st quarter, Holdings Channel reports. The firm owned 909,252 shares of the communications equipment provider’s stock after selling 56,805 shares during the period. Westwood Holdings Group Inc.’s holdings in Motorola Solutions were worth $95,744,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in Motorola Solutions by 9.5% during the 4th quarter. Bank of New York Mellon Corp now owns 2,217,974 shares of the communications equipment provider’s stock valued at $200,372,000 after purchasing an additional 193,079 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Motorola Solutions during the 4th quarter valued at about $4,528,000. Arizona State Retirement System lifted its holdings in Motorola Solutions by 2.9% during the 4th quarter. Arizona State Retirement System now owns 113,002 shares of the communications equipment provider’s stock valued at $10,209,000 after purchasing an additional 3,160 shares during the last quarter. Twin Tree Management LP bought a new position in Motorola Solutions during the 4th quarter valued at about $420,000. Finally, Oppenheimer & Co. Inc. lifted its holdings in Motorola Solutions by 15.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 5,698 shares of the communications equipment provider’s stock valued at $515,000 after purchasing an additional 778 shares during the last quarter. 85.20% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman Gregory Q. Brown sold 185,000 shares of Motorola Solutions stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $109.08, for a total transaction of $20,179,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is owned by insiders.
Motorola Solutions (NYSE:MSI) last issued its quarterly earnings results on Thursday, May 3rd. The communications equipment provider reported $1.02 EPS for the quarter, topping the consensus estimate of $0.80 by $0.22. Motorola Solutions had a negative net margin of 1.75% and a negative return on equity of 73.43%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.37 billion. equities research analysts forecast that Motorola Solutions Inc will post 6.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 15th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, June 14th. Motorola Solutions’s dividend payout ratio is 40.00%.
A number of brokerages have weighed in on MSI. Credit Suisse Group began coverage on shares of Motorola Solutions in a research note on Wednesday, May 9th. They issued an “outperform” rating and a $129.00 target price for the company. Citigroup boosted their target price on shares of Motorola Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, March 9th. BMO Capital Markets boosted their target price on shares of Motorola Solutions from $116.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, May 4th. Jefferies Group reaffirmed a “buy” rating on shares of Motorola Solutions in a research note on Thursday, March 1st. Finally, Northcoast Research set a $120.00 target price on shares of Motorola Solutions and gave the stock a “buy” rating in a research note on Wednesday, April 11th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $119.25.
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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