State Street Corp boosted its position in Motorola Solutions, Inc. (NYSE:MSI) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,598,871 shares of the communications equipment provider’s stock after buying an additional 114,685 shares during the period. State Street Corp owned about 4.65% of Motorola Solutions worth $655,179,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in Motorola Solutions during the fourth quarter worth approximately $8,131,000. Bessemer Group Inc. purchased a new stake in Motorola Solutions during the fourth quarter worth approximately $175,000. Comerica Bank increased its stake in Motorola Solutions by 17.7% in the fourth quarter. Comerica Bank now owns 50,039 shares of the communications equipment provider’s stock worth $4,117,000 after buying an additional 7,515 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Motorola Solutions by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 380,169 shares of the communications equipment provider’s stock worth $31,513,000 after buying an additional 8,940 shares during the last quarter. Finally, FMR LLC increased its stake in Motorola Solutions by 619.0% in the fourth quarter. FMR LLC now owns 1,033,052 shares of the communications equipment provider’s stock worth $85,630,000 after buying an additional 889,377 shares during the last quarter. Institutional investors own 87.69% of the company’s stock.
Shares of Motorola Solutions, Inc. (NYSE MSI) traded up 1.57% during midday trading on Friday, reaching $87.31. The company’s stock had a trading volume of 617,394 shares. Motorola Solutions, Inc. has a 52 week low of $64.05 and a 52 week high of $89.15. The stock has a market capitalization of $14.27 billion, a PE ratio of 24.14 and a beta of 0.31. The stock has a 50-day moving average price of $85.04 and a 200 day moving average price of $83.28.
Motorola Solutions (NYSE:MSI) last announced its quarterly earnings data on Thursday, May 4th. The communications equipment provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.14. Motorola Solutions had a negative return on equity of 102.32% and a net margin of 10.10%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $0.52 earnings per share. Motorola Solutions’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities analysts forecast that Motorola Solutions, Inc. will post $5.20 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be issued a dividend of $0.47 per share. The ex-dividend date is Tuesday, June 13th. This represents a $1.88 annualized dividend and a dividend yield of 2.15%. Motorola Solutions’s dividend payout ratio is 51.93%.
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MSI has been the topic of a number of research analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $95.00 target price on shares of Motorola Solutions in a research report on Tuesday, March 21st. Jefferies Group LLC upgraded Motorola Solutions from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $100.00 in a research report on Tuesday, March 21st. Citigroup Inc. reissued a “buy” rating and issued a $102.00 price target (up from $93.00) on shares of Motorola Solutions in a report on Friday, May 5th. Cowen and Company cut their price target on Motorola Solutions from $77.00 to $75.00 and set a “market perform” rating for the company in a report on Friday, May 5th. Finally, Credit Suisse Group boosted their price target on Motorola Solutions from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $90.15.
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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