PNC Financial Services Group Inc. increased its position in Motorola Solutions, Inc. (NYSE:MSI – Free Report) by 5.0% in the second quarter, HoldingsChannel reports. The firm owned 428,057 shares of the communications equipment provider’s stock after acquiring an additional 20,572 shares during the period. PNC Financial Services Group Inc.’s holdings in Motorola Solutions were worth $179,981,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC purchased a new stake in shares of Motorola Solutions in the second quarter worth approximately $25,000. Saudi Central Bank acquired a new position in Motorola Solutions in the 1st quarter valued at approximately $29,000. Whipplewood Advisors LLC lifted its position in Motorola Solutions by 289.5% in the 2nd quarter. Whipplewood Advisors LLC now owns 74 shares of the communications equipment provider’s stock worth $31,000 after buying an additional 55 shares in the last quarter. Rossby Financial LCC boosted its stake in shares of Motorola Solutions by 148.6% during the 2nd quarter. Rossby Financial LCC now owns 87 shares of the communications equipment provider’s stock valued at $37,000 after buying an additional 52 shares during the period. Finally, Meeder Asset Management Inc. boosted its stake in shares of Motorola Solutions by 47.1% during the 1st quarter. Meeder Asset Management Inc. now owns 103 shares of the communications equipment provider’s stock valued at $45,000 after buying an additional 33 shares during the period. Hedge funds and other institutional investors own 84.17% of the company’s stock.
Motorola Solutions Stock Down 0.0%
Shares of Motorola Solutions stock opened at $391.92 on Thursday. Motorola Solutions, Inc. has a 12-month low of $387.77 and a 12-month high of $503.62. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 3.86. The stock has a 50 day moving average price of $447.70 and a two-hundred day moving average price of $435.88. The stock has a market capitalization of $65.28 billion, a P/E ratio of 31.56, a PEG ratio of 3.46 and a beta of 0.97.
Motorola Solutions Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were given a $0.0109 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Monday, September 15th. Motorola Solutions’s dividend payout ratio (DPR) is 34.99%.
Insider Buying and Selling at Motorola Solutions
In related news, COO John P. Molloy sold 37,514 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $462.38, for a total value of $17,345,723.32. Following the sale, the chief operating officer owned 59,328 shares of the company’s stock, valued at $27,432,080.64. The trade was a 38.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Gregory Q. Brown sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $483.50, for a total value of $24,175,000.00. Following the transaction, the chief executive officer owned 46,936 shares of the company’s stock, valued at $22,693,556. This trade represents a 51.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 165,728 shares of company stock worth $78,523,945 over the last three months. 1.44% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Motorola Solutions from $490.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $465.00 target price (down from $495.00) on shares of Motorola Solutions in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Motorola Solutions in a research note on Wednesday, October 8th. Evercore ISI lifted their price target on Motorola Solutions from $500.00 to $525.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Finally, Barclays lowered their price target on Motorola Solutions from $509.00 to $495.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $506.43.
View Our Latest Analysis on Motorola Solutions
Motorola Solutions Profile
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.
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