Mediolanum International Funds Ltd has significantly increased its investment in Motorola Solutions, Inc. (NYSE: MSI) by acquiring an additional 13,734 shares during the second quarter of 2023. This move raised the firm’s total holdings in the communications equipment provider by 30.1%, bringing its total shares to 59,385, valued at approximately $24,862,000 at the quarter’s end.
This development comes as several large investors adjust their positions in Motorola Solutions. For example, Signature Resources Capital Management LLC entered the market with a new investment worth around $25,000 in the same quarter. The Saudi Central Bank also acquired a new stake valued at approximately $29,000 in the first quarter of 2023. Whipplewood Advisors LLC saw a notable increase in its stake, raising it by 289.5% to now own 74 shares, valued at $31,000 after purchasing an additional 55 shares.
Furthermore, Rossby Financial LLC increased its holdings by 148.6%, now owning 87 shares worth $37,000 after acquiring an additional 52 shares in the last quarter. Meeder Asset Management Inc. also expanded its stake by 47.1% in the first quarter, now holding 103 shares valued at $45,000. Currently, institutional investors and hedge funds own 84.17% of Motorola Solutions’ stock.
Insider Transactions Highlighted
In related news, CEO Gregory Q. Brown sold 50,000 shares of the company’s stock on September 12, 2023, at an average price of $483.50, totaling $24,175,000. Following this transaction, Brown’s ownership decreased to 46,936 shares, valued at $22,693,556, marking a 51.58% reduction in his stake. The sale was detailed in a document filed with the SEC.
Additionally, Senior Vice President James A. Niewiara sold 1,700 shares on September 11, 2023, at an average price of $485.43, amounting to $825,231. Niewiara now directly owns 14,542 shares valued at $7,059,123.06, reflecting a 10.47% decrease in his holdings. In total, insiders sold 110,614 shares valued at $53,085,917 over the past three months, with insiders holding 1.44% of the company’s stock.
Stock Performance and Future Outlook
Motorola Solutions opened at $366.66 on Friday, with a market capitalization of $61.07 billion. The company boasts a price-to-earnings ratio of 29.52, a PEG ratio of 3.46, and a beta of 0.96. Financial ratios indicate a current ratio of 1.73, a quick ratio of 1.54, and a relatively high debt-to-equity ratio of 3.86. The stock has fluctuated between a 12-month low of $365.75 and a 12-month high of $503.62.
On October 31, 2023, Motorola Solutions reported earnings of $4.06 EPS for the quarter, surpassing analysts’ expectations of $3.85 EPS by $0.21. The company generated revenue of $3.01 billion, also exceeding predictions of $2.99 billion. This represents a 7.8% increase in revenue compared to the previous year, when the company reported $3.74 EPS. Analysts project that Motorola Solutions will achieve 13.55 EPS for the current fiscal year.
In addition to these financial highlights, the company announced a quarterly dividend of $1.21 per share, payable on January 15, 2024, to shareholders of record as of December 15, 2023. This represents a significant increase from the previous quarterly dividend of $0.01, translating to an annualized dividend of $4.84 with a yield of 1.3%. The company’s dividend payout ratio currently stands at 34.99%.
Motorola Solutions continues to be a key player in public safety and enterprise security solutions across various markets, including the United States, United Kingdom, and Canada, enhancing its portfolio through innovative products and services.
