Alberta Investment Management Corp significantly reduced its stake in Motorola Solutions, Inc. (NYSE: MSI) by 65.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. After selling 5,600 shares, the firm now holds 2,900 shares, valued at approximately $1.22 million.
Other institutional investors and hedge funds have also adjusted their positions. Signature Resources Capital Management LLC, for example, acquired a new stake worth about $25,000 in Motorola Solutions during the same period. Meanwhile, Saudi Central Bank bought shares valued at $29,000 in the first quarter. Whipplewood Advisors LLC notably increased its holding by an impressive 289.5%, acquiring an additional 55 shares to bring its total to 74 shares, worth $31,000. Similarly, Rossby Financial LLC raised its position by 148.6%, while Cape Investment Advisory Inc. saw a massive 3,300% increase in its holdings.
As of now, institutional investors and hedge funds collectively own 84.17% of Motorola Solutions' shares.
In terms of stock performance, several brokerages have made updates. UBS Group raised its target price for Motorola Solutions from $490 to $510 and issued a "buy" rating. On the other hand, Piper Sandler lowered its price target from $495 to $465, maintaining a "neutral" rating. Barclays, too, adjusted its target price downwards from $509 to $495 but kept an "overweight" rating. Analysts have mixed opinions, with seven recommending a "buy" and three opting for a "hold." The consensus target price stands at $506.43.
In related corporate news, SVP Rajan Naik sold 8,014 shares of Motorola Solutions on September 3rd for $3.8 million. CEO Gregory Q. Brown followed suit, offloading 50,000 shares on September 12th, amounting to $24.17 million. Over the last three months, insiders have sold a total of 148,128 shares, worth approximately $70.4 million.
As of today, shares of Motorola Solutions are trading at $377.11, with a market cap of $62.81 billion. The company's PE ratio stands at 30.36, with a price-to-earnings-growth ratio of 3.46. Motorola Solutions has a debt-to-equity ratio of 3.86, a quick ratio of 1.54, and a current ratio of 1.73. Its one-year price range is between $374.53 and $503.62, with a 50-day moving average of $441.77.
For the latest quarter, the company reported earnings of $4.06 per share, exceeding analysts' expectations of $3.85. Its revenue for the quarter was $3.01 billion, surpassing the expected $2.99 billion. Year-over-year, revenue rose 7.8%. Analysts forecast Motorola Solutions will report earnings of $13.55 per share for the fiscal year.
Additionally, the company recently paid a quarterly dividend of $0.0109 per share, which was distributed on October 15th. The ex-dividend date was September 15th, and the annualized dividend yield is 0.0%. Motorola Solutions' payout ratio currently stands at 34.99%.
Motorola Solutions, a global leader in public safety and enterprise security, offers products and services across various regions, including the U.S., U.K., and Canada. Its product portfolio includes communications infrastructure, devices, and video security systems, with integration services aimed at government, public safety, and commercial clients who manage private communications networks.