Citigroup Inc. increased its holdings in Motorola Solutions, Inc. (NYSE: MSI) by 20.1% during the second quarter, according to its latest filing with the Securities and Exchange Commission (SEC). Citigroup now holds 285,964 shares of the communications technology provider, having acquired an additional 47,891 shares. This brings the total value of its investment to $120,237,000, representing approximately 0.17% of Motorola Solutions' stock.
Other institutional investors have also made notable adjustments to their positions in the company. Revolve Wealth Partners LLC added a new stake worth around $208,000 during the fourth quarter. Sigma Planning Corp. similarly purchased a fresh stake valued at about $210,000 in the first quarter. Private Advisor Group LLC grew its holdings by 3.1%, acquiring 129 additional shares to bring its total to 4,280 shares worth $1,874,000. OneAscent Financial Services LLC increased its stake by an impressive 101.3%, now holding 1,810 shares valued at $792,000. Meanwhile, J.W. Cole Advisors Inc. raised its position by 17.6%, taking ownership of 3,487 shares valued at approximately $1.5 million. Collectively, institutional investors and hedge funds own 84.17% of Motorola Solutions' stock.
In other news, several high-ranking Motorola Solutions executives have recently sold shares. Senior Vice President James A. Niewiara sold 1,700 shares on September 11th, worth $825,231 at an average price of $485.43. After the sale, he retained 14,542 shares, valued at around $7.06 million, reflecting a 10.47% decrease in his ownership. Meanwhile, COO John P. Molloy sold 37,514 shares on August 21st for $17.35 million at an average price of $462.38. Post-sale, Molloy owns 59,328 shares valued at $27.43 million, marking a 38.74% decrease in his position. Over the last quarter, insiders sold 148,128 shares worth $70.43 million. Despite this, insiders still hold 1.44% of the company’s stock.
On Wall Street, analysts have shown strong confidence in the company’s future. UBS Group raised its price target from $490.00 to $510.00, reiterating a “buy” rating. Barclays lowered its target from $509.00 to $495.00, maintaining an “overweight” rating. Evercore ISI set a higher price target of $525.00 with an “outperform” rating, while Piper Sandler adjusted its neutral rating to $465.00, down from $495.00. Weiss Ratings reaffirmed a “buy” rating. Currently, Motorola Solutions holds a consensus “Moderate Buy” rating from analysts, with an average target price of $506.43.
Motorola Solutions recently reported earnings for the third quarter, with earnings per share (EPS) of $4.06, surpassing analysts' expectations of $3.85 by 21 cents. The company’s revenue for the quarter reached $3.01 billion, a 7.8% increase from the same period last year, exceeding analyst estimates of $2.99 billion. The company also declared a quarterly dividend of $0.0109 per share, paid on October 15th. Its payout ratio currently stands at 34.99%.
Motorola Solutions continues to thrive as a leader in public safety and enterprise security solutions, with operations in the U.S., the UK, Canada, and internationally. The company divides its business into two segments: Products and Systems Integration, and Software and Services. Its products range from infrastructure and communication devices to video security systems, all of which are integrated into solutions for government, public safety, and commercial clients managing private networks and mobile workforces.