Norges Bank, a significant institutional investor, took a new position in Motorola Solutions, Inc. (NYSE: MSI) during the second quarter, as disclosed in its most recent filing with the SEC. The Bank acquired 2,074,650 shares of the communications equipment provider, worth approximately $872 million. By the end of the quarter, Norges Bank held a 1.25% stake in the company.
Alongside Norges Bank, several other institutional investors and hedge funds adjusted their holdings in Motorola Solutions. Northwestern Mutual Wealth Management increased its stake by 23.3%, purchasing an additional 1,947 shares for a total of 10,296 shares, now valued at around $4.33 million. Groupama Asset Management raised its holdings by 7.6%, acquiring 30,322 more shares, bringing its total to 427,433 shares valued at $178.95 million. Similarly, the State Board of Administration of Florida Retirement System increased its stake by 1.2%, owning now 152,628 shares worth $64.17 million after adding 1,830 shares. Other notable changes include a 111.8% increase in shares owned by Johnson Financial Group Inc., which now holds 540 shares valued at $228,000, and Bell Asset Management, which purchased shares worth $6.3 million.
As of now, hedge funds and institutional investors collectively own 84.17% of Motorola Solutions' stock.
On the trading front, shares of Motorola Solutions opened at $369.68 on Friday. The stock’s market capitalization stands at $61.57 billion, with a P/E ratio of 29.76, a PEG ratio of 3.46, and a beta of 0.96. Motorola Solutions' shares have fluctuated between a 1-year low of $365.40 and a 1-year high of $503.62. The company also holds a debt-to-equity ratio of 3.86, a quick ratio of 1.54, and a current ratio of 1.73.
Motorola Solutions recently reported its quarterly earnings, surpassing analysts' expectations. The company reported earnings per share (EPS) of $4.06 for the quarter, beating consensus estimates of $3.85 by $0.21. The company's revenue for the quarter was $3.01 billion, higher than analysts' forecast of $2.99 billion, marking a 7.8% increase year-over-year. The net margin was 19.08%, with a return on equity (ROE) of 134.3%.
Looking ahead, Motorola Solutions has announced a dividend increase. The quarterly dividend of $1.21 per share will be paid on January 15th, 2025, marking a positive shift from the previous dividend of $0.01. The ex-dividend date is set for December 15th, 2024, and investors can expect an annualized dividend yield of 1.3%.
Insider trading activity has seen significant sales. Senior Vice President James A. Niewiara sold 1,700 shares, valued at approximately $825,231. Similarly, CEO Gregory Q. Brown sold 50,000 shares worth $24.18 million. These sales reflect a 51.58% reduction in Brown’s holdings.
The stock has garnered attention from various analysts. Barclays lowered its price target on the stock from $509 to $495 while maintaining an "overweight" rating. Piper Sandler reaffirmed a "neutral" rating with a price target of $465, while Evercore ISI raised its price target from $500 to $525, giving the stock an "outperform" rating. Analysts from UBS Group have also raised their target price from $490 to $510.
Motorola Solutions remains a key player in public safety and enterprise security solutions globally, providing infrastructure, devices, and video security solutions for commercial, government, and public safety clients. The company's focus on integrating systems and applications positions it as a significant player in the communications and security sectors.