Assenagon Asset Management S.A. significantly increased its stake in Motorola Solutions (NYSE: MSI) by 466.2% in the third quarter, according to recent filings with the SEC. The institutional investor now holds 295,812 shares after acquiring an additional 243,563 shares during the period, bringing its total holding to $135.27 million—representing about 0.18% of the company.
Other institutional investors and hedge funds also adjusted their positions in Motorola Solutions. Signature Resources Capital Management purchased shares worth $25,000 during the second quarter, while Saudi Central Bank acquired a new stake valued at $29,000 in the first quarter. Additionally, Whipplewood Advisors LLC increased its position by 289.5% during the second quarter, now holding 74 shares valued at $31,000, and Rossby Financial LLC raised its stake by 148.6%, owning 87 shares worth $37,000. Twin Peaks Wealth Advisors also took a new position valued at $39,000.
Research analysts have varied opinions on the stock, with Weiss Ratings maintaining a “hold” rating. Evercore ISI increased its price target from $500 to $525, giving Motorola Solutions an “outperform” rating. Meanwhile, Northcoast Research upgraded the stock from "neutral" to "buy," setting a target of $450. Piper Sandler maintained a “neutral” rating with a price target of $465, down from $495. Barclays lowered its target from $509 to $495 while maintaining an “overweight” rating.
Currently, six analysts have given the stock a "buy" rating, and four have issued "hold" ratings. MarketBeat reports a consensus rating of "Moderate Buy" and a target price of $495.
Motorola Solutions' stock opened at $363.92 on Wednesday. The company has a market cap of $60.61 billion, a PE ratio of 29.21, and a debt-to-equity ratio of 3.59. Its 52-week trading range is between $359.36 and $492.22.
For the quarter ending October 31st, Motorola Solutions reported earnings of $4.06 per share, surpassing analysts' expectations of $3.85. Revenue was $3.01 billion, exceeding the projected $2.99 billion. Year-over-year, revenue grew by 7.8%. The company’s net margin stood at 18.71%, with a return on equity of 118.48%. Analysts expect earnings of $13.55 per share for the full year.
Motorola Solutions also raised its quarterly dividend to $1.21 per share, payable January 15th, to stockholders of record by December 15th. This increase represents a 1.3% dividend yield, up from the previous $0.01 dividend. The company's payout ratio stands at 38.84%.
Motorola Solutions provides public safety and enterprise security solutions globally, including in the U.S., UK, and Canada. The company operates in two segments: Products and Systems Integration, and Software and Services. It offers a broad range of infrastructure, devices, accessories, and video security solutions, as well as integration services for government and commercial customers who manage private communications networks.