American Century Companies Inc. has decreased its stake in Motorola Solutions, Inc. (NYSE: MSI) by 18.6% during the third quarter of 2024. According to a recent filing with the Securities and Exchange Commission (SEC), the firm now holds 259,555 shares of the communications equipment provider, having sold 59,276 shares during this period. This adjustment brings American Century’s total ownership to approximately 0.16% of Motorola Solutions, valued at about $118.7 million.
Several other institutional investors have also made notable adjustments to their positions in Motorola Solutions. Orion Capital Management LLC acquired a new stake in the company valued at approximately $25,000. Additionally, United Community Bank increased its holdings by 81.3%, now owning 58 shares worth around $27,000 after buying 26 more shares last quarter. Other firms such as Halbert Hargrove Global Advisors LLC and Field & Main Bank also entered new positions, valued at $33,000 and $35,000 respectively, during the same period. Overall, institutional investors currently control 84.17% of Motorola Solutions’ stock.
In related insider activity, Director Kenneth D. Denman sold 434 shares on February 26, 2024, at an average price of $470.12, resulting in a transaction valued at $204,032.08. Post-sale, Denman retained 7,153 shares, valued at approximately $3.36 million, reflecting a 5.72% decrease in his ownership. On the same day, CEO Cynthia Yazdi sold 7,000 shares at an average price of $471.01, totaling $3.3 million. After this transaction, Yazdi holds 9,529 shares worth around $4.49 million, marking a decrease of 42.35% in her ownership. In total, insiders have sold 100,634 shares valued at approximately $47.2 million over the past 90 days.
Motorola Solutions opened at $486.31 on Tuesday, with a debt-to-equity ratio of 3.47 and a quick ratio of 0.87. The company’s market capitalization stands at $80.56 billion, with a price-to-earnings (P/E) ratio of 38.11 and a price-to-earnings-growth (PEG) ratio of 3.38. The stock has experienced a 52-week low of $359.36 and a high of $492.22, with moving averages of $413.39 for the 50-day and $422.36 for the 200-day periods.
Motorola Solutions reported its quarterly earnings on February 11, 2024, announcing earnings per share (EPS) of $4.59, surpassing analysts’ estimates of $4.35 by $0.24. The company generated revenue of $3.38 billion for the quarter, exceeding the consensus estimate of $3.34 billion. This represented an annual revenue increase of 12.3% compared to the same period last year.
The board of directors has also declared a quarterly dividend of $1.21, set to be paid on April 15, 2024, to shareholders on record as of March 20, 2024. This translates to an annualized dividend of $4.84 and a yield of 1.0%. The company’s current dividend payout ratio stands at 37.93%.
Recent analyst ratings reflect a positive outlook for Motorola Solutions. Piper Sandler reaffirmed an “overweight” rating, raising its price target to $499.00, up from $443.00. Morgan Stanley similarly maintained an “overweight” rating with a target price of $470.00. Meanwhile, JPMorgan Chase & Co. increased its price objective from $515.00 to $520.00 while assigning the stock an “overweight” rating. Overall, one analyst has rated Motorola Solutions as a Strong Buy, eight have assigned a Buy rating, and two have issued a Hold rating, leading to a consensus rating of “Moderate Buy” with an average target price of $497.14.
Motorola Solutions, Inc. specializes in mission-critical communications and analytics solutions for public safety and commercial customers, focusing on secure connectivity and situational awareness for organizations reliant on dependable communication systems.
