Drive Wealth Management LLC Boosts Stock Holdings in Motorola Solutions, Inc. (NYSE:MSI)

Drive Wealth Management LLC boosted its stake in Motorola Solutions, Inc. (NYSE:MSI) by 4.0% during the 3rd quarter, Holdings Channel reports. The firm owned 809 shares of the communications equipment provider’s stock after buying an additional 31 shares during the quarter. Drive Wealth Management LLC’s holdings in Motorola Solutions were worth $365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James & Associates lifted its position in Motorola Solutions by 3.7% during the second quarter. Raymond James & Associates now owns 2,319,631 shares of the communications equipment provider’s stock valued at $895,494,000 after purchasing an additional 82,044 shares during the last quarter. Legal & General Group Plc grew its position in Motorola Solutions by 7.7% in the second quarter. Legal & General Group Plc now owns 1,530,660 shares of the communications equipment provider’s stock worth $590,911,000 after acquiring an additional 110,072 shares in the last quarter. Swedbank AB raised its position in Motorola Solutions by 215.7% during the second quarter. Swedbank AB now owns 1,023,956 shares of the communications equipment provider’s stock valued at $395,298,000 after purchasing an additional 699,615 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Motorola Solutions by 0.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 993,689 shares of the communications equipment provider’s stock valued at $383,614,000 after purchasing an additional 4,984 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Motorola Solutions by 59,189.5% in the 3rd quarter. International Assets Investment Management LLC now owns 967,604 shares of the communications equipment provider’s stock worth $435,064,000 after purchasing an additional 965,972 shares during the period. Institutional investors own 84.17% of the company’s stock.

Wall Street Analysts Forecast Growth

MSI has been the subject of a number of analyst reports. Raymond James raised their price target on Motorola Solutions from $425.00 to $515.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of Motorola Solutions from $460.00 to $510.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Barclays increased their price objective on shares of Motorola Solutions from $467.00 to $529.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Evercore ISI boosted their target price on Motorola Solutions from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Bank of America upped their target price on Motorola Solutions from $440.00 to $520.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $493.43.

Motorola Solutions Stock Up 0.3 %

Shares of NYSE MSI opened at $490.35 on Tuesday. Motorola Solutions, Inc. has a 52-week low of $307.09 and a 52-week high of $507.82. The firm has a market capitalization of $81.95 billion, a price-to-earnings ratio of 53.71, a PEG ratio of 4.02 and a beta of 0.97. The stock has a 50 day moving average price of $461.40 and a 200 day moving average price of $416.37. The company has a debt-to-equity ratio of 4.23, a quick ratio of 1.07 and a current ratio of 1.25.

Motorola Solutions (NYSE:MSI) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.36. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Motorola Solutions had a return on equity of 251.96% and a net margin of 14.65%. Sell-side analysts expect that Motorola Solutions, Inc. will post 12.48 earnings per share for the current year.

Motorola Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $1.09 per share. This is an increase from Motorola Solutions’s previous quarterly dividend of $0.98. The ex-dividend date is Friday, December 13th. This represents a $4.36 dividend on an annualized basis and a yield of 0.89%. Motorola Solutions’s dividend payout ratio (DPR) is 42.94%.

About Motorola Solutions

Motorola Solutions, Inc provides public safety and enterprise security solutions in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and Services. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video security devices and infrastructure, as well as the implementation and integration of systems, devices, software, and applications for government, public safety, and commercial customers who operate private communications networks and video security solutions, as well as manage a mobile workforce.