Motorola Solutions, Inc. (NYSE:MSI) Stake Cut by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its stake in shares of Motorola Solutions, Inc. (NYSE:MSI) by 0.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 138,105 shares of the communications equipment provider’s stock after selling 1,055 shares during the period. CIBC Asset Management Inc’s holdings in Motorola Solutions were worth $61,980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ increased its position in Motorola Solutions by 32.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 358,011 shares of the communications equipment provider’s stock worth $138,210,000 after purchasing an additional 88,603 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of Motorola Solutions in the second quarter worth about $19,694,000. Los Angeles Capital Management LLC lifted its position in shares of Motorola Solutions by 8.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 409,421 shares of the communications equipment provider’s stock worth $184,088,000 after purchasing an additional 32,157 shares during the last quarter. First Foundation Advisors grew its holdings in Motorola Solutions by 37.7% in the 1st quarter. First Foundation Advisors now owns 354 shares of the communications equipment provider’s stock valued at $126,000 after buying an additional 97 shares during the last quarter. Finally, Heritage Wealth Management Inc. acquired a new position in shares of Motorola Solutions during the second quarter worth approximately $790,000. 84.17% of the stock is currently owned by hedge funds and other institutional investors.

Motorola Solutions Price Performance

Shares of MSI stock opened at $493.70 on Friday. The company has a debt-to-equity ratio of 4.23, a current ratio of 1.25 and a quick ratio of 1.07. The stock’s fifty day simple moving average is $458.10 and its 200 day simple moving average is $412.66. Motorola Solutions, Inc. has a one year low of $307.09 and a one year high of $507.82. The firm has a market cap of $82.51 billion, a price-to-earnings ratio of 54.07, a P/E/G ratio of 4.15 and a beta of 0.97.

Motorola Solutions (NYSE:MSI) last posted 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. Motorola Solutions had a net margin of 14.65% and a return on equity of 251.96%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. On average, analysts expect that Motorola Solutions, Inc. will post 12.26 earnings per share for the current fiscal year.

Motorola Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $1.09 per share. This is a positive change from Motorola Solutions’s previous quarterly dividend of $0.98. This represents a $4.36 dividend on an annualized basis and a yield of 0.88%. Motorola Solutions’s dividend payout ratio is 42.94%.

Analysts Set New Price Targets

MSI has been the subject of a number of research reports. Bank of America increased their price target on shares of Motorola Solutions from $440.00 to $520.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Barclays lifted their target price on Motorola Solutions from $467.00 to $529.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Motorola Solutions from $436.00 to $440.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their price objective on Motorola Solutions from $460.00 to $510.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Evercore ISI raised their target price on Motorola Solutions from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $493.43.

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.