Envestnet Asset Management Inc. Cuts Holdings in Motorola Solutions Inc (NYSE:MSI)

Envestnet Asset Management Inc. cut its position in shares of Motorola Solutions Inc (NYSE:MSI) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,163 shares of the communications equipment provider’s stock after selling 21,890 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of Motorola Solutions worth $17,435,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Motorola Solutions by 0.5% in the 4th quarter. BlackRock Inc. now owns 18,635,987 shares of the communications equipment provider’s stock worth $2,143,884,000 after purchasing an additional 95,399 shares during the last quarter. Vanguard Group Inc raised its position in shares of Motorola Solutions by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 17,158,918 shares of the communications equipment provider’s stock valued at $2,233,062,000 after acquiring an additional 280,698 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Motorola Solutions by 10,544.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,378,307 shares of the communications equipment provider’s stock valued at $38,000 after acquiring an additional 4,337,175 shares during the last quarter. Parnassus Investments CA raised its position in shares of Motorola Solutions by 1.1% during the 4th quarter. Parnassus Investments CA now owns 4,265,162 shares of the communications equipment provider’s stock valued at $490,664,000 after acquiring an additional 44,686 shares during the last quarter. Finally, APG Asset Management N.V. raised its position in shares of Motorola Solutions by 2.3% during the 4th quarter. APG Asset Management N.V. now owns 2,775,493 shares of the communications equipment provider’s stock valued at $279,310,000 after acquiring an additional 61,800 shares during the last quarter. 85.83% of the stock is currently owned by institutional investors and hedge funds.

NYSE:MSI traded up $2.13 on Friday, hitting $166.73. 2,931,100 shares of the company’s stock were exchanged, compared to its average volume of 1,030,499. The business has a 50-day simple moving average of $155.84. The stock has a market capitalization of $27.17 billion, a P/E ratio of 24.41, a P/E/G ratio of 2.91 and a beta of 0.52. Motorola Solutions Inc has a 52 week low of $108.25 and a 52 week high of $169.30.

Motorola Solutions (NYSE:MSI) last issued its earnings results on Thursday, May 2nd. The communications equipment provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.20. The company had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Motorola Solutions had a net margin of 13.29% and a negative return on equity of 91.61%. Motorola Solutions’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, analysts predict that Motorola Solutions Inc will post 7.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.57 dividend. The ex-dividend date is Thursday, June 13th. This represents a $2.28 annualized dividend and a yield of 1.37%. Motorola Solutions’s dividend payout ratio is currently 33.38%.

Several analysts have commented on MSI shares. Citigroup upped their target price on shares of Motorola Solutions from $145.00 to $170.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Deutsche Bank boosted their price target on shares of Motorola Solutions from $150.00 to $160.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Zacks Investment Research lowered shares of Motorola Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. BTIG Research boosted their price target on shares of Motorola Solutions from $137.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, MKM Partners boosted their price target on shares of Motorola Solutions to $143.00 and gave the company a “neutral” rating in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $139.39.

In other Motorola Solutions news, EVP John P. Molloy sold 165,852 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $162.06, for a total transaction of $26,877,975.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Daniel G. Pekofske sold 4,785 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $143.03, for a total transaction of $684,398.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 298,211 shares of company stock worth $46,467,434. Insiders own 2.99% of the company’s stock.

About Motorola Solutions

Motorola Solutions, Inc provides mission-critical communication solutions the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Services and Software. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video solutions, as well as the implementation, optimization, and integration of networks, devices, software, and applications for government, public safety and first-responder agencies, municipalities, and commercial and industrial customers.

Further Reading: Economic Reports

Institutional Ownership by Quarter for Motorola Solutions (NYSE:MSI)

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