Bank of Nova Scotia Sells 40,676 Shares of Motorola Solutions, Inc. (NYSE:MSI)

Key Points

• Bank of Nova Scotia reduced its stake in Motorola Solutions, Inc. by 23.7%, selling 40,676 shares and leaving it with 131,064 shares valued at approximately $57.38 million.
• Motorola Solutions reported $3.18 EPS for the last quarter, exceeding analysts' expectations, and had quarterly revenue of $2.53 billion, reflecting a year-over-year increase of 5.8%.
• Several institutional investors changed their positions in Motorola Solutions, with 84.17% of the company's stock now owned by institutional investors and notable activity including a 552.3% stake increase by Landscape Capital Management L.L.C.

Bank of Nova Scotia decreased its stake in Motorola Solutions, Inc. (NYSE:MSI - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,064 shares of the communications equipment provider's stock after selling 40,676 shares during the period. Bank of Nova Scotia owned about 0.08% of Motorola Solutions worth $57,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MSI. Perennial Investment Advisors LLC lifted its stake in Motorola Solutions by 14.4% in the 4th quarter. Perennial Investment Advisors LLC now owns 828 shares of the communications equipment provider's stock valued at $383,000 after purchasing an additional 104 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in Motorola Solutions in the 4th quarter valued at approximately $208,000. PAX Financial Group LLC bought a new position in Motorola Solutions in the 4th quarter valued at approximately $525,000. Landscape Capital Management L.L.C. raised its stake in shares of Motorola Solutions by 552.3% during the fourth quarter. Landscape Capital Management L.L.C. now owns 4,481 shares of the communications equipment provider's stock valued at $2,071,000 after acquiring an additional 3,794 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in shares of Motorola Solutions during the fourth quarter valued at $32,222,000. Institutional investors own 84.17% of the company's stock.

Motorola Solutions Price Performance

Shares of NYSE MSI opened at $437.08 on Friday. Motorola Solutions, Inc. has a twelve month low of $388.90 and a twelve month high of $507.82. The firm has a fifty day simple moving average of $418.71 and a 200 day simple moving average of $428.41. The company has a market capitalization of $72.96 billion, a PE ratio of 36.48, a P/E/G ratio of 3.76 and a beta of 0.97. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 3.42.

Motorola Solutions (NYSE:MSI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $3.18 EPS for the quarter, topping analysts' consensus estimates of $3.01 by $0.17. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.52 billion. Motorola Solutions had a net margin of 18.67% and a return on equity of 160.93%. The business's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $2.81 earnings per share. On average, sell-side analysts forecast that Motorola Solutions, Inc. will post 13.55 EPS for the current year.

Motorola Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th were issued a $1.09 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Friday, June 13th. Motorola Solutions's dividend payout ratio (DPR) is presently 36.39%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Motorola Solutions from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Barclays dropped their price target on shares of Motorola Solutions from $527.00 to $511.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Wolfe Research assumed coverage on shares of Motorola Solutions in a research note on Monday, July 7th. They set a "peer perform" rating for the company. JPMorgan Chase & Co. dropped their price target on shares of Motorola Solutions from $570.00 to $515.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, UBS Group assumed coverage on shares of Motorola Solutions in a research note on Wednesday, July 16th. They set a "buy" rating and a $490.00 price target for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $510.67.

Insider Buying and Selling

In other Motorola Solutions news, CAO Katherine A. Maher sold 1,073 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $418.68, for a total value of $449,243.64. Following the completion of the sale, the chief accounting officer directly owned 804 shares in the company, valued at approximately $336,618.72. This trade represents a 57.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.44% of the company's stock.

Motorola Solutions Company Profile

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.

Want to see what other hedge funds are holding MSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Motorola Solutions, Inc. (NYSE:MSI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.