Empire Life Investments Inc. Decreases Position in Motorola Solutions, Inc. (NYSE:MSI)

Key Points

• Empire Life Investments Inc. reduced its stake in Motorola Solutions by 5.0%, selling 2,940 shares during the first quarter, leaving it with 55,518 shares valued at approximately $24.3 million.
• Several large investors increased their positions in Motorola Solutions in the last quarter, with 84.17% of the stock now owned by institutional investors.
• The company recently reported a quarterly profit of $3.18 earnings per share, exceeding expectations, along with a dividend yield of 1.0% following a $1.09 dividend payment on July 15th.

Empire Life Investments Inc. decreased its position in shares of Motorola Solutions, Inc. (NYSE:MSI - Free Report) by 5.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,518 shares of the communications equipment provider's stock after selling 2,940 shares during the quarter. Motorola Solutions accounts for approximately 1.6% of Empire Life Investments Inc.'s investment portfolio, making the stock its 21st largest holding. Empire Life Investments Inc.'s holdings in Motorola Solutions were worth $24,306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Perennial Investment Advisors LLC lifted its holdings in Motorola Solutions by 14.4% in the fourth quarter. Perennial Investment Advisors LLC now owns 828 shares of the communications equipment provider's stock valued at $383,000 after acquiring an additional 104 shares during the period. Revolve Wealth Partners LLC purchased a new stake in Motorola Solutions in the 4th quarter valued at $208,000. Envestnet Asset Management Inc. grew its holdings in Motorola Solutions by 54.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 570,894 shares of the communications equipment provider's stock valued at $263,885,000 after buying an additional 201,920 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Motorola Solutions by 25.2% during the 4th quarter. Wedbush Securities Inc. now owns 1,033 shares of the communications equipment provider's stock worth $477,000 after purchasing an additional 208 shares during the period. Finally, Federated Hermes Inc. grew its holdings in shares of Motorola Solutions by 1.5% during the 4th quarter. Federated Hermes Inc. now owns 136,702 shares of the communications equipment provider's stock worth $63,188,000 after purchasing an additional 2,039 shares during the period. Institutional investors and hedge funds own 84.17% of the company's stock.

Motorola Solutions Stock Up 1.9%

Shares of NYSE MSI traded up $8.35 during midday trading on Wednesday, hitting $442.40. 669,315 shares of the company's stock were exchanged, compared to its average volume of 842,281. The company has a market cap of $73.85 billion, a PE ratio of 36.93, a P/E/G ratio of 3.73 and a beta of 0.97. Motorola Solutions, Inc. has a twelve month low of $388.90 and a twelve month high of $507.82. The firm's fifty day simple moving average is $419.42 and its 200-day simple moving average is $428.04. The company has a debt-to-equity ratio of 3.42, a current ratio of 1.20 and a quick ratio of 1.03.

Motorola Solutions Announces Dividend

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

Insider Buying and Selling at Motorola Solutions

In other Motorola Solutions news, CAO Katherine A. Maher sold 1,073 shares of Motorola Solutions stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $418.68, for a total value of $449,243.64. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. UBS Group assumed coverage on Motorola Solutions in a report on Wednesday, July 16th. They set a "buy" rating and a $490.00 price target for the company. Wall Street Zen cut Motorola Solutions from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. lowered their target price on Motorola Solutions from $570.00 to $515.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. William Blair restated an "outperform" rating on shares of Motorola Solutions in a report on Wednesday, May 28th. Finally, Wolfe Research assumed coverage on Motorola Solutions in a report on Monday, July 7th. They set a "peer perform" rating for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $510.67.

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.