Zacks Investment Research upgraded shares of Motorola Solutions (NYSE:MSI) from a hold rating to a buy rating in a research note released on Friday, Zacks.com reports. The brokerage currently has $160.00 price target on the communications equipment provider’s stock.
According to Zacks, “Motorola started 2019 on a positive note with record first-quarter revenues, operating earnings and backlog, driven by strength in both segments and diligent execution of operational plans. The company’s growth momentum is likely to continue throughout the year with healthy demand across its portfolio. Motorola intends to boost its position in the public safety domain by entering into strategic alliances with other players in the ecosystem. The company’s competitive position, disciplined capital deployment and attractive portfolio augur well for the future. Management also reiterated its earlier guidance for 2019 on the back of solid demand trends and healthy growth dynamics. The stock has outperformed the industry over the past year on average. However, adverse currency translations remain headwinds as the company generates significant revenues outside the United States.”
A number of other equities analysts also recently weighed in on MSI. Citigroup raised their target price on shares of Motorola Solutions from $145.00 to $170.00 and gave the company a buy rating in a research note on Friday, April 5th. Deutsche Bank raised their target price on shares of Motorola Solutions from $150.00 to $160.00 and gave the company a buy rating in a research note on Tuesday, April 9th. Raymond James set a $139.00 target price on shares of Motorola Solutions and gave the company a buy rating in a research note on Friday, February 8th. TheStreet raised shares of Motorola Solutions from a c+ rating to a b- rating in a research note on Tuesday, February 26th. Finally, Credit Suisse Group raised their target price on shares of Motorola Solutions from $134.00 to $148.00 and gave the company an outperform rating in a research note on Monday, February 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $139.39.
MSI stock opened at $143.23 on Friday. Motorola Solutions has a 1 year low of $105.89 and a 1 year high of $148.50. The stock has a market capitalization of $24.46 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.56 and a beta of 0.59.
Motorola Solutions (NYSE:MSI) last released its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.20. Motorola Solutions had a net margin of 13.29% and a negative return on equity of 91.61%. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. Motorola Solutions’s revenue was up 12.9% on a year-over-year basis. On average, analysts anticipate that Motorola Solutions will post 7.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.59%. Motorola Solutions’s dividend payout ratio is 33.38%.
In related news, EVP John P. Molloy sold 79,995 shares of the firm’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $139.42, for a total transaction of $11,152,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark S. Hacker sold 54,712 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $140.75, for a total transaction of $7,700,714.00. The disclosure for this sale can be found here. Insiders have sold 153,092 shares of company stock valued at $21,478,871 in the last ninety days. Insiders own 2.99% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in MSI. Truvestments Capital LLC bought a new stake in shares of Motorola Solutions during the first quarter valued at approximately $28,000. Reilly Financial Advisors LLC boosted its holdings in Motorola Solutions by 386.0% in the first quarter. Reilly Financial Advisors LLC now owns 418 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 332 shares during the last quarter. Institutional & Family Asset Management LLC boosted its holdings in Motorola Solutions by 100.0% in the first quarter. Institutional & Family Asset Management LLC now owns 200 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Liberty Wealth Management LLC purchased a new stake in Motorola Solutions in the fourth quarter worth approximately $32,000. Finally, Exane Asset Management purchased a new stake in Motorola Solutions in the fourth quarter worth approximately $35,000. 87.07% of the stock is owned by institutional investors.
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.
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