Summit Global Investments Sells 6,523 Shares of Motorola Solutions, Inc. (NYSE:MSI)

Summit Global Investments lessened its position in Motorola Solutions, Inc. (NYSE:MSI) by 38.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,542 shares of the communications equipment provider’s stock after selling 6,523 shares during the quarter. Summit Global Investments’ holdings in Motorola Solutions were worth $4,070,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MSI. Hobbs Group Advisors LLC bought a new position in Motorola Solutions in the 2nd quarter valued at $54,000. SeaCrest Wealth Management LLC grew its holdings in shares of Motorola Solutions by 5.3% in the second quarter. SeaCrest Wealth Management LLC now owns 730 shares of the communications equipment provider’s stock worth $282,000 after purchasing an additional 37 shares during the last quarter. MBE Wealth Management LLC purchased a new position in Motorola Solutions in the 2nd quarter worth about $201,000. Dakota Wealth Management increased its stake in Motorola Solutions by 14.7% in the 2nd quarter. Dakota Wealth Management now owns 2,320 shares of the communications equipment provider’s stock worth $896,000 after buying an additional 297 shares during the period. Finally, Ninety One UK Ltd lifted its holdings in Motorola Solutions by 1.2% during the 2nd quarter. Ninety One UK Ltd now owns 601,656 shares of the communications equipment provider’s stock valued at $232,269,000 after buying an additional 7,335 shares in the last quarter. 84.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Motorola Solutions from $436.00 to $440.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America lifted their target price on Motorola Solutions from $370.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Barclays increased their price target on Motorola Solutions from $372.00 to $467.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Motorola Solutions from $385.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Motorola Solutions currently has a consensus rating of “Buy” and a consensus target price of $437.40.

Motorola Solutions Stock Up 0.9 %

Shares of MSI traded up $3.94 during trading hours on Tuesday, hitting $426.38. The company had a trading volume of 407,284 shares, compared to its average volume of 664,592. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 11.16. The company has a market capitalization of $71.12 billion, a PE ratio of 52.70, a price-to-earnings-growth ratio of 3.48 and a beta of 0.94. Motorola Solutions, Inc. has a one year low of $269.64 and a one year high of $426.87. The company’s fifty day moving average price is $395.32 and its two-hundred day moving average price is $363.77.

Motorola Solutions (NYSE:MSI) last announced its earnings results on Thursday, August 1st. The communications equipment provider reported $3.24 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.23. Motorola Solutions had a net margin of 14.04% and a return on equity of 378.15%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the previous year, the company posted $2.41 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that Motorola Solutions, Inc. will post 12.09 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kenneth D. Denman sold 690 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $373.11, for a total transaction of $257,445.90. Following the transaction, the director now directly owns 8,141 shares in the company, valued at approximately $3,037,488.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Kenneth D. Denman sold 690 shares of Motorola Solutions stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $373.11, for a total value of $257,445.90. Following the completion of the sale, the director now directly owns 8,141 shares in the company, valued at approximately $3,037,488.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rajan Naik sold 5,274 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $373.81, for a total transaction of $1,971,473.94. Following the sale, the senior vice president now directly owns 8,939 shares in the company, valued at approximately $3,341,487.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,949 shares of company stock worth $12,002,807. Insiders own 1.50% of the company’s stock.

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.