Eventide Asset Management LLC Takes $11.98 Million Position in Motorola Solutions, Inc. (NYSE:MSI)

Eventide Asset Management LLC acquired a new stake in Motorola Solutions, Inc. (NYSE:MSI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 26,633 shares of the communications equipment provider’s stock, valued at approximately $11,975,000.

Several other hedge funds also recently modified their holdings of the stock. Verition Fund Management LLC increased its stake in shares of Motorola Solutions by 136.3% in the 3rd quarter. Verition Fund Management LLC now owns 10,904 shares of the communications equipment provider’s stock valued at $4,903,000 after acquiring an additional 6,289 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Motorola Solutions in the 3rd quarter valued at $6,169,000. Martingale Asset Management L P increased its stake in shares of Motorola Solutions by 9.9% in the 3rd quarter. Martingale Asset Management L P now owns 28,862 shares of the communications equipment provider’s stock valued at $12,977,000 after acquiring an additional 2,599 shares in the last quarter. Vinva Investment Management Ltd grew its position in Motorola Solutions by 44.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 8,195 shares of the communications equipment provider’s stock valued at $3,658,000 after purchasing an additional 2,528 shares during the period. Finally, Public Sector Pension Investment Board grew its position in Motorola Solutions by 14.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 7,292 shares of the communications equipment provider’s stock valued at $3,279,000 after purchasing an additional 900 shares during the period. Institutional investors own 84.17% of the company’s stock.

Motorola Solutions Stock Performance

Motorola Solutions stock opened at $500.66 on Friday. Motorola Solutions, Inc. has a twelve month low of $307.09 and a twelve month high of $507.82. The company has a quick ratio of 1.07, a current ratio of 1.25 and a debt-to-equity ratio of 4.23. The firm has a fifty day simple moving average of $470.38 and a two-hundred day simple moving average of $423.22. The company has a market capitalization of $83.67 billion, a PE ratio of 54.84, a P/E/G ratio of 3.97 and a beta of 0.97.

Motorola Solutions (NYSE:MSI) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.36. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Motorola Solutions had a net margin of 14.65% and a return on equity of 251.96%. Research analysts expect that Motorola Solutions, Inc. will post 12.48 EPS for the current year.

Motorola Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.09 per share. This is an increase from Motorola Solutions’s previous quarterly dividend of $0.98. The ex-dividend date is Friday, December 13th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 0.87%. Motorola Solutions’s dividend payout ratio is 42.94%.

Analyst Upgrades and Downgrades

MSI has been the subject of several research reports. Barclays lifted their price target on shares of Motorola Solutions from $467.00 to $529.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of Motorola Solutions from $460.00 to $510.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America lifted their price objective on shares of Motorola Solutions from $440.00 to $520.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Raymond James lifted their price objective on shares of Motorola Solutions from $425.00 to $515.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Motorola Solutions from $436.00 to $440.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $506.29.

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.