Entropy Technologies LP significantly increased its investment in Motorola Solutions, Inc. (NYSE: MSI) during the second quarter of 2023, raising its stake by an impressive 409.6%. According to HoldingsChannel, the fund now holds 18,431 shares of the communications equipment provider after acquiring an additional 14,814 shares during the quarter. As of the end of June, these shares were valued at approximately $7.75 million.
Other institutional investors also adjusted their positions in Motorola Solutions. For instance, Obermeyer Wealth Partners increased its holdings by 261.0%, now owning 8,073 shares worth around $3.39 million. Similarly, Machina Capital S.A.S. boosted its stake by 345.3%, acquiring 13,948 shares valued at $5.87 million.
Additional Institutional Investments and Stock Performance
New positions were also established by Whalen Wealth Management Inc. and Rockline Wealth Management LLC, with investments of approximately $257,000 and $333,000, respectively. Furthermore, Aware Super Pty Ltd increased its stake by 101.5%, owning 70,231 shares valued at about $29.53 million.
Overall, institutional investors now control 84.17% of Motorola Solutions’ stock. As of last Friday, shares of NYSE: MSI opened at $366.66. The company has a market capitalization of $61.07 billion and a debt-to-equity ratio of 3.86, indicating a robust financial position.
Motorola Solutions also recently announced a quarterly dividend of $1.21 per share, scheduled for distribution on January 15, 2024. Shareholders on record as of December 15, 2023 will receive this dividend, which represents an annualized amount of $4.84 and a dividend yield of 1.3%. This increase follows a previous quarterly dividend of just $0.01.
Insider Transactions and Analyst Ratings
In related news, insider trading activity has seen significant movements. Rajan Naik, Senior Vice President, sold 8,014 shares on September 3, 2023 at an average price of $474.45, totaling approximately $3.80 million. Following this transaction, Naik retains 10,244 shares valued at around $4.86 million.
Additionally, CEO Gregory Q. Brown sold 50,000 shares on September 12, 2023 at an average price of $483.50, resulting in a total sale value of $24.18 million. This sale reduced Brown’s ownership to 46,936 shares worth approximately $22.69 million.
Analysts have weighed in on Motorola Solutions, with several adjusting their price targets. Piper Sandler maintained a “neutral” rating but lowered its target from $495.00 to $465.00. Barclays also decreased its target from $509.00 to $495.00, while Weiss Ratings reaffirmed a “buy” rating. Evercore ISI raised its target from $500.00 to $525.00, indicating strong confidence in the company’s future performance.
With seven analysts rating the stock as a buy and three as hold, MarketBeat.com reports Motorola Solutions has an average rating of “Moderate Buy” and an average price target of $506.43.
Motorola Solutions, Inc. provides critical public safety and enterprise security solutions across various countries, including the United States, the United Kingdom, and Canada. The company operates in two main segments: Products and Systems Integration, and Software and Services, catering to government, public safety, and commercial clients.
