Bank of America Raises Motorola Solutions (NYSE:MSI) Price Target to $440.00

Motorola Solutions (NYSE:MSI) had its price objective raised by Bank of America from $370.00 to $440.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the communications equipment provider’s stock.

Several other research analysts have also commented on MSI. Barclays boosted their price target on Motorola Solutions from $362.00 to $372.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. Evercore ISI started coverage on Motorola Solutions in a research report on Monday, March 25th. They issued an outperform rating and a $400.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Motorola Solutions from $400.00 to $405.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Motorola Solutions from $375.00 to $385.00 and gave the company a buy rating in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $374.57.

Motorola Solutions Price Performance

Shares of MSI stock opened at $390.19 on Thursday. The stock has a market capitalization of $65.08 billion, a price-to-earnings ratio of 48.23, a P/E/G ratio of 3.41 and a beta of 0.94. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 11.16. Motorola Solutions has a twelve month low of $269.64 and a twelve month high of $398.88. The stock has a fifty day simple moving average of $377.98 and a two-hundred day simple moving average of $350.30.

Motorola Solutions (NYSE:MSI) last released its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.27 by $0.29. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.34 billion. Motorola Solutions had a return on equity of 398.16% and a net margin of 13.64%. On average, analysts predict that Motorola Solutions will post 12.07 EPS for the current fiscal year.

Motorola Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.00%. The ex-dividend date was Friday, June 14th. Motorola Solutions’s dividend payout ratio is currently 48.45%.

Insider Buying and Selling at Motorola Solutions

In other Motorola Solutions news, SVP Rajan Naik sold 5,274 shares of the business’s stock in a transaction dated 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 owns 8,939 shares in the company, valued at approximately $3,341,487.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Motorola Solutions news, CAO Katherine A. Maher sold 2,615 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $354.68, for a total transaction of $927,488.20. Following the sale, the chief accounting officer now owns 1,138 shares in the company, valued at approximately $403,625.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Rajan Naik sold 5,274 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $373.81, for a total value of $1,971,473.94. Following the sale, the senior vice president now 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 90 days, insiders have sold 9,389 shares of company stock worth $3,446,461. 1.50% of the stock is currently owned by insiders.

Institutional Trading of Motorola Solutions

A number of hedge funds have recently modified their holdings of the stock. First Citizens Bank & Trust Co. boosted its stake in shares of Motorola Solutions by 9.1% in the second quarter. First Citizens Bank & Trust Co. now owns 648 shares of the communications equipment provider’s stock worth $250,000 after buying an additional 54 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Motorola Solutions in the second quarter worth about $2,874,000. First Horizon Advisors Inc. boosted its stake in shares of Motorola Solutions by 17.3% in the second quarter. First Horizon Advisors Inc. now owns 318 shares of the communications equipment provider’s stock worth $123,000 after buying an additional 47 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Motorola Solutions by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 993,689 shares of the communications equipment provider’s stock worth $383,614,000 after buying an additional 4,984 shares during the last quarter. Finally, MONECO Advisors LLC purchased a new stake in shares of Motorola Solutions in the second quarter worth about $338,000. Hedge funds and other institutional investors own 84.17% 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.