Montecito Bank & Trust Reduces Stock Holdings in Motorola Solutions Inc (NYSE:MSI)
Montecito Bank & Trust reduced its stake in shares of Motorola Solutions Inc (NYSE:MSI) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,029 shares of the communications equipment provider’s stock after selling 329 shares during the quarter. Montecito Bank & Trust’s holdings in Motorola Solutions were worth $1,005,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Motorola Solutions by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 467,391 shares of the communications equipment provider’s stock worth $53,759,000 after acquiring an additional 31,805 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Motorola Solutions by 12.3% during the fourth quarter. Geode Capital Management LLC now owns 2,456,130 shares of the communications equipment provider’s stock worth $282,258,000 after acquiring an additional 269,031 shares during the last quarter. Suntrust Banks Inc. boosted its position in shares of Motorola Solutions by 9.8% during the fourth quarter. Suntrust Banks Inc. now owns 12,224 shares of the communications equipment provider’s stock worth $1,407,000 after acquiring an additional 1,089 shares during the last quarter. Paloma Partners Management Co bought a new position in shares of Motorola Solutions during the fourth quarter worth $259,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Motorola Solutions during the fourth quarter worth $495,000. Institutional investors and hedge funds own 85.69% of the company’s stock.
MSI stock traded up $0.82 during trading on Tuesday, hitting $170.80. The company had a trading volume of 475,223 shares, compared to its average volume of 990,885. The stock has a market cap of $27.83 billion, a price-to-earnings ratio of 25.01, a P/E/G ratio of 2.98 and a beta of 0.58. Motorola Solutions Inc has a 52-week low of $108.25 and a 52-week high of $173.44. The firm has a 50 day moving average of $166.49.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, June 13th. Motorola Solutions’s payout ratio is 33.38%.
In other Motorola Solutions news, Chairman Gregory Q. Brown sold 21,600 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $146.93, for a total transaction of $3,173,688.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark S. Hacker sold 54,712 shares of the stock in a transaction dated Monday, May 6th. The stock was 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. Over the last quarter, insiders have sold 293,426 shares of company stock worth $45,783,035. 2.99% of the stock is owned by company insiders.
MSI has been the subject of a number of research reports. Citigroup restated a “sell” rating on shares of Bayerische Motoren Werke in a research report on Friday, April 5th. Argus decreased their price target on shares of Domino’s Pizza from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. MKM Partners upped their price target on shares of Arista Networks to $295.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Raymond James set a $60.00 price target on shares of Banner and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Total in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $148.00.
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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