Motorola Solutions Inc (MSI) Declares Dividend Increase – $0.57 Per Share
Motorola Solutions Inc (NYSE:MSI) announced a quarterly dividend on Thursday, November 15th, RTT News reports. Investors of record on Friday, December 14th will be given a dividend of 0.57 per share by the communications equipment provider on Tuesday, January 15th. This represents a $2.28 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, December 13th. This is a positive change from Motorola Solutions’s previous quarterly dividend of $0.52.
Motorola Solutions has raised its dividend payment by an average of 14.0% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Motorola Solutions has a dividend payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Motorola Solutions to earn $7.29 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 31.3%.
MSI stock traded down $2.23 during midday trading on Friday, reaching $127.53. The company’s stock had a trading volume of 1,279,792 shares, compared to its average volume of 860,869. Motorola Solutions has a 1 year low of $89.18 and a 1 year high of $133.97. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of 24.53, a PEG ratio of 1.98 and a beta of 0.46.
In other Motorola Solutions news, CFO Gino A. Bonanotte sold 23,201 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $125.97, for a total value of $2,922,629.97. Following the sale, the chief financial officer now directly owns 41,019 shares of the company’s stock, valued at $5,167,163.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Daniel G. Pekofske sold 3,132 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $123.12, for a total value of $385,611.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 849,902 shares of company stock valued at $107,111,734. 2.20% of the stock is owned by company insiders.
MSI has been the topic of a number of recent research reports. Zacks Investment Research downgraded Motorola Solutions from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. Citigroup increased their price target on Motorola Solutions from $130.00 to $146.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Credit Suisse Group set a $137.00 price objective on Motorola Solutions and gave the company a “hold” rating in a research report on Friday, September 21st. Jefferies Financial Group raised their price objective on Motorola Solutions from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, August 28th. Finally, Gabelli downgraded Motorola Solutions from a “buy” rating to a “hold” rating in a research report on Monday, November 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $128.68.
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Motorola Solutions Company Profile
Motorola Solutions, Inc, together with its subsidiaries, provides mission-critical communication infrastructure, devices, accessories, software, and services in the United States, the United Kingdom, and internationally. The company operates in two segments, Products and Services. The Products segment offers a portfolio of infrastructure, devices, accessories, and software for government, public safety and first-responder agencies, municipalities, and commercial and industrial customers.
Further Reading: Stock Symbols and CUSIP Explained
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