Retirement Stock Portfolio: 12 Safe Tech Stocks To Consider

7. Motorola Solutions, Inc. (NYSE:MSI)

Beta Value: 0.98

Dividend Yield: 0.84%

Number of Hedge Fund Holders: 42

Motorola Solutions, Inc. (NYSE:MSI) is a U.S.-based company that provides hardware and software products for security, communications, and other related applications.

The company has shown impressive growth in its latest financial results, with products and systems integration revenue rising by 15% and operating earnings jumping by 56%. This strong performance led to an upward revision of its full-year revenue and earnings guidance. Earnings per share increased by 22%, while the company generated $180 million in operating cash flow. Additionally, Motorola Solutions, Inc. (NYSE:MSI) ended the quarter with a substantial $14 billion backlog and is expecting around 8% revenue growth for the year, with non-GAAP EPS projected between $13.22 and $13.30. The company also invested over $250 million in acquisitions and plans to dedicate approximately $850 million to R&D in 2023.

In September, Jefferies reiterated a Buy rating on the MSI stock, raising the price target from $460 to $510. The firm emphasized the company’s growth prospects in Land Mobile Radio (LMR) services, particularly the high-margin potential of new offerings like cyber protection and LMR network monitoring.

As of Q2 2024, 42 hedge funds in Insider Monkey’s database held shares of Motorola Solutions, Inc. (NYSE:MSI). The largest investor in the following quarter was William B. Gray’s Orbis Investment Management, with a $381 million stake in the company.

Wedgewood Partners stated the following regarding Motorola Solutions, Inc. (NYSE:MSI) in its Q2 2024 investor letter:

“Motorola Solutions, Inc. (NYSE:MSI) was a contributor to performance as the Company continued its steady execution with +10% sales growth and +20% operating earnings growth. Motorola also continues to grow its backlog due to its competively advantaged core land mobile radio (LMR) business is a critical long-term solution for emergency services around the globe. The technology behind LMR is relatively simple compared to current 5G wireless standards, but it is an extremely robust implementation that must withstand regular and even mega catastrophes to guarantee uptime to the emergency services that depend on it for communications. Motorola has unmatched competitive positioning in this core business and should be able to continue to expand value-added service offerings to LMR and drive attractive long-term growth.”