Should You Invest in Motorola Solutions (MSI)?

Wedgewood Partners, an investment management company, released its “Wedgewood Partners Large Cap Focused Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Wedgewood Composite’s net return was -2.4% compared to the Standard & Poor’s -3.3%, Russell 1000 Growth Index’s -3.1%, and Russell 1000 Value Index’s -3.2% return for the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Wedgewood Partners highlighted stocks like Motorola Solutions, Inc. (NYSE:MSI) in the third quarter 2023 investor letter. Headquartered in Chicago, Illinois, Motorola Solutions, Inc. (NYSE:MSI) is a public safety and enterprise security solutions provider. On October 20, 2023, Motorola Solutions, Inc. (NYSE:MSI) stock closed at $281.25 per share. One-month return of Motorola Solutions, Inc. (NYSE:MSI) was 1.26%, and its shares gained 24.24% of their value over the last 52 weeks. Motorola Solutions, Inc. (NYSE:MSI) has a market capitalization of $46.974 billion.

Wedgewood Partners made the following comment about Motorola Solutions, Inc. (NYSE:MSI) in its Q3 2023 investor letter:

“Motorola Solutions, Inc. (NYSE:MSI) contributed to performance during the quarter. Revenue grew a healthy +12%, while the Company’s adjusted operating profit jumped +29% on better pricing and easing supply chain costs. The Company’s backlog grew +6% as the funding environment for its customers, particularly in public safety, remains strong. We expect Motorola’s core public safety customers to continue adopting and upgrading their LMR (land mobile radio) infrastructure, while expanding into software and service solutions that drive higher productivity in the face of chronic labor shortages.”

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Motorola Solutions, Inc. (NYSE:MSI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Motorola Solutions, Inc. (NYSE:MSI) at the end of second quarter which was 37 in the previous quarter.

We discussed Motorola Solutions, Inc. (NYSE:MSI) in another article and shared Credit Suisse’ highest-conviction picks. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.