We like Motorola Solutions’ long-term prospects as it’s a key supplier of vital communications gear to police, fire and other first responders.
Its high order backlog also cuts your risk and taken together, all these factors make this one of our top technology picks.
The stock trades at 26.3 times the company’s 2023 earnings forecast.
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MOTOROLA SOLUTIONS INC. (New York symbol MSI; www.motorolasolutions.com) makes communications equipment such as two-way radios for police and fire vehicles, as well as high-definition surveillance systems. It also makes software that helps governments manage their emergency response call centres.
Motorola tends to fuel its growth with acquisitions. However, it cuts the risk of this strategy by focusing on smaller firms that enhance its technology or its presence in certain markets.
In addition to acquisitions, Motorola continues to invest heavily in the development of new products. Its research spending in the latest quarter was a high 9.7% of its revenue.
The stock has gained over 40% in the past year and recently hit a new all-time high of $299.43. That’s due to stronger demand for its products and improving supplies of chips and other components.
Growth Stocks: Revenue, earnings and the dividend payout all rose sharply for Motorola Solutions
Motorola’s revenue in the first quarter of 2023 rose 14.7%, to $2.17 billion from $1.89 billion a year earlier. Earnings in the quarter also jumped 30.6%, to $2.22 a share from $1.70.
The company’s backlog at the end of the quarter was $14.1 billion, up 5.2% from a year earlier. That should lift its 2023 earnings by about 9% to $11.28 a share. The stock trades at a reasonable 26.3 times that estimate.
Motorola also increased your quarterly dividend by 11.4%. Starting with the January 2023 payment, investors began receiving $0.88 a share instead of $0.79. The $3.52 dividend yields 1.2%.
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The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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