Here’s How Motorola Solutions (MSI) Performed in the Third Quarter

Wedgewood Partners, an investment management company, released its “Large Cap Focused Growth Fund” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -4.1% net, compared to a -4.9% return for the Standard & Poor’s Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wedgewood Partners discussed stocks like Motorola Solutions, Inc. (NYSE:MSI) in the Q3 2022 investor letter. Headquartered in Chicago, Illinois, Motorola Solutions, Inc. (NYSE:MSI) is a mission-critical communication and analytics provider. On October 13, 2022, Motorola Solutions, Inc. (NYSE:MSI) stock closed at $225.37 per share. One-month return of Motorola Solutions, Inc. (NYSE:MSI) was -5.78% and its shares lost 6.03% of their value over the last 52 weeks. Motorola Solutions, Inc. (NYSE:MSI) has a market capitalization of $37.611 billion.

Here is what Wedgewood Partners specifically said about Motorola Solutions, Inc. (NYSE:MSI) in its Q3 2022 investor letter:

“Motorola Solutions, Inc. (NYSE:MSI) contributed to performance during the quarter. The Company generated +9% revenue growth and reported +19% growth in its backlog during the quarter. Motorola offers critical services to its public safety and corporate customers and has operated Land Mobile Radio (LMR) networks for decades, which requires numerous software updates and constant cybersecurity support. This long-term work is often included into backlog. Further, the Company has amassed a suite of software offerings that manage public safety emergency and 911 call center workflows. We expect Motorola’s core public safety market to continue adopting these software and service solutions that drive higher productivity in the face of chronic labor shortages.”

Motorola Solutions, Inc. (NYSE:MSI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Motorola Solutions, Inc. (NYSE:MSI) at the end of the second quarter which was 34 in the previous quarter.

We discussed Motorola Solutions, Inc. (NYSE:MSI) in another article and shared Carillon Tower Advisers’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.