MOTOROLA SOLUTIONS INC. $68 (www.motorolasolutions.com) has completed its offer to buy back $2.0 billion worth of its shares. Under the plan, it repurchased 30.1 million shares, or 14.5% of the total outstanding, for $66.50 each. Buybacks raise earnings per share and other per-share calculations and give the remaining shareholders a larger stake in the company. However, demand for Motorola Solutions’ specialized communications gear, such as radios for police and fire vehicles, remains weak. It also gets a third of its sales from outside of North America, and the higher U.S. dollar is slowing its growth. Hold.
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