Stock price when the opinion was issued
Today, the company's more about keeping the city safe and connected. 2/3 of company revenue comes from radios, video surveillance, and central-hardware systems. Rest comes from the software side with long-term contracts, strong profit margins, and reliable cashflow. Likes this recurring revenue.
Recent acquisition brings in advanced wireless tech, expanding reach into higher-growth areas such as defense and automation. Q1 earnings beat, raised guidance for 2025. Huge backlog. Margins expanding. Steady earnings growth ahead despite tariff noise. Will be volatile, but upside potential of almost 20%. Yield is 1.03%.
Fully intends to continue holding. Cash cow is radio communications, which continue to grow at mid-single digit rates. Transitioning from hardware to software, in particular video security cameras, which is a small part of the business growing 20%.