There is a 'sintered' bushing at each end of the armature shaft .
A sintered bearing is a powder or granulated metal that is pressed into the bushing shape .
Another name for this bushing/bearing, is an oilite bearing .
To lubricate them, you 'soak' them in oil, the oil gets trapped in the spaces between the powder/ granulated metal and seeps out over time and lubricates the surface between the bushing/bearing and the shaft .
With these bikes going on 30 years old, it's a good bet that there isn't any oil left in these bearings .
The pivot points on the assembly that's moves the starter gear also needs to be lubricated with a high drip point grease, one that has a high melting point, it also has to be a non-conductive grease, so it doesn't cause any electrical issues if it gets thrown out in the area of the brushes .
The solenoid has a movable core, it has a large copper washer that completes the circuit inside the starter to provide a path for the power to get to the brushes .
Not uncommon to have 200+ amps across this contact area during starting, the mating surfaces get pitted and sometimes develop high spots that limit the amount of contact area and reducing the current flow to the brushes/armature .
These areas need to be filed smooth again, or replaced if they are in really bad shape, when disassembled and inspected .
Also, how old is you battery ?
Motorcycle batteries aren't the most robust batteries and don't like to be run low on electrolyte, if it is a serviceable type battery .