Great Lakes Advisors LLC increased its position in shares of Johnson Controls International PLC (NYSE:JCI) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,500 shares of the company’s stock after buying an additional 21,172 shares during the quarter. Great Lakes Advisors LLC’s holdings in Johnson Controls International were worth $2,346,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Johnson Controls International in the 4th quarter worth approximately $188,299,000. Oregon Public Employees Retirement Fund raised its position in Johnson Controls International by 6,114.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,325,442 shares of the company’s stock worth $213,000 after purchasing an additional 6,223,662 shares during the last quarter. BlackRock Inc. raised its position in Johnson Controls International by 4.3% in the 4th quarter. BlackRock Inc. now owns 62,579,756 shares of the company’s stock worth $1,855,489,000 after purchasing an additional 2,602,524 shares during the last quarter. Millennium Management LLC raised its position in Johnson Controls International by 948.2% in the 4th quarter. Millennium Management LLC now owns 1,725,672 shares of the company’s stock worth $51,166,000 after purchasing an additional 1,561,043 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Johnson Controls International by 394.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,762,803 shares of the company’s stock worth $52,267,000 after purchasing an additional 1,406,522 shares during the last quarter. 91.05% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Rodney M. Rushing sold 29,728 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $39.03, for a total transaction of $1,160,283.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian J. Stief sold 126,158 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $39.09, for a total transaction of $4,931,516.22. Following the transaction, the vice president now directly owns 154,860 shares of the company’s stock, valued at approximately $6,053,477.40. The disclosure for this sale can be found here. Insiders have sold a total of 186,865 shares of company stock worth $7,308,261 in the last quarter. 0.50% of the stock is currently owned by company insiders.
Shares of JCI stock traded down $0.32 on Friday, reaching $39.95. The stock had a trading volume of 4,896,527 shares, compared to its average volume of 6,095,472. The stock has a market cap of $35.50 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 2.13 and a beta of 0.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 0.95. Johnson Controls International PLC has a 12 month low of $28.30 and a 12 month high of $40.33.
Johnson Controls International (NYSE:JCI) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.79 billion. Johnson Controls International had a net margin of 8.52% and a return on equity of 9.85%. The business’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Sell-side analysts predict that Johnson Controls International PLC will post 1.92 EPS for the current fiscal year.
Johnson Controls International announced that its board has authorized a stock repurchase plan on Thursday, March 7th that authorizes the company to repurchase $8.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 26% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, June 24th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.04 annualized dividend and a dividend yield of 2.60%. Johnson Controls International’s dividend payout ratio is 36.75%.
Several brokerages have commented on JCI. Credit Suisse Group began coverage on shares of Johnson Controls International in a research report on Monday, May 13th. They set a “neutral” rating and a $42.00 target price for the company. TheStreet raised shares of Johnson Controls International from a “c+” rating to a “b-” rating in a report on Thursday, May 9th. Citigroup began coverage on shares of Johnson Controls International in a report on Wednesday, June 5th. They issued a “buy” rating and a $45.00 price target for the company. Zacks Investment Research lowered shares of Johnson Controls International from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Barclays assumed coverage on shares of Johnson Controls International in a research note on Wednesday. They issued an “equal weight” rating and a $39.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $39.64.
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About Johnson Controls International
Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The company operates through Building Technologies & Solutions and Power Solutions segments. The company designs, sells, installs, and services heating, ventilating, and air conditioning systems, controls systems, integrated electronic security systems, and integrated fire detection and suppression systems for commercial, industrial, retail, small business, institutional, and governmental customers; and energy efficiency solutions and technical services, including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems, to non-residential building and industrial applications.
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