State of Michigan Retirement System boosted its stake in Johnson Controls International PLC (NYSE:JCI) by 7.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,985 shares of the company’s stock after buying an additional 13,098 shares during the period. State of Michigan Retirement System’s holdings in Johnson Controls International were worth $6,486,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of JCI. Guggenheim Capital LLC raised its stake in Johnson Controls International by 65.2% during the 4th quarter. Guggenheim Capital LLC now owns 208,569 shares of the company’s stock valued at $8,490,000 after acquiring an additional 82,285 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Johnson Controls International by 27.0% during the fourth quarter. Macquarie Group Ltd. now owns 516,611 shares of the company’s stock valued at $21,032,000 after purchasing an additional 109,744 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Johnson Controls International in the fourth quarter worth about $1,216,000. State of Alaska Department of Revenue grew its position in Johnson Controls International by 6.7% in the 1st quarter. State of Alaska Department of Revenue now owns 221,395 shares of the company’s stock valued at $5,968,000 after buying an additional 13,981 shares in the last quarter. Finally, IBM Retirement Fund increased its stake in Johnson Controls International by 48.5% during the 1st quarter. IBM Retirement Fund now owns 20,780 shares of the company’s stock valued at $560,000 after buying an additional 6,785 shares during the period. Institutional investors own 88.44% of the company’s stock.
In related news, CEO George Oliver sold 22,620 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $34.17, for a total transaction of $772,925.40. 0.61% of the stock is owned by insiders.
JCI stock opened at $38.48 on Friday. The company has a 50 day moving average price of $35.11 and a 200 day moving average price of $34.04. Johnson Controls International PLC has a fifty-two week low of $22.77 and a fifty-two week high of $44.82. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.05 and a quick ratio of 0.83. The stock has a market capitalization of $28.62 billion, a PE ratio of 6.36, a price-to-earnings-growth ratio of 2.49 and a beta of 1.07.
Johnson Controls International (NYSE:JCI) last released its earnings results on Friday, July 31st. The company reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.19. The company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.11 billion. Johnson Controls International had a return on equity of 8.81% and a net margin of 21.80%. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.65 EPS. As a group, equities analysts expect that Johnson Controls International PLC will post 2.18 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Monday, June 22nd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Friday, June 19th. Johnson Controls International’s dividend payout ratio (DPR) is presently 53.06%.
A number of brokerages recently issued reports on JCI. Deutsche Bank decreased their target price on Johnson Controls International from $48.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Morgan Stanley lifted their target price on Johnson Controls International from $29.00 to $31.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Vertical Research raised shares of Johnson Controls International from a “hold” rating to a “buy” rating in a research note on Wednesday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of Johnson Controls International from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Finally, William Blair reiterated a “market perform” rating on shares of Johnson Controls International in a report on Monday, May 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Johnson Controls International presently has an average rating of “Hold” and an average target price of $34.50.
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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