Bollard Group LLC lessened its holdings in Johnson Controls International PLC (NYSE:JCI) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,525 shares of the auto parts company’s stock after selling 7,348 shares during the quarter. Bollard Group LLC’s holdings in Johnson Controls International were worth $2,643,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. TRUE Private Wealth Advisors bought a new stake in shares of Johnson Controls International in the 3rd quarter worth about $131,000. FTB Advisors Inc. bought a new stake in shares of Johnson Controls International in the 2nd quarter worth about $138,000. Point72 Hong Kong Ltd bought a new stake in shares of Johnson Controls International in the 2nd quarter worth about $156,000. Synovus Financial Corp grew its holdings in shares of Johnson Controls International by 87.8% in the 3rd quarter. Synovus Financial Corp now owns 5,282 shares of the auto parts company’s stock worth $186,000 after purchasing an additional 2,469 shares during the last quarter. Finally, Comerica Securities Inc. bought a new stake in shares of Johnson Controls International in the 3rd quarter worth about $201,000. 92.39% of the stock is currently owned by hedge funds and other institutional investors.
JCI has been the topic of several analyst reports. Barclays upped their target price on shares of Johnson Controls International from $38.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Credit Suisse Group initiated coverage on shares of Johnson Controls International in a report on Friday, October 12th. They issued a “neutral” rating and a $37.00 target price on the stock. TheStreet raised shares of Johnson Controls International from a “c+” rating to a “b-” rating in a report on Friday, August 24th. Morgan Stanley set a $35.00 target price on shares of Johnson Controls International and gave the stock a “hold” rating in a report on Friday, November 2nd. Finally, Argus raised shares of Johnson Controls International from a “hold” rating to a “buy” rating in a report on Tuesday, August 21st. Four analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $39.15.
Johnson Controls International (NYSE:JCI) last issued its quarterly earnings results on Thursday, November 8th. The auto parts company reported $0.93 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.93. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.28 billion. Johnson Controls International had a net margin of 6.89% and a return on equity of 11.92%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. On average, sell-side analysts forecast that Johnson Controls International PLC will post 2.99 earnings per share for the current fiscal year.
Johnson Controls International declared that its Board of Directors has initiated a stock buyback program on Thursday, November 8th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
Johnson Controls International Profile
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. It designs, sells, controls, installs heating, ventilating, and air conditioning systems. The company also provides residential air conditioning and heating systems, and industrial refrigeration products, as well as technical and energy management consulting services.
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