LS Investment Advisors LLC cut its stake in shares of Johnson Controls International PLC (NYSE:JCI) by 1.6% in the first quarter, Holdings Channel reports. The institutional investor owned 36,952 shares of the company’s stock after selling 604 shares during the quarter. LS Investment Advisors LLC’s holdings in Johnson Controls International were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Scotia Capital Inc. increased its stake in shares of Johnson Controls International by 4.5% in the 4th quarter. Scotia Capital Inc. now owns 6,771 shares of the company’s stock worth $201,000 after purchasing an additional 294 shares in the last quarter. Moody National Bank Trust Division increased its stake in shares of Johnson Controls International by 34.7% in the 1st quarter. Moody National Bank Trust Division now owns 1,142 shares of the company’s stock worth $42,000 after purchasing an additional 294 shares in the last quarter. HCR Wealth Advisors increased its stake in shares of Johnson Controls International by 1.7% in the 4th quarter. HCR Wealth Advisors now owns 17,984 shares of the company’s stock worth $533,000 after purchasing an additional 300 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of Johnson Controls International by 4.4% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 7,251 shares of the company’s stock worth $215,000 after purchasing an additional 306 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Johnson Controls International by 26.3% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,600 shares of the company’s stock worth $47,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.
Shares of JCI stock opened at $37.19 on Friday. Johnson Controls International PLC has a 52-week low of $28.30 and a 52-week high of $40.33. The company has a quick ratio of 0.85, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $33.94 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.87 and a beta of 1.07.
Johnson Controls International announced that its Board of Directors has initiated a share buyback program on Thursday, March 7th that allows the company to repurchase $8.50 billion in shares. This repurchase authorization allows the company to buy up to 26% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 18th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $1.04 dividend on an annualized basis and a yield of 2.80%. Johnson Controls International’s payout ratio is presently 36.75%.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Johnson Controls International from a “strong sell” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, March 19th. Wells Fargo & Co upgraded Johnson Controls International from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Monday, March 18th. Cowen restated a “hold” rating and issued a $32.00 price objective (down from $38.00) on shares of Johnson Controls International in a research note on Friday, February 15th. ValuEngine upgraded Johnson Controls International from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Finally, OTR Global lowered Johnson Controls International to a “positive” rating in a research note on Friday, January 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Johnson Controls International presently has an average rating of “Hold” and a consensus price target of $38.73.
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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. 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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