Cypress Capital Management LLC reduced its position in Johnson Controls International plc (NYSE:JCI) by 2.5% in the 1st quarter, Holdings Channel reports. The fund owned 181,700 shares of the company’s stock after selling 4,725 shares during the period. Johnson Controls International makes up about 1.5% of Cypress Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. Cypress Capital Management LLC’s holdings in Johnson Controls International were worth $10,842,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in JCI. Atlas Capital Advisors LLC purchased a new stake in Johnson Controls International in the 1st quarter worth approximately $25,000. Better Money Decisions LLC purchased a new stake in Johnson Controls International in the 1st quarter worth approximately $27,000. Creative Financial Designs Inc. ADV grew its stake in Johnson Controls International by 813.7% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 466 shares of the company’s stock worth $28,000 after acquiring an additional 415 shares during the period. Valeo Financial Advisors LLC grew its stake in Johnson Controls International by 86.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 478 shares of the company’s stock worth $29,000 after acquiring an additional 221 shares during the period. Finally, Glassman Wealth Services purchased a new stake in shares of Johnson Controls International during the 4th quarter valued at $30,000. 88.38% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on JCI. UBS Group raised shares of Johnson Controls International to a “buy” rating and boosted their price objective for the company from $57.00 to $70.00 in a research note on Thursday, April 22nd. Royal Bank of Canada cut shares of Johnson Controls International from an “outperform” rating to a “sector perform” rating and set a $66.00 price objective for the company. in a research note on Wednesday, March 31st. Barclays raised shares of Johnson Controls International from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $67.00 to $75.00 in a research note on Wednesday, May 26th. Robert W. Baird boosted their price objective on shares of Johnson Controls International from $56.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, April 13th. Finally, Credit Suisse Group boosted their price objective on shares of Johnson Controls International from $66.00 to $75.00 and gave the company an “outperform” rating in a research note on Monday. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $57.94.
Johnson Controls International (NYSE:JCI) last issued its quarterly earnings data on Thursday, April 29th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. Johnson Controls International had a net margin of 4.74% and a return on equity of 9.31%. The firm had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, research analysts expect that Johnson Controls International plc will post 2.63 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 16th. Shareholders of record on Monday, June 21st will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, June 18th. This represents a $1.08 dividend on an annualized basis and a yield of 1.62%. Johnson Controls International’s dividend payout ratio is currently 48.21%.
Johnson Controls International announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 11th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other news, VP Jeffrey M. Williams sold 19,196 shares of the company’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $66.08, for a total value of $1,268,471.68. Following the sale, the vice president now owns 84,228 shares in the company, valued at approximately $5,565,786.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO George Oliver sold 176,754 shares of the company’s stock in a transaction dated Thursday, June 3rd. The shares were sold at an average price of $66.36, for a total transaction of $11,729,395.44. Following the completion of the sale, the chief executive officer now owns 1,315,351 shares in the company, valued at approximately $87,286,692.36. The disclosure for this sale can be found here. Insiders sold a total of 235,950 shares of company stock worth $15,631,067 in the last quarter. 0.76% of the stock is currently owned by company insiders.
About Johnson Controls International
Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. It operates through Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products segments. The company designs, sells, installs, and services heating, ventilating, air conditioning, controls, refrigeration, integrated electronic security, 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, as well as data-driven smart building solutions to non-residential building and industrial applications.
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