M&T Bank Corp reduced its position in Johnson Controls International PLC (NYSE:JCI) by 1.5% in the 2nd quarter, Holdings Channel reports. The firm owned 647,553 shares of the company’s stock after selling 9,645 shares during the quarter. M&T Bank Corp’s holdings in Johnson Controls International were worth $26,750,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its stake in Johnson Controls International by 68.4% in the 1st quarter. Teacher Retirement System of Texas now owns 1,011,447 shares of the company’s stock valued at $37,363,000 after purchasing an additional 410,863 shares during the last quarter. Bank of Montreal Can raised its stake in Johnson Controls International by 3.6% in the 2nd quarter. Bank of Montreal Can now owns 1,271,118 shares of the company’s stock valued at $52,509,000 after purchasing an additional 44,072 shares during the last quarter. Redpoint Investment Management Pty Ltd raised its stake in Johnson Controls International by 17.7% in the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 69,331 shares of the company’s stock valued at $2,864,000 after purchasing an additional 10,420 shares during the last quarter. Trillium Asset Management LLC raised its stake in Johnson Controls International by 6.6% in the 1st quarter. Trillium Asset Management LLC now owns 159,591 shares of the company’s stock valued at $5,895,000 after purchasing an additional 9,863 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in Johnson Controls International by 11.6% in the 1st quarter. MML Investors Services LLC now owns 22,717 shares of the company’s stock valued at $839,000 after purchasing an additional 2,357 shares during the last quarter. 91.65% of the stock is owned by hedge funds and other institutional investors.
JCI has been the subject of several recent research reports. Credit Suisse Group initiated coverage on Johnson Controls International in a research note on Monday, May 13th. They issued a “neutral” rating and a $42.00 price objective for the company. Barclays began coverage on Johnson Controls International in a research note on Wednesday, June 12th. They issued an “equal weight” rating and a $39.00 target price for the company. JPMorgan Chase & Co. raised Johnson Controls International from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $31.00 to $35.00 in a research note on Monday, July 8th. Zacks Investment Research raised Johnson Controls International from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Monday, July 1st. Finally, Citigroup began coverage on Johnson Controls International in a research note on Wednesday, June 5th. They issued a “buy” rating and a $45.00 target price for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $39.30.
Shares of JCI traded up $0.36 during midday trading on Wednesday, reaching $42.37. The company had a trading volume of 290,486 shares, compared to its average volume of 4,229,597. Johnson Controls International PLC has a 1-year low of $28.30 and a 1-year high of $43.22. The stock has a market cap of $33.80 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.28 and a beta of 0.93. The firm has a 50 day simple moving average of $41.89 and a 200-day simple moving average of $38.98. The company has a quick ratio of 1.19, a current ratio of 1.41 and a debt-to-equity ratio of 0.32.
Johnson Controls International (NYSE:JCI) last issued its earnings results on Wednesday, July 31st. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Johnson Controls International had a return on equity of 9.02% and a net margin of 22.38%. The business had revenue of $6.45 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period last year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson Controls International PLC will post 1.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.45%. Johnson Controls International’s dividend payout ratio is presently 36.75%.
In other Johnson Controls International news, Director Gretchen R. Haggerty purchased 6,220 shares of the stock in a transaction dated Monday, August 26th. The stock was acquired at an average cost of $41.40 per share, for a total transaction of $257,508.00. Following the acquisition, the director now owns 12,860 shares in the company, valued at approximately $532,404. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jeffrey M. Williams sold 70,762 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.59, for a total value of $2,942,991.58. Following the transaction, the vice president now owns 234,236 shares of the company’s stock, valued at $9,741,875.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,349 shares of company stock valued at $4,432,947. Company insiders own 0.50% of the company’s stock.
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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