Trust Co. of Toledo NA OH reduced its stake in shares of Johnson Controls International plc (NYSE:JCI) by 2.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,229 shares of the company’s stock after selling 885 shares during the period. Trust Co. of Toledo NA OH’s holdings in Johnson Controls International were worth $1,804,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in JCI. Norges Bank acquired a new stake in Johnson Controls International during the 4th quarter worth about $295,934,000. Eaton Vance Management grew its position in Johnson Controls International by 442.1% during the 4th quarter. Eaton Vance Management now owns 2,182,168 shares of the company’s stock worth $101,667,000 after purchasing an additional 1,779,597 shares during the period. Amundi Pioneer Asset Management Inc. grew its position in Johnson Controls International by 41.2% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,975,605 shares of the company’s stock worth $278,397,000 after purchasing an additional 1,742,143 shares during the period. BlackRock Inc. grew its position in Johnson Controls International by 2.8% during the 4th quarter. BlackRock Inc. now owns 54,028,416 shares of the company’s stock worth $2,517,184,000 after purchasing an additional 1,472,593 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Johnson Controls International during the 4th quarter worth about $51,023,000. 89.61% of the stock is currently owned by institutional investors.
Shares of NYSE JCI traded up $0.10 during mid-day trading on Thursday, hitting $60.25. The company had a trading volume of 58,475 shares, compared to its average volume of 4,686,033. The company has a market capitalization of $43.35 billion, a PE ratio of 70.85, a price-to-earnings-growth ratio of 2.64 and a beta of 1.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 1.00. Johnson Controls International plc has a 1-year low of $26.23 and a 1-year high of $62.40. The business’s 50-day simple moving average is $58.81 and its 200 day simple moving average is $49.37.
Johnson Controls International announced that its board has approved a share buyback program on Thursday, March 11th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 16th. Shareholders of record on Monday, March 22nd will be paid a $0.27 dividend. The ex-dividend date is Friday, March 19th. This is a boost from Johnson Controls International’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 1.79%. Johnson Controls International’s dividend payout ratio (DPR) is currently 48.21%.
In other Johnson Controls International news, VP Robert M. Vanhimbergen sold 13,500 shares of the firm’s stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $57.67, for a total value of $778,545.00. Following the sale, the vice president now directly owns 46,923 shares in the company, valued at $2,706,049.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sreeganesh Ramaswamy sold 5,000 shares of the firm’s stock in a transaction on Wednesday, January 13th. The shares were sold at an average price of $52.00, for a total value of $260,000.00. Following the completion of the sale, the vice president now owns 66,483 shares in the company, valued at $3,457,116. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,500 shares of company stock worth $1,573,345. 0.61% of the stock is owned by insiders.
Several equities analysts recently weighed in on JCI shares. Deutsche Bank Aktiengesellschaft lowered Johnson Controls International from a “buy” rating to a “hold” rating in a research note on Monday, December 14th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell cut Johnson Controls International from a “buy” rating to a “neutral” rating and set a $51.00 target price for the company. in a report on Monday, December 14th. Barclays increased their target price on Johnson Controls International from $56.00 to $59.00 and gave the company an “equal weight” rating in a report on Tuesday. Royal Bank of Canada lowered Johnson Controls International from an “outperform” rating to a “sector perform” rating and set a $66.00 price target for the company. in a research report on Wednesday, March 31st. Finally, Atlantic Securities upgraded Johnson Controls International from a “neutral” rating to an “overweight” rating and set a $56.00 price target for the company in a research report on Wednesday, December 9th. Ten research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Johnson Controls International presently has an average rating of “Buy” and a consensus price target of $49.05.
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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