Kentucky Retirement Systems bought a new position in shares of Johnson Controls International PLC (NYSE:JCI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 40,195 shares of the company’s stock, valued at approximately $1,192,000.
A number of other institutional investors have also recently added to or reduced their stakes in JCI. Scotia Capital Inc. raised its position in shares of Johnson Controls International by 4.5% during the fourth quarter. Scotia Capital Inc. now owns 6,771 shares of the company’s stock valued at $201,000 after buying an additional 294 shares during the last quarter. HCR Wealth Advisors raised its position in shares of Johnson Controls International by 1.7% during the fourth quarter. HCR Wealth Advisors now owns 17,984 shares of the company’s stock valued at $533,000 after buying an additional 300 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of Johnson Controls International by 4.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 7,251 shares of the company’s stock valued at $215,000 after buying an additional 306 shares during the last quarter. Private Capital Group LLC raised its position in shares of Johnson Controls International by 15.8% during the fourth quarter. Private Capital Group LLC now owns 2,653 shares of the company’s stock valued at $79,000 after buying an additional 362 shares during the last quarter. Finally, Citizens Financial Group Inc RI raised its position in Johnson Controls International by 18.8% in the fourth quarter. Citizens Financial Group Inc RI now owns 2,349 shares of the company’s stock worth $70,000 after purchasing an additional 372 shares in the last quarter. 90.56% of the stock is owned by hedge funds and other institutional investors.
Johnson Controls International stock traded up $0.16 during midday trading on Friday, hitting $36.75. The company’s stock had a trading volume of 2,119,937 shares, compared to its average volume of 5,129,463. The stock has a market capitalization of $33.54 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. The company has a quick ratio of 0.85, a current ratio of 1.03 and a debt-to-equity ratio of 0.45. Johnson Controls International PLC has a 1-year low of $28.30 and a 1-year high of $40.33.
Johnson Controls International declared that its board has initiated a share buyback plan on Thursday, March 7th that authorizes the company to buyback $8.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 26% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 18th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, March 15th. Johnson Controls International’s dividend payout ratio is currently 36.75%.
Several research firms recently issued reports on JCI. Zacks Investment Research lowered shares of Johnson Controls International from a “buy” rating to a “hold” rating in a research report on Monday, April 8th. Wells Fargo & Co raised shares of Johnson Controls International from a “market perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Monday, March 18th. Cowen reissued a “hold” rating and issued a $32.00 price target (down previously from $38.00) on shares of Johnson Controls International in a research report on Friday, February 15th. ValuEngine raised shares of Johnson Controls International from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Finally, OTR Global lowered shares of Johnson Controls International to a “positive” rating in a research report on Friday, January 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $38.73.
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Johnson Controls International Company 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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