Suntrust Banks Inc. decreased its position in Johnson Controls International PLC (NYSE:JCI) by 25.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,978 shares of the company’s stock after selling 11,829 shares during the quarter. Suntrust Banks Inc.’s holdings in Johnson Controls International were worth $1,037,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. D. E. Shaw & Co. Inc. grew its holdings in shares of Johnson Controls International by 394.8% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,762,803 shares of the company’s stock valued at $52,267,000 after buying an additional 1,406,522 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in Johnson Controls International during the fourth quarter valued at $393,000. Weiss Multi Strategy Advisers LLC acquired a new stake in Johnson Controls International during the fourth quarter valued at $3,380,000. Stone Ridge Asset Management LLC acquired a new stake in Johnson Controls International during the fourth quarter valued at $587,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in 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 purchasing an additional 306 shares during the last quarter. 90.56% of the stock is currently owned by hedge funds and other institutional investors.
JCI has been the subject of a number of research reports. Zacks Investment Research cut Johnson Controls International from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. OTR Global cut Johnson Controls International to a “positive” rating in a research report on Friday, January 18th. ValuEngine raised Johnson Controls International from a “sell” rating to a “hold” rating in a research report on Friday, February 8th. Cowen reissued a “hold” rating and set a $32.00 price objective (down previously from $38.00) on shares of Johnson Controls International in a research report on Friday, February 15th. Finally, Wells Fargo & Co raised 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 report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.73.
Johnson Controls International (NYSE:JCI) last released its quarterly earnings data on Friday, February 1st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $5.46 billion for the quarter, compared to analyst estimates of $5.47 billion. Johnson Controls International had a return on equity of 10.73% and a net margin of 7.77%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Sell-side analysts forecast that Johnson Controls International PLC will post 1.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Monday, March 18th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, March 15th. Johnson Controls International’s payout ratio is currently 36.75%.
Johnson Controls International declared that its Board of Directors has approved a stock repurchase program on Thursday, March 7th that allows the company to repurchase $8.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 26% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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About Johnson Controls International
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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