Dimensional Fund Advisors LP increased its holdings in Johnson Controls International PLC (NYSE:JCI) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,279,025 shares of the company’s stock after acquiring an additional 678,935 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Johnson Controls International were worth $186,188,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in JCI. Oregon Public Employees Retirement Fund lifted its stake in shares of Johnson Controls International by 6,114.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,325,442 shares of the company’s stock worth $213,000 after acquiring an additional 6,223,662 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Johnson Controls International by 4.3% in the fourth quarter. BlackRock Inc. now owns 62,579,756 shares of the company’s stock worth $1,855,489,000 after acquiring an additional 2,602,524 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Johnson Controls International in the fourth quarter worth about $36,279,000. Vanguard Group Inc lifted its stake in shares of Johnson Controls International by 1.3% in the third quarter. Vanguard Group Inc now owns 67,459,746 shares of the company’s stock worth $2,361,091,000 after acquiring an additional 857,281 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its stake in shares of Johnson Controls International by 22.0% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,124,835 shares of the company’s stock worth $122,301,000 after acquiring an additional 743,349 shares in the last quarter. Institutional investors and hedge funds own 90.65% of the company’s stock.
Shares of NYSE JCI opened at $39.59 on Friday. Johnson Controls International PLC has a 52-week low of $28.30 and a 52-week high of $40.33. The company has a market cap of $35.94 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 0.95.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Monday, March 18th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, March 15th. Johnson Controls International’s payout ratio is currently 36.75%.
Johnson Controls International announced that its Board of Directors has authorized a share repurchase program on Thursday, March 7th that authorizes the company to buyback $8.50 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 26% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.
JCI has been the topic of several recent analyst reports. OTR Global cut Johnson Controls International to a “positive” rating in a research note on Friday, January 18th. Wells Fargo & Co upgraded Johnson Controls International from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Monday, March 18th. ValuEngine upgraded Johnson Controls International from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Cowen restated a “hold” rating and set a $32.00 price objective (down previously from $38.00) on shares of Johnson Controls International in a research note on Friday, February 15th. Finally, Zacks Investment Research cut Johnson Controls International from a “buy” rating to a “hold” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $39.00.
In other news, VP Robert M. Vanhimbergen sold 3,907 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $39.33, for a total transaction of $153,662.31. Following the sale, the vice president now directly owns 26,094 shares in the company, valued at approximately $1,026,277.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rodney M. Rushing sold 29,728 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $39.03, for a total value of $1,160,283.84. The disclosure for this sale can be found here. Insiders have sold 175,384 shares of company stock worth $6,861,650 in the last 90 days. 0.50% of the stock is currently owned by insiders.
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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