Independent Advisor Alliance decreased its position in shares of Johnson Controls International PLC (NYSE:JCI) by 17.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,891 shares of the company’s stock after selling 1,254 shares during the quarter. Independent Advisor Alliance’s holdings in Johnson Controls International were worth $218,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Johnson Controls International by 5.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,359 shares of the company’s stock valued at $1,971,000 after buying an additional 2,948 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its holdings in Johnson Controls International by 1.1% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 63,377 shares of the company’s stock valued at $2,341,000 after buying an additional 684 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Johnson Controls International by 2.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 76,597 shares of the company’s stock valued at $2,830,000 after buying an additional 1,642 shares during the period. Trillium Asset Management LLC raised its holdings 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 buying an additional 9,863 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in Johnson Controls International by 3.2% in the 1st quarter. Moors & Cabot Inc. now owns 18,569 shares of the company’s stock valued at $684,000 after buying an additional 572 shares during the period. 91.94% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Jeffrey M. Williams sold 4,166 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $39.50, for a total transaction of $164,557.00. Following the completion of the sale, the vice president now owns 194,406 shares in the company, valued at $7,679,037. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rodney M. Rushing sold 29,728 shares of the company’s 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 valued at $6,861,650 in the last 90 days. Company insiders own 0.50% of the company’s stock.
Johnson Controls International (NYSE:JCI) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The firm had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.79 billion. Johnson Controls International had a return on equity of 9.85% and a net margin of 8.52%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 earnings per share. On average, sell-side analysts predict that Johnson Controls International PLC will post 1.93 EPS for the current fiscal year.
Johnson Controls International announced that its board has approved a stock buyback program on Thursday, March 7th that authorizes the company to buyback $8.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 26% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Johnson Controls International from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Credit Suisse Group began coverage on Johnson Controls International in a research report on Monday, May 13th. They set a “neutral” rating and a $42.00 price objective for the company. TheStreet raised Johnson Controls International from a “c+” rating to a “b-” rating in a research report on Thursday, May 9th. 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. Finally, Cowen reissued a “hold” rating and set a $32.00 price objective (down from $38.00) on shares of Johnson Controls International in a research report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $39.45.
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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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