First Allied Advisory Services Inc. reduced its stake in Johnson Controls International PLC (NYSE:JCI) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,901 shares of the company’s stock after selling 569 shares during the period. First Allied Advisory Services Inc.’s holdings in Johnson Controls International were worth $662,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. OLD National Bancorp IN bought a new position in Johnson Controls International during the first quarter worth about $230,000. Goelzer Investment Management Inc. lifted its holdings in Johnson Controls International by 9.2% during the first quarter. Goelzer Investment Management Inc. now owns 131,870 shares of the company’s stock worth $4,871,000 after acquiring an additional 11,122 shares in the last quarter. Stephens Inc. AR lifted its holdings in Johnson Controls International by 4.0% during the first quarter. Stephens Inc. AR now owns 133,175 shares of the company’s stock worth $4,919,000 after acquiring an additional 5,168 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Johnson Controls International by 16.2% during the first quarter. Victory Capital Management Inc. now owns 409,884 shares of the company’s stock worth $15,141,000 after acquiring an additional 57,169 shares in the last quarter. Finally, Lafayette Investments Inc. lifted its holdings in Johnson Controls International by 1.3% during the first quarter. Lafayette Investments Inc. now owns 134,830 shares of the company’s stock worth $4,981,000 after acquiring an additional 1,737 shares in the last quarter. Institutional investors and hedge funds own 91.94% of the company’s stock.
JCI opened at $39.09 on Tuesday. Johnson Controls International PLC has a 1 year low of $28.30 and a 1 year high of $40.33. The stock has a market capitalization of $34.92 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 2.09 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.
Johnson Controls International announced that its board has initiated a share repurchase plan on Thursday, March 7th that authorizes the company to repurchase $8.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 26% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded Johnson Controls International from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Tuesday, May 7th. Credit Suisse Group assumed coverage on Johnson Controls International in a report on Monday, May 13th. They set a “neutral” rating and a $42.00 target price on the stock. TheStreet upgraded Johnson Controls International from a “c+” rating to a “b-” rating in a report on Thursday, May 9th. Wells Fargo & Co upgraded Johnson Controls International from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Monday, March 18th. Finally, Cowen reiterated a “hold” rating and set a $32.00 target price (down from $38.00) on shares of Johnson Controls International in a report on Friday, February 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $39.45.
In other Johnson Controls International news, VP Brian J. Stief sold 126,158 shares of Johnson Controls International stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $39.09, for a total value of $4,931,516.22. Following the sale, the vice president now owns 154,860 shares of the company’s stock, valued at approximately $6,053,477.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rodney M. Rushing sold 29,728 shares of Johnson Controls International stock in a transaction dated Wednesday, May 1st. The shares were 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 sold a total of 175,384 shares of company stock worth $6,861,650 in the last three months. Company insiders own 0.50% of the company’s stock.
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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