Johnson Controls International PLC (JCI) Holdings Lifted by Blair William & Co. IL
Blair William & Co. IL raised its stake in shares of Johnson Controls International PLC (NYSE:JCI) by 8.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,015 shares of the auto parts company’s stock after buying an additional 3,599 shares during the quarter. Blair William & Co. IL’s holdings in Johnson Controls International were worth $1,611,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of JCI. BlackRock Inc. grew its holdings in Johnson Controls International by 13.0% during the 3rd quarter. BlackRock Inc. now owns 59,977,232 shares of the auto parts company’s stock valued at $2,099,204,000 after buying an additional 6,907,864 shares in the last quarter. Parnassus Investments CA purchased a new position in shares of Johnson Controls International during the second quarter worth about $66,900,000. Bank of New York Mellon Corp grew its holdings in shares of Johnson Controls International by 11.1% during the third quarter. Bank of New York Mellon Corp now owns 7,074,686 shares of the auto parts company’s stock worth $247,614,000 after purchasing an additional 704,520 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Johnson Controls International by 12.8% during the third quarter. Dimensional Fund Advisors LP now owns 5,600,090 shares of the auto parts company’s stock worth $196,052,000 after purchasing an additional 635,357 shares in the last quarter. Finally, State Treasurer State of Michigan grew its holdings in shares of Johnson Controls International by 203.0% during the second quarter. State Treasurer State of Michigan now owns 826,287 shares of the auto parts company’s stock worth $27,639,000 after purchasing an additional 553,600 shares in the last quarter. 92.23% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on JCI shares. Morgan Stanley started coverage on Johnson Controls International in a report on Monday, August 20th. They set an “equal weight” rating and a $40.00 price objective for the company. Argus raised Johnson Controls International from a “hold” rating to a “buy” rating in a report on Tuesday, August 21st. TheStreet raised Johnson Controls International from a “c+” rating to a “b-” rating in a report on Friday, August 24th. UBS Group cut their price objective on Johnson Controls International from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, August 30th. Finally, JPMorgan Chase & Co. lowered Johnson Controls International from a “neutral” rating to an “underweight” rating and set a $44.00 price objective for the company. in a report on Friday, September 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $38.50.
Johnson Controls International (NYSE:JCI) last issued its earnings results on Thursday, November 8th. The auto parts company reported $0.93 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.93. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.28 billion. Johnson Controls International had a return on equity of 11.92% and a net margin of 6.89%. Johnson Controls International’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. Sell-side analysts anticipate that Johnson Controls International PLC will post 2.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Monday, December 17th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, December 14th. Johnson Controls International’s dividend payout ratio is currently 36.75%.
Johnson Controls International announced that its Board of Directors has initiated a stock buyback program on Thursday, November 8th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the auto parts company to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are usually an indication 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. It designs, sells, controls, installs heating, ventilating, and air conditioning systems. The company also provides residential air conditioning and heating systems, and industrial refrigeration products, as well as technical and energy management consulting services.
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