Johnson Controls International PLC (JCI) Shares Bought by Mirae Asset Global Investments Co. Ltd.
Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Johnson Controls International PLC (NYSE:JCI) by 110.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,627 shares of the auto parts company’s stock after purchasing an additional 66,002 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Johnson Controls International were worth $4,397,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of JCI. Sigma Planning Corp lifted its position in Johnson Controls International by 9.6% during the second quarter. Sigma Planning Corp now owns 20,685 shares of the auto parts company’s stock valued at $692,000 after purchasing an additional 1,820 shares during the last quarter. Jennison Associates LLC lifted its position in Johnson Controls International by 5.6% during the second quarter. Jennison Associates LLC now owns 1,397,341 shares of the auto parts company’s stock valued at $46,741,000 after purchasing an additional 73,548 shares during the last quarter. Barings LLC bought a new stake in Johnson Controls International during the second quarter valued at approximately $456,000. KBC Group NV lifted its position in Johnson Controls International by 22.9% during the second quarter. KBC Group NV now owns 160,576 shares of the auto parts company’s stock valued at $5,371,000 after purchasing an additional 29,896 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its position in Johnson Controls International by 3.3% during the second quarter. State of Wisconsin Investment Board now owns 858,463 shares of the auto parts company’s stock valued at $28,716,000 after purchasing an additional 27,821 shares during the last quarter. Institutional investors own 92.23% of the company’s stock.
JCI has been the subject of several research analyst reports. Argus upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. TheStreet lowered shares of Johnson Controls International from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. Credit Suisse Group initiated coverage on shares of Johnson Controls International in a research report on Friday, October 12th. They set a “neutral” rating and a $37.00 target price for the company. Wells Fargo & Co dropped their target price on shares of Johnson Controls International from $41.00 to $38.00 and set a “market perform” rating for the company in a research report on Friday, September 28th. Finally, Morgan Stanley set a $35.00 target price on shares of Johnson Controls International and gave the company a “hold” rating in a research report on Friday, November 2nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Johnson Controls International presently has a consensus rating of “Hold” and an average price target of $38.50.
Johnson Controls International (NYSE:JCI) last announced its quarterly earnings data on Thursday, November 8th. The auto parts company reported $0.93 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.93. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.28 billion. Johnson Controls International had a net margin of 6.89% and a return on equity of 11.92%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 EPS. Equities research analysts expect that Johnson Controls International PLC will post 2.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Monday, December 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.18%. Johnson Controls International’s payout ratio is 36.75%.
Johnson Controls International announced that its Board of Directors has authorized a share buyback program on Thursday, November 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the auto parts company to purchase up to 3.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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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. 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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