Meritage Portfolio Management Takes Position in Johnson Controls International plc (NYSE:JCI)

Meritage Portfolio Management purchased a new position in Johnson Controls International plc (NYSE:JCI) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 47,862 shares of the company’s stock, valued at approximately $2,759,000.

A number of other hedge funds have also recently modified their holdings of the company. Invesco Ltd. raised its position in Johnson Controls International by 4.7% during the 3rd quarter. Invesco Ltd. now owns 13,063,227 shares of the company’s stock valued at $695,094,000 after purchasing an additional 588,724 shares during the last quarter. Northern Trust Corp increased its position in shares of Johnson Controls International by 6.2% during the third quarter. Northern Trust Corp now owns 7,065,473 shares of the company’s stock valued at $375,954,000 after buying an additional 415,056 shares during the period. Bank of New York Mellon Corp lifted its holdings in Johnson Controls International by 3.3% in the third quarter. Bank of New York Mellon Corp now owns 6,155,879 shares of the company’s stock worth $327,554,000 after buying an additional 197,770 shares during the period. abrdn plc grew its holdings in shares of Johnson Controls International by 1.7% during the 3rd quarter. abrdn plc now owns 4,638,378 shares of the company’s stock worth $246,808,000 after acquiring an additional 79,543 shares during the period. Finally, Raymond James & Associates raised its position in shares of Johnson Controls International by 5.2% in the 4th quarter. Raymond James & Associates now owns 3,763,779 shares of the company’s stock worth $216,944,000 after acquiring an additional 186,455 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Melius Research restated a “hold” rating on shares of Johnson Controls International in a report on Tuesday, January 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $60.00 target price (down from $65.00) on shares of Johnson Controls International in a research note on Wednesday, January 31st. Wells Fargo & Company upped their price target on shares of Johnson Controls International from $64.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. StockNews.com downgraded shares of Johnson Controls International from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Finally, HSBC lowered shares of Johnson Controls International from a “buy” rating to a “hold” rating and set a $60.00 price objective for the company. in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $64.50.

Johnson Controls International Stock Down 0.2 %

Shares of NYSE JCI traded down $0.16 during trading hours on Thursday, hitting $64.45. 5,004,658 shares of the stock were exchanged, compared to its average volume of 5,530,883. Johnson Controls International plc has a 12 month low of $47.90 and a 12 month high of $70.43. The firm has a fifty day moving average price of $62.49 and a 200-day moving average price of $56.73. The company has a quick ratio of 0.73, a current ratio of 0.97 and a debt-to-equity ratio of 0.45. The company has a market cap of $43.92 billion, a PE ratio of 21.04, a PEG ratio of 1.64 and a beta of 1.24.

Johnson Controls International (NYSE:JCI) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $6.09 billion for the quarter, compared to analyst estimates of $6.94 billion. Johnson Controls International had a return on equity of 13.08% and a net margin of 7.85%. The company’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, sell-side analysts expect that Johnson Controls International plc will post 3.61 EPS for the current year.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Monday, March 25th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, March 22nd. Johnson Controls International’s dividend payout ratio (DPR) is 48.21%.

Johnson Controls International Company Profile

Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products and systems in the United States, Europe, the Asia Pacific, and internationally. It operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.