Wedbush Securities Inc. Cuts Holdings in Johnson Controls International PLC (JCI)

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Wedbush Securities Inc. lessened its stake in Johnson Controls International PLC (NYSE:JCI) by 23.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,042 shares of the auto parts company’s stock after selling 5,103 shares during the period. Wedbush Securities Inc.’s holdings in Johnson Controls International were worth $596,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in JCI. TRUE Private Wealth Advisors purchased a new stake in shares of Johnson Controls International in the 3rd quarter valued at $131,000. FTB Advisors Inc. purchased a new stake in shares of Johnson Controls International in the 2nd quarter valued at $138,000. Focused Wealth Management Inc purchased a new stake in shares of Johnson Controls International in the 3rd quarter valued at $158,000. Point72 Hong Kong Ltd purchased a new stake in shares of Johnson Controls International in the 2nd quarter valued at $156,000. Finally, Synovus Financial Corp boosted its stake in shares of Johnson Controls International by 87.8% in the 3rd quarter. Synovus Financial Corp now owns 5,282 shares of the auto parts company’s stock valued at $186,000 after purchasing an additional 2,469 shares in the last quarter. 92.23% of the stock is owned by institutional investors and hedge funds.

NYSE:JCI opened at $32.66 on Friday. Johnson Controls International PLC has a 52 week low of $30.60 and a 52 week high of $41.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.05 and a quick ratio of 0.76. The firm has a market cap of $30.85 billion, a P/E ratio of 11.54, a PEG ratio of 1.01 and a beta of 0.88.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings results on Thursday, November 8th. The auto parts company reported $0.93 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.93. Johnson Controls International had a net margin of 6.89% and a return on equity of 11.92%. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.28 billion. During the same period in the prior year, the business posted $0.87 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts expect that Johnson Controls International PLC will post 2.99 EPS for the current fiscal year.

Johnson Controls International announced that its board has approved a share buyback plan on Thursday, November 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the auto parts company to repurchase up to 3.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Monday, December 17th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, December 14th. This represents a $1.04 dividend on an annualized basis and a yield of 3.18%. Johnson Controls International’s dividend payout ratio is currently 36.75%.

A number of equities research analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Johnson Controls International from $46.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Oppenheimer cut their price objective on shares of Johnson Controls International from $44.00 to $39.00 and set an “outperform” rating for the company in a research note on Wednesday, November 14th. Zacks Investment Research reaffirmed a “hold” rating on shares of Johnson Controls International in a research note on Tuesday, November 13th. Morgan Stanley set a $35.00 price objective on shares of Johnson Controls International and gave the company a “hold” rating in a research note on Friday, November 2nd. Finally, TheStreet cut shares of Johnson Controls International from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.50.

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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. 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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Institutional Ownership by Quarter for Johnson Controls International (NYSE:JCI)

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