Dynamic Technology Lab Private Ltd reduced its position in Johnson Controls International PLC (NYSE:JCI) by 80.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,868 shares of the company’s stock after selling 36,780 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Johnson Controls International were worth $328,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Horan Capital Advisors LLC. acquired a new stake in shares of Johnson Controls International in the 1st quarter valued at approximately $25,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Johnson Controls International by 155.6% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 667 shares of the company’s stock valued at $25,000 after purchasing an additional 406 shares in the last quarter. Ellis Investment Partners LLC acquired a new stake in shares of Johnson Controls International in the 1st quarter valued at approximately $30,000. Paragon Capital Management LLC acquired a new stake in shares of Johnson Controls International in the 1st quarter valued at approximately $31,000. Finally, Proficio Capital Partners LLC boosted its stake in shares of Johnson Controls International by 148.2% in the 4th quarter. Proficio Capital Partners LLC now owns 1,102 shares of the company’s stock valued at $33,000 after purchasing an additional 658 shares in the last quarter. 91.05% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:JCI opened at $39.95 on Friday. 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 PLC has a one year low of $28.30 and a one year high of $40.33. The company has a market cap of $35.88 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 2.15 and a beta of 0.94.
Johnson Controls International announced that its board has approved a stock repurchase program on Thursday, March 7th that allows the company to buyback $8.50 billion in outstanding shares. This buyback authorization allows the company to purchase up to 26% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Monday, June 24th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $1.04 annualized dividend and a yield of 2.60%. Johnson Controls International’s dividend payout ratio is presently 36.75%.
In related news, insider Rodney M. Rushing sold 29,728 shares of Johnson Controls International stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $39.03, for a total transaction of $1,160,283.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George Oliver sold 11,481 shares of Johnson Controls International stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $38.90, for a total transaction of $446,610.90. Following the sale, the chief executive officer now owns 870,354 shares in the company, valued at $33,856,770.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,865 shares of company stock worth $7,308,261. 0.50% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Monday, May 20th. TheStreet upgraded shares of Johnson Controls International from a “c+” rating to a “b-” rating in a research note on Thursday, May 9th. Barclays assumed coverage on shares of Johnson Controls International in a research note on Wednesday. They issued an “equal weight” rating and a $39.00 price target on the stock. Credit Suisse Group assumed coverage on shares of Johnson Controls International in a research note on Monday, May 13th. They issued a “neutral” rating and a $42.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Johnson Controls International in a research note on Wednesday, June 5th. They issued a “buy” rating and a $45.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $39.64.
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. 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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