ACR Alpine Capital Research LLC cut its holdings in Johnson Controls International PLC (NYSE:JCI) by 3.5% in the third quarter, HoldingsChannel reports. The firm owned 202,666 shares of the auto parts company’s stock after selling 7,374 shares during the quarter. Johnson Controls International accounts for 0.4% of ACR Alpine Capital Research LLC’s portfolio, making the stock its 15th largest position. ACR Alpine Capital Research LLC’s holdings in Johnson Controls International were worth $7,093,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Dynamic Technology Lab Private Ltd lifted its position in Johnson Controls International by 338.2% in the third quarter. Dynamic Technology Lab Private Ltd now owns 37,817 shares of the auto parts company’s stock worth $1,323,000 after buying an additional 29,187 shares during the last quarter. First Republic Investment Management Inc. lifted its position in Johnson Controls International by 0.9% in the third quarter. First Republic Investment Management Inc. now owns 316,360 shares of the auto parts company’s stock worth $11,073,000 after buying an additional 2,873 shares during the last quarter. Assetmark Inc. lifted its position in Johnson Controls International by 1.7% in the third quarter. Assetmark Inc. now owns 497,073 shares of the auto parts company’s stock worth $17,398,000 after buying an additional 8,074 shares during the last quarter. Riverhead Capital Management LLC lifted its position in Johnson Controls International by 76.5% in the third quarter. Riverhead Capital Management LLC now owns 21,105 shares of the auto parts company’s stock worth $739,000 after buying an additional 9,150 shares during the last quarter. Finally, Zuckerman Investment Group LLC lifted its position in Johnson Controls International by 2.0% in the third quarter. Zuckerman Investment Group LLC now owns 573,932 shares of the auto parts company’s stock worth $20,088,000 after buying an additional 11,307 shares during the last quarter. 92.23% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. Zacks Investment Research restated a “hold” rating on shares of Johnson Controls International in a research report on Tuesday, November 13th. Oppenheimer lowered their price target on Johnson Controls International from $44.00 to $39.00 and set an “outperform” rating for the company in a research report on Wednesday, November 14th. Citigroup lowered their price target on Johnson Controls International from $46.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, November 16th. UBS Group downgraded Johnson Controls International from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $44.00 to $40.00 in a research report on Tuesday, September 11th. Finally, Morgan Stanley assumed coverage on Johnson Controls International in a research report on Monday, August 20th. They issued an “equal weight” rating and a $40.00 price target for the company. Four 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. Johnson Controls International has a consensus rating of “Hold” and a consensus target price of $38.92.
NYSE:JCI opened at $33.39 on Friday. Johnson Controls International PLC has a twelve month low of $30.60 and a twelve month high of $41.53. The firm has a market cap of $31.32 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.03 and a beta of 0.88. The company has a quick ratio of 0.76, a current ratio of 1.05 and a debt-to-equity ratio of 0.43.
Johnson Controls International (NYSE:JCI) last released its earnings results on Thursday, November 8th. The auto parts company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Johnson Controls International had a return on equity of 11.92% and a net margin of 6.89%. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.28 billion. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Johnson Controls International PLC will post 2.99 earnings per share for the current year.
Johnson Controls International announced that its board has authorized a stock repurchase program on Thursday, November 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the auto parts company to purchase up to 3.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Monday, December 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.11%. Johnson Controls International’s dividend payout ratio (DPR) is 36.75%.
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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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