Tower Research Capital LLC TRC raised its stake in shares of Johnson Controls International PLC (NYSE:JCI) by 91.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 33,354 shares of the auto parts company’s stock after purchasing an additional 15,929 shares during the period. Tower Research Capital LLC TRC’s holdings in Johnson Controls International were worth $1,167,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Sowell Financial Services LLC acquired a new position in Johnson Controls International during the 3rd quarter valued at about $233,000. Poehling Capital Management LLC boosted its stake in Johnson Controls International by 13.0% during the 3rd quarter. Poehling Capital Management LLC now owns 14,620 shares of the auto parts company’s stock valued at $512,000 after purchasing an additional 1,678 shares during the last quarter. Kiltearn Partners LLP boosted its stake in Johnson Controls International by 2.5% during the 3rd quarter. Kiltearn Partners LLP now owns 5,447,300 shares of the auto parts company’s stock valued at $190,656,000 after purchasing an additional 135,174 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Johnson Controls International by 110.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 125,627 shares of the auto parts company’s stock valued at $4,397,000 after purchasing an additional 66,002 shares during the last quarter. Finally, Standard Life Aberdeen plc boosted its stake in Johnson Controls International by 9.4% during the 3rd quarter. Standard Life Aberdeen plc now owns 340,204 shares of the auto parts company’s stock valued at $11,908,000 after purchasing an additional 29,358 shares during the last quarter. Institutional investors and hedge funds own 92.23% of the company’s stock.
NYSE:JCI opened at $34.78 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $32.14 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.06 and a beta of 0.88. Johnson Controls International PLC has a 12 month low of $30.60 and a 12 month high of $41.53.
Johnson Controls International announced that its board has approved a share repurchase program on Thursday, November 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the auto parts company to buy up to 3.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
Several equities analysts have commented on JCI shares. Morgan Stanley started coverage on shares of Johnson Controls International in a research report on Monday, August 20th. They set an “equal weight” rating and a $40.00 target price on the stock. Argus raised shares of Johnson Controls International from a “hold” rating to a “buy” rating in a research report on Tuesday, August 21st. TheStreet raised shares of Johnson Controls International from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. UBS Group dropped their target price on shares of Johnson Controls International from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, August 30th. Finally, JPMorgan Chase & Co. cut shares of Johnson Controls International from a “neutral” rating to an “underweight” rating and set a $44.00 target price on the stock. in a research report on Friday, September 21st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.92.
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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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