State of Alaska Department of Revenue increased its stake in Johnson Controls International PLC (NYSE:JCI) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,773 shares of the company’s stock after purchasing an additional 4,123 shares during the period. State of Alaska Department of Revenue’s holdings in Johnson Controls International were worth $4,558,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cerebellum GP LLC bought a new stake in shares of Johnson Controls International in the 4th quarter worth approximately $255,000. Moody National Bank Trust Division lifted its holdings in shares of Johnson Controls International by 537.6% in the 4th quarter. Moody National Bank Trust Division now owns 848 shares of the company’s stock worth $25,000 after purchasing an additional 715 shares during the last quarter. CenturyLink Investment Management Co bought a new stake in shares of Johnson Controls International in the 4th quarter worth approximately $1,314,000. Private Trust Co. NA lifted its holdings in shares of Johnson Controls International by 11.0% in the 4th quarter. Private Trust Co. NA now owns 8,916 shares of the company’s stock worth $264,000 after purchasing an additional 882 shares during the last quarter. Finally, Vanguard Group Inc lifted its holdings in shares of Johnson Controls International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 67,459,746 shares of the company’s stock worth $2,361,091,000 after purchasing an additional 857,281 shares during the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of Johnson Controls International stock opened at $32.18 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.76 and a current ratio of 1.05. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 0.98 and a beta of 0.95. Johnson Controls International PLC has a 1-year low of $28.30 and a 1-year high of $41.53.
Johnson Controls International announced that its board has approved a share buyback program on Thursday, November 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 11th. Stockholders of record on Monday, December 17th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, December 14th. Johnson Controls International’s dividend payout ratio is presently 36.75%.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Johnson Controls International from a “neutral” rating to an “underweight” rating and set a $44.00 price target on the stock. in a report on Friday, September 21st. Wells Fargo & Co cut their price target on Johnson Controls International from $41.00 to $38.00 and set a “market perform” rating on the stock in a report on Friday, September 28th. Zacks Investment Research reissued a “hold” rating on shares of Johnson Controls International in a report on Tuesday, November 13th. Oppenheimer cut their target price on Johnson Controls International from $44.00 to $39.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 14th. Finally, Citigroup cut their target price on Johnson Controls International from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, November 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $38.50.
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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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