Robeco Institutional Asset Management B.V. raised its stake in Johnson Controls International PLC (NYSE:JCI) by 22.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,216 shares of the company’s stock after purchasing an additional 35,013 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Johnson Controls International were worth $7,175,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Johnson Controls International in the fourth quarter valued at approximately $188,299,000. Oregon Public Employees Retirement Fund grew its holdings in shares of Johnson Controls International by 6,114.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,325,442 shares of the company’s stock valued at $213,000 after acquiring an additional 6,223,662 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Johnson Controls International by 4.3% in the fourth quarter. BlackRock Inc. now owns 62,579,756 shares of the company’s stock valued at $1,855,489,000 after acquiring an additional 2,602,524 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Johnson Controls International by 948.2% in the fourth quarter. Millennium Management LLC now owns 1,725,672 shares of the company’s stock valued at $51,166,000 after acquiring an additional 1,561,043 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Johnson Controls International by 394.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,762,803 shares of the company’s stock valued at $52,267,000 after acquiring an additional 1,406,522 shares in the last quarter. 91.94% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE JCI opened at $39.25 on Thursday. Johnson Controls International PLC has a 1-year low of $28.30 and a 1-year high of $40.33. The firm has a market cap of $35.21 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.80.
Johnson Controls International (NYSE:JCI) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. Johnson Controls International had a return on equity of 9.85% and a net margin of 8.52%. The business had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.79 billion. During the same period in the prior year, the company earned $0.54 earnings per share. Johnson Controls International’s revenue was up 2.6% compared to the same quarter last year. Analysts anticipate that Johnson Controls International PLC will post 1.93 earnings per share for the current year.
Johnson Controls International announced that its Board of Directors has initiated a share buyback program on Thursday, March 7th that allows the company to repurchase $8.50 billion in outstanding shares. This repurchase authorization allows the company to buy up to 26% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
In other news, VP Robert M. Vanhimbergen sold 3,907 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $39.33, for a total value of $153,662.31. Following the completion of the transaction, the vice president now directly owns 26,094 shares of the company’s stock, valued at $1,026,277.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian J. Stief sold 126,158 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $39.09, for a total value of $4,931,516.22. Following the completion of the transaction, the vice president now directly owns 154,860 shares of the company’s stock, valued at $6,053,477.40. The disclosure for this sale can be found here. Insiders sold 175,384 shares of company stock valued at $6,861,650 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.
JCI has been the subject of several recent analyst reports. ValuEngine raised Johnson Controls International from a “sell” rating to a “hold” rating in a report on Friday, February 8th. OTR Global lowered Johnson Controls International to a “positive” rating in a report on Friday, January 18th. Zacks Investment Research lowered Johnson Controls International from a “buy” rating to a “hold” rating in a report on Monday, April 8th. Cowen reaffirmed a “hold” rating and issued a $32.00 target price (down from $38.00) on shares of Johnson Controls International in a report on Friday, February 15th. Finally, Wells Fargo & Co raised Johnson Controls International from a “market perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Johnson Controls International currently has an average rating of “Hold” and a consensus target price of $39.45.
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. 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.
Further Reading: Net Margin
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