Jupiter Asset Management Ltd. grew its stake in Johnson Controls International PLC (NYSE:JCI) by 0.5% during the third quarter, HoldingsChannel reports. The firm owned 435,550 shares of the auto parts company’s stock after buying an additional 1,983 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Johnson Controls International were worth $15,240,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of JCI. Newport Trust Co acquired a new stake in shares of Johnson Controls International in the 2nd quarter valued at approximately $316,198,000. Parnassus Investments CA acquired a new stake in shares of Johnson Controls International in the 2nd quarter valued at approximately $66,900,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Johnson Controls International in the 2nd quarter valued at approximately $26,076,000. State Treasurer State of Michigan boosted its stake in shares of Johnson Controls International by 203.0% in the 2nd quarter. State Treasurer State of Michigan now owns 826,287 shares of the auto parts company’s stock valued at $27,639,000 after purchasing an additional 553,600 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Johnson Controls International by 169.9% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 224,955 shares of the auto parts company’s stock valued at $5,541,000 after purchasing an additional 546,718 shares in the last quarter. Institutional investors own 91.71% of the company’s stock.
Shares of NYSE JCI opened at $33.44 on Monday. The company has a market capitalization of $30.93 billion, a P/E ratio of 11.82, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. Johnson Controls International PLC has a 1 year low of $30.60 and a 1 year high of $41.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.05 and a quick ratio of 0.76.
Johnson Controls International declared that its board has initiated a stock repurchase program on Thursday, November 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the auto parts company to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
A number of research firms have recently weighed in on JCI. Zacks Investment Research restated a “hold” rating on shares of Johnson Controls International in a research note on Tuesday, November 13th. Oppenheimer reduced their price target on shares of 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. Royal Bank of Canada restated a “sell” rating and issued a $34.00 price target on shares of Johnson Controls International in a research note on Wednesday, August 1st. Barclays raised their price target on shares of Johnson Controls International from $38.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. Finally, Citigroup reduced their price target on shares of Johnson Controls International from $46.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday. Four equities research 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’s stock. Johnson Controls International currently has an average rating of “Hold” and an average 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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