New York State Teachers Retirement System Trims Stake in Johnson Controls International PLC (JCI)

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New York State Teachers Retirement System trimmed its holdings in Johnson Controls International PLC (NYSE:JCI) by 0.3% in the first quarter, Holdings Channel reports. The institutional investor owned 1,304,901 shares of the company’s stock after selling 4,404 shares during the quarter. New York State Teachers Retirement System’s holdings in Johnson Controls International were worth $48,203,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Kentucky Retirement Systems purchased a new position in Johnson Controls International during the fourth quarter worth about $1,192,000. Citizens Financial Group Inc RI raised its holdings in Johnson Controls International by 18.8% during the fourth quarter. Citizens Financial Group Inc RI now owns 2,349 shares of the company’s stock worth $70,000 after purchasing an additional 372 shares in the last quarter. Uncommon Cents Investing LLC purchased a new position in Johnson Controls International during the fourth quarter worth about $396,000. Eaton Vance Management raised its holdings in Johnson Controls International by 6.9% during the fourth quarter. Eaton Vance Management now owns 358,045 shares of the company’s stock worth $10,616,000 after purchasing an additional 23,103 shares in the last quarter. Finally, Norges Bank purchased a new position in Johnson Controls International during the fourth quarter worth about $188,299,000. 91.94% of the stock is owned by institutional investors and hedge funds.

JCI has been the subject of several analyst reports. ValuEngine raised shares of Johnson Controls International from a “sell” rating to a “hold” rating in a report on Friday, February 8th. OTR Global cut shares of Johnson Controls International to a “positive” rating in a report on Friday, January 18th. Zacks Investment Research cut shares of 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 shares of 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 analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.45.

In other news, VP Jeffrey M. Williams sold 4,166 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $39.50, for a total value of $164,557.00. Following the sale, the vice president now directly owns 194,406 shares in the company, valued at $7,679,037. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rodney M. Rushing sold 29,728 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $39.03, for a total transaction of $1,160,283.84. The disclosure for this sale can be found here. Insiders sold 175,384 shares of company stock worth $6,861,650 over the last quarter. Company insiders own 0.50% of the company’s stock.

Shares of Johnson Controls International stock opened at $39.18 on Friday. Johnson Controls International PLC has a 12-month low of $28.30 and a 12-month high of $40.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.80. The stock has a market capitalization of $35.07 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 2.10 and a beta of 1.06.

Johnson Controls International (NYSE:JCI) last issued its earnings results on Wednesday, May 1st. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. Johnson Controls International had a net margin of 8.52% and a return on equity of 9.85%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.79 billion. During the same period last year, the company posted $0.54 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts predict that Johnson Controls International PLC will post 1.93 earnings per share for the current year.

Johnson Controls International announced that its board has approved a stock repurchase plan on Thursday, March 7th that allows the company to repurchase $8.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 26% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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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. 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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Institutional Ownership by Quarter for Johnson Controls International (NYSE:JCI)

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