Johnson Controls International PLC (JCI) Sees Large Drop in Short Interest

Johnson Controls International PLC (NYSE:JCI) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 18,183,057 shares, a decrease of 22.3% from the September 28th total of 23,413,748 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily trading volume, of 5,122,703 shares, the short-interest ratio is currently 3.5 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. increased its stake in Johnson Controls International by 7.8% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 83,019 shares of the auto parts company’s stock valued at $2,777,000 after purchasing an additional 5,999 shares in the last quarter. Global X Management Co LLC grew its holdings in Johnson Controls International by 28.7% during the 2nd quarter. Global X Management Co LLC now owns 78,579 shares of the auto parts company’s stock valued at $2,628,000 after buying an additional 17,537 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in Johnson Controls International by 68.5% during the 2nd quarter. Wolverine Asset Management LLC now owns 61,500 shares of the auto parts company’s stock valued at $2,057,000 after buying an additional 25,000 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Johnson Controls International by 2.5% during the 2nd quarter. Macquarie Group Ltd. now owns 457,412 shares of the auto parts company’s stock valued at $15,301,000 after buying an additional 11,315 shares during the last quarter. Finally, HPM Partners LLC grew its holdings in Johnson Controls International by 16.9% during the 2nd quarter. HPM Partners LLC now owns 16,976 shares of the auto parts company’s stock valued at $568,000 after buying an additional 2,452 shares during the last quarter. 93.04% of the stock is owned by hedge funds and other institutional investors.

NYSE JCI opened at $31.81 on Wednesday. Johnson Controls International has a 1-year low of $30.60 and a 1-year high of $41.98. The company has a market capitalization of $28.97 billion, a P/E ratio of 12.23, a PEG ratio of 0.94 and a beta of 0.85. The company has a quick ratio of 0.79, a current ratio of 1.10 and a debt-to-equity ratio of 0.48.



The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Monday, September 24th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.27%. The ex-dividend date was Friday, September 21st. Johnson Controls International’s payout ratio is currently 40.00%.

A number of equities analysts have recently issued reports on JCI shares. Barclays increased their target price on Johnson Controls International from $38.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 1st. Credit Suisse Group started coverage on Johnson Controls International in a research note on Friday, October 12th. They set a “neutral” rating and a $37.00 target price for the company. TheStreet raised Johnson Controls International from a “c+” rating to a “b-” rating in a research note on Friday, August 24th. Argus raised Johnson Controls International from a “hold” rating to a “buy” rating in a research note on Tuesday, August 21st. Finally, Zacks Investment Research downgraded Johnson Controls International from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.64.

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. 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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