M&T Bank Corp lowered its stake in Johnson Controls International PLC (NYSE:JCI) by 17.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,005 shares of the company’s stock after selling 24,041 shares during the period. M&T Bank Corp’s holdings in Johnson Controls International were worth $3,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of the company. Atria Investments LLC grew its holdings in Johnson Controls International by 19.1% in the third quarter. Atria Investments LLC now owns 27,982 shares of the company’s stock worth $979,000 after purchasing an additional 4,480 shares during the period. Bank of Montreal Can grew its holdings in Johnson Controls International by 26.5% in the third quarter. Bank of Montreal Can now owns 1,125,275 shares of the company’s stock worth $39,385,000 after purchasing an additional 235,826 shares during the period. Deprince Race & Zollo Inc. grew its holdings in Johnson Controls International by 2.4% in the third quarter. Deprince Race & Zollo Inc. now owns 670,229 shares of the company’s stock worth $23,458,000 after purchasing an additional 15,820 shares during the period. First Hawaiian Bank acquired a new stake in Johnson Controls International in the third quarter worth $470,000. Finally, Nisa Investment Advisors LLC grew its holdings in Johnson Controls International by 5.1% in the third quarter. Nisa Investment Advisors LLC now owns 180,183 shares of the company’s stock worth $6,306,000 after purchasing an additional 8,764 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.
Johnson Controls International stock opened at $34.00 on Monday. 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 capitalization of $31.03 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 1.03.
Johnson Controls International declared that its board has authorized a share repurchase plan on Thursday, November 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
JCI has been the subject of a number of research reports. Morgan Stanley set a $35.00 price target on shares of Johnson Controls International and gave the stock a “hold” rating in a report on Friday, November 2nd. Oppenheimer dropped their price objective 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. TheStreet lowered shares of Johnson Controls International from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. ValuEngine raised shares of Johnson Controls International from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Zacks Investment Research lowered shares of Johnson Controls International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 15th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $38.50.
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. 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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