Russell Investments Group Ltd. Cuts Stock Position in Johnson Controls International plc (NYSE:JCI)

Russell Investments Group Ltd. trimmed its position in shares of Johnson Controls International plc (NYSE:JCI) by 16.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 271,824 shares of the company’s stock after selling 55,315 shares during the quarter. Russell Investments Group Ltd.’s holdings in Johnson Controls International were worth $15,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of JCI. Invesco Ltd. lifted its position in Johnson Controls International by 4.7% during the third quarter. Invesco Ltd. now owns 13,063,227 shares of the company’s stock valued at $695,094,000 after acquiring an additional 588,724 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Johnson Controls International by 6.2% during the 3rd quarter. Northern Trust Corp now owns 7,065,473 shares of the company’s stock valued at $375,954,000 after purchasing an additional 415,056 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Johnson Controls International by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,155,879 shares of the company’s stock worth $327,554,000 after purchasing an additional 197,770 shares in the last quarter. abrdn plc grew its stake in Johnson Controls International by 1.7% during the 3rd quarter. abrdn plc now owns 4,638,378 shares of the company’s stock worth $246,808,000 after buying an additional 79,543 shares during the last quarter. Finally, Raymond James & Associates grew its stake in Johnson Controls International by 5.2% during the 4th quarter. Raymond James & Associates now owns 3,763,779 shares of the company’s stock worth $216,944,000 after buying an additional 186,455 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Johnson Controls International Stock Up 2.7 %

Johnson Controls International stock opened at $62.36 on Friday. Johnson Controls International plc has a 52 week low of $47.90 and a 52 week high of $70.43. The firm has a market cap of $42.01 billion, a price-to-earnings ratio of 25.25, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23. The business’s 50-day moving average price is $63.23 and its 200 day moving average price is $57.15. The company has a quick ratio of 0.73, a current ratio of 0.87 and a debt-to-equity ratio of 0.44.

Johnson Controls International (NYSE:JCI) last posted its earnings results on Wednesday, May 1st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. Johnson Controls International had a net margin of 6.32% and a return on equity of 13.21%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.51 billion. During the same period in the previous year, the firm earned $0.75 EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Johnson Controls International plc will post 3.61 earnings per share for the current year.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Monday, March 25th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Friday, March 22nd. Johnson Controls International’s payout ratio is currently 59.92%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on JCI shares. Wells Fargo & Company raised their price target on Johnson Controls International from $64.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Melius Research reissued a “hold” rating on shares of Johnson Controls International in a research report on Tuesday, January 30th. Royal Bank of Canada decreased their price target on shares of Johnson Controls International from $50.00 to $48.00 and set an “underperform” rating for the company in a report on Wednesday, January 31st. Argus downgraded shares of Johnson Controls International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. Finally, StockNews.com downgraded Johnson Controls International from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.25.

Johnson Controls International Profile

Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products and systems in the United States, Europe, the Asia Pacific, and internationally. It operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.