State of Michigan Retirement System Acquires 13,098 Shares of Johnson Controls International PLC (NYSE:JCI)

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State of Michigan Retirement System increased its holdings in Johnson Controls International PLC (NYSE:JCI) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,985 shares of the company’s stock after purchasing an additional 13,098 shares during the quarter. State of Michigan Retirement System’s holdings in Johnson Controls International were worth $6,486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Centerpoint Advisors LLC grew its position in shares of Johnson Controls International by 15,216.7% in the 1st quarter. Centerpoint Advisors LLC now owns 919 shares of the company’s stock valued at $25,000 after buying an additional 913 shares during the last quarter. Lenox Wealth Advisors LLC acquired a new position in shares of Johnson Controls International in the second quarter worth approximately $25,000. New England Investment & Retirement Group Inc. bought a new stake in Johnson Controls International in the first quarter valued at approximately $34,000. AIA Investment Management Private Ltd acquired a new stake in Johnson Controls International during the 1st quarter valued at approximately $34,000. Finally, CFM Wealth Partners LLC acquired a new stake in Johnson Controls International during the 1st quarter valued at approximately $46,000. Institutional investors and hedge funds own 88.44% of the company’s stock.

JCI opened at $38.48 on Friday. Johnson Controls International PLC has a 1-year low of $22.77 and a 1-year high of $44.82. The company has a market cap of $28.62 billion, a price-to-earnings ratio of 6.36, a PEG ratio of 2.49 and a beta of 1.07. The company’s fifty day moving average price is $35.11 and its two-hundred day moving average price is $34.04. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.30.

Johnson Controls International (NYSE:JCI) last posted its earnings results on Friday, July 31st. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.19. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.11 billion. Johnson Controls International had a net margin of 21.80% and a return on equity of 8.81%. The firm’s revenue was down 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. As a group, equities analysts forecast that Johnson Controls International PLC will post 2.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Monday, June 22nd were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.70%. Johnson Controls International’s dividend payout ratio is presently 53.06%.

A number of research firms have recently commented on JCI. Oppenheimer reaffirmed a “hold” rating on shares of Johnson Controls International in a research note on Friday, May 1st. Morgan Stanley upped their price target on shares of Johnson Controls International from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. Zacks Investment Research lowered Johnson Controls International from a “hold” rating to a “sell” rating and set a $30.00 price objective for the company. in a research report on Tuesday, May 5th. Robert W. Baird cut their target price on Johnson Controls International from $36.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Finally, UBS Group raised Johnson Controls International from a “neutral” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Monday, June 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. Johnson Controls International has an average rating of “Hold” and an average price target of $34.50.

In related news, CEO George Oliver sold 22,620 shares of Johnson Controls International stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $34.17, for a total transaction of $772,925.40. 0.61% of the stock is owned by company insiders.

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. 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.

Read More: Why do analysts give a neutral rating?

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

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