State of Michigan Retirement System Has $13.37 Million Position in Johnson Controls International plc (NYSE:JCI)

State of Michigan Retirement System boosted its position in Johnson Controls International plc (NYSE:JCI) by 0.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 204,642 shares of the company’s stock after buying an additional 500 shares during the quarter. State of Michigan Retirement System’s holdings in Johnson Controls International were worth $13,367,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of JCI. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Johnson Controls International in the fourth quarter worth about $25,000. Rise Advisors LLC bought a new stake in shares of Johnson Controls International in the first quarter worth $25,000. EdgeRock Capital LLC acquired a new position in Johnson Controls International during the fourth quarter worth $27,000. Hexagon Capital Partners LLC increased its stake in Johnson Controls International by 114.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 503 shares of the company’s stock valued at $29,000 after buying an additional 268 shares during the last quarter. Finally, Headinvest LLC acquired a new position in Johnson Controls International during the third quarter valued at approximately $30,000. 90.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their target price on shares of Johnson Controls International from $64.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Barclays upped their price objective on Johnson Controls International from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, June 21st. Citigroup boosted their target price on Johnson Controls International from $59.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. UBS Group downgraded Johnson Controls International from a “buy” rating to a “neutral” rating and cut their price target for the company from $74.00 to $68.00 in a report on Monday, May 6th. Finally, Oppenheimer upped their price objective on shares of Johnson Controls International from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.82.

Johnson Controls International Trading Up 1.2 %

Shares of JCI opened at $66.32 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.65 and a current ratio of 0.87. Johnson Controls International plc has a 52-week low of $47.90 and a 52-week high of $74.23. The firm has a market cap of $44.68 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.73 and a beta of 1.28. The business’s fifty day moving average is $68.26 and its 200-day moving average is $62.35.

Johnson Controls International (NYSE:JCI) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. The company had revenue of $6.70 billion for the quarter, compared to analyst estimates of $7.51 billion. Johnson Controls International had a net margin of 6.32% and a return on equity of 13.21%. The firm’s revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 EPS. Equities analysts anticipate that Johnson Controls International plc will post 3.59 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Monday, June 24th will be given a $0.37 dividend. The ex-dividend date is Monday, June 24th. This represents a $1.48 annualized dividend and a yield of 2.23%. Johnson Controls International’s dividend payout ratio is presently 59.92%.

Insider Activity

In related news, VP Daniel C. Mcconeghy sold 9,342 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $65.50, for a total value of $611,901.00. Following the completion of the transaction, the vice president now owns 25,378 shares in the company, valued at approximately $1,662,259. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Johnson Controls International news, VP Daniel C. Mcconeghy sold 9,342 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $65.50, for a total value of $611,901.00. Following the sale, the vice president now owns 25,378 shares in the company, valued at approximately $1,662,259. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Nathan D. Manning sold 1,167 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $66.01, for a total value of $77,033.67. Following the transaction, the chief operating officer now owns 104,556 shares of the company’s stock, valued at $6,901,741.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,881 shares of company stock valued at $1,149,995. 0.69% of the stock is currently owned by corporate insiders.

About Johnson Controls International

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.