Johnson Controls International PLC (NYSE:JCI) Shares Sold by Lathrop Investment Management Corp
Lathrop Investment Management Corp decreased its holdings in Johnson Controls International PLC (NYSE:JCI) by 20.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 163,035 shares of the company’s stock after selling 41,355 shares during the quarter. Johnson Controls International accounts for about 1.7% of Lathrop Investment Management Corp’s holdings, making the stock its 27th largest holding. Lathrop Investment Management Corp’s holdings in Johnson Controls International were worth $5,566,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Guggenheim Capital LLC raised its holdings in shares of Johnson Controls International by 65.2% during the fourth quarter. Guggenheim Capital LLC now owns 208,569 shares of the company’s stock valued at $8,490,000 after acquiring an additional 82,285 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Johnson Controls International by 27.0% during the fourth quarter. Macquarie Group Ltd. now owns 516,611 shares of the company’s stock valued at $21,032,000 after acquiring an additional 109,744 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Johnson Controls International during the fourth quarter valued at approximately $1,216,000. TFG Advisers LLC acquired a new position in shares of Johnson Controls International during the fourth quarter valued at approximately $35,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Johnson Controls International by 24.5% during the fourth quarter. Quadrant Capital Group LLC now owns 8,636 shares of the company’s stock valued at $334,000 after acquiring an additional 1,697 shares during the last quarter. 88.44% of the stock is owned by institutional investors.
Johnson Controls International stock traded up $1.24 during mid-day trading on Friday, hitting $38.48. The company’s stock had a trading volume of 8,528,746 shares, compared to its average volume of 4,697,602. The firm has a market capitalization of $27.70 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 2.41 and a beta of 1.07. Johnson Controls International PLC has a 1 year low of $22.77 and a 1 year high of $44.82. The company has a current ratio of 1.05, a quick ratio of 0.83 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $35.11 and its two-hundred day moving average is $34.04.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Monday, June 22nd were given a $0.26 dividend. The ex-dividend date was Friday, June 19th. This represents a $1.04 annualized dividend and a yield of 2.70%. Johnson Controls International’s payout ratio is 53.06%.
In related news, CEO George Oliver sold 22,620 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $34.17, for a total value of $772,925.40. Corporate insiders own 0.61% of the company’s stock.
A number of brokerages have commented on JCI. JPMorgan Chase & Co. increased their target price on Johnson Controls International from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Vertical Research raised Johnson Controls International from a “hold” rating to a “buy” rating in a report on Wednesday, May 13th. Cowen restated a “buy” rating and issued a $36.00 price target on shares of Johnson Controls International in a research report on Friday. Royal Bank of Canada upgraded Johnson Controls International from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $25.00 to $29.00 in a research report on Tuesday, May 19th. Finally, William Blair restated a “market perform” rating on shares of Johnson Controls International in a research report on Monday, May 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $34.50.
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.
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