Meritage Portfolio Management Invests $2.76 Million in Johnson Controls International plc (NYSE:JCI)

Meritage Portfolio Management acquired a new stake in shares of Johnson Controls International plc (NYSE:JCI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 47,862 shares of the company’s stock, valued at approximately $2,759,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Johnson Controls International in the 4th quarter worth $25,000. NBC Securities Inc. bought a new stake in Johnson Controls International in the third quarter worth about $26,000. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Johnson Controls International during the 3rd quarter valued at about $30,000. Headinvest LLC acquired a new position in shares of Johnson Controls International in the 3rd quarter worth approximately $30,000. Finally, West Paces Advisors Inc. bought a new stake in shares of Johnson Controls International in the 3rd quarter worth approximately $31,000. Institutional investors own 90.05% of the company’s stock.

Johnson Controls International Stock Performance

NYSE:JCI traded down $0.16 during midday trading on Thursday, reaching $64.45. The stock had a trading volume of 5,004,658 shares, compared to its average volume of 5,530,883. The stock has a market capitalization of $43.92 billion, a P/E ratio of 21.04, a PEG ratio of 1.64 and a beta of 1.24. Johnson Controls International plc has a 1-year low of $47.90 and a 1-year high of $70.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.97 and a quick ratio of 0.73. The firm’s fifty day simple moving average is $62.49 and its 200-day simple moving average is $56.73.

Johnson Controls International (NYSE:JCI) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Johnson Controls International had a return on equity of 13.08% and a net margin of 7.85%. The company had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period last year, the business posted $0.67 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year. On average, equities research analysts forecast that Johnson Controls International plc will post 3.61 EPS for the current fiscal year.

Johnson Controls International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Monday, March 25th were paid a $0.37 dividend. The ex-dividend date was Friday, March 22nd. This represents a $1.48 annualized dividend and a dividend yield of 2.30%. Johnson Controls International’s payout ratio is 48.21%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. HSBC cut Johnson Controls International from a “buy” rating to a “hold” rating and set a $60.00 price target on the stock. in a report on Wednesday, January 31st. Wells Fargo & Company boosted their target price on Johnson Controls International from $64.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Oppenheimer increased their price target on Johnson Controls International from $66.00 to $71.00 and gave the company an “outperform” rating in a research report on Thursday, April 18th. Barclays boosted their price objective on Johnson Controls International from $59.00 to $61.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Finally, Mizuho lowered shares of Johnson Controls International from a “buy” rating to a “neutral” rating and set a $62.00 price objective for the company. in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Johnson Controls International has a consensus rating of “Hold” and a consensus target price of $64.50.

Johnson Controls International Company 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.