Synovus Financial Corp Sells 4,920 Shares of Johnson Controls International plc (NYSE:JCI)

Synovus Financial Corp cut its stake in shares of Johnson Controls International plc (NYSE:JCIGet Rating) by 40.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,160 shares of the company’s stock after selling 4,920 shares during the period. Synovus Financial Corp’s holdings in Johnson Controls International were worth $335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Industrial Alliance Investment Management Inc. increased its position in shares of Johnson Controls International by 80.6% during the second quarter. Industrial Alliance Investment Management Inc. now owns 17,131 shares of the company’s stock valued at $820,000 after buying an additional 7,643 shares during the period. Principal Financial Group Inc. increased its position in shares of Johnson Controls International by 5.7% during the second quarter. Principal Financial Group Inc. now owns 987,747 shares of the company’s stock valued at $47,293,000 after buying an additional 53,133 shares during the period. Desjardins Global Asset Management Inc. increased its position in shares of Johnson Controls International by 7.3% during the second quarter. Desjardins Global Asset Management Inc. now owns 52,261 shares of the company’s stock valued at $2,502,000 after buying an additional 3,534 shares during the period. Cerity Partners LLC bought a new stake in shares of Johnson Controls International during the second quarter valued at about $288,000. Finally, SeaCrest Wealth Management LLC increased its position in shares of Johnson Controls International by 8.3% during the second quarter. SeaCrest Wealth Management LLC now owns 6,127 shares of the company’s stock valued at $293,000 after buying an additional 468 shares during the period. 88.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price target on Johnson Controls International from $60.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, November 4th. Royal Bank of Canada upped their price objective on shares of Johnson Controls International from $53.00 to $61.00 in a research report on Friday, November 4th. The Goldman Sachs Group upped their price objective on shares of Johnson Controls International from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Mizuho upped their price objective on shares of Johnson Controls International from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, November 4th. Finally, Wells Fargo & Company upped their price objective on shares of Johnson Controls International from $59.00 to $66.00 and gave the stock an “overweight” rating in a research report on Friday, November 4th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $67.43.

Johnson Controls International Stock Up 1.8 %

Shares of JCI opened at $66.98 on Monday. The firm has a market cap of $46.00 billion, a P/E ratio of 30.31, a P/E/G ratio of 1.36 and a beta of 1.19. The stock has a 50 day simple moving average of $56.21 and a two-hundred day simple moving average of $53.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.82. Johnson Controls International plc has a 1 year low of $45.52 and a 1 year high of $81.77.

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Monday, September 26th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.09%. The ex-dividend date was Friday, September 23rd. Johnson Controls International’s dividend payout ratio is currently 63.35%.

Johnson Controls International Company Profile

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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.

Further Reading

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

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