Essex Investment Management Co. LLC cut its stake in Tyco International Ltd. (NYSE:JCI) by 41.9% during the second quarter, Holdings Channel reports. The fund owned 17,206 shares of the company’s stock after selling 12,390 shares during the period. Essex Investment Management Co. LLC’s holdings in Tyco International were worth $762,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in Tyco International by 77.7% in the first quarter. Acadian Asset Management LLC now owns 8,595 shares of the company’s stock valued at $335,000 after buying an additional 3,758 shares during the last quarter. Virginia Retirement System purchased a new stake in Tyco International during the first quarter valued at approximately $409,000. Ngam Advisors L.P. boosted its stake in Tyco International by 10.9% in the first quarter. Ngam Advisors L.P. now owns 125,603 shares of the company’s stock valued at $4,895,000 after buying an additional 12,383 shares during the last quarter. Prudential Financial Inc. boosted its stake in Tyco International by 2.1% in the first quarter. Prudential Financial Inc. now owns 1,215,232 shares of the company’s stock valued at $47,357,000 after buying an additional 24,940 shares during the last quarter. Finally, Woodstock Corp boosted its stake in Tyco International by 0.9% in the first quarter. Woodstock Corp now owns 22,325 shares of the company’s stock valued at $870,000 after buying an additional 200 shares during the last quarter. 62.79% of the stock is owned by hedge funds and other institutional investors.
Shares of Tyco International Ltd. (NYSE:JCI) traded up 1.06% during midday trading on Wednesday, hitting $45.95. 4,951,312 shares of the stock were exchanged. The stock’s 50 day moving average is $46.67 and its 200 day moving average is $45.37. Tyco International Ltd. has a 12-month low of $31.73 and a 12-month high of $50.65. The firm has a market cap of $29.30 billion, a P/E ratio of 45.63 and a beta of 1.19.
Tyco International (NYSE:JCI) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.04. Tyco International had a net margin of 5.45% and a return on equity of 20.59%. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $9.62 billion. During the same quarter in the prior year, the business posted $0.91 EPS. Tyco International’s quarterly revenue was down 1.0% on a year-over-year basis. On average, equities research analysts forecast that Tyco International Ltd. will post $3.46 earnings per share for the current fiscal year.
JCI has been the subject of several research reports. Credit Suisse Group AG reissued a “buy” rating on shares of Tyco International in a research note on Tuesday, June 14th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $50.00 price objective on shares of Tyco International in a research note on Tuesday, June 14th. Morgan Stanley reissued a “buy” rating on shares of Tyco International in a research note on Wednesday, June 15th. Robert W. Baird reissued a “buy” rating on shares of Tyco International in a research note on Wednesday, June 15th. Finally, Zacks Investment Research raised shares of Tyco International from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, June 21st. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.73.
In related news, VP R Bruce Mcdonald sold 98,166 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $44.95, for a total value of $4,412,561.70. Following the transaction, the vice president now directly owns 100,766 shares in the company, valued at approximately $4,529,431.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by corporate insiders.
Tyco International Company Profile
Johnson Controls, Inc is a technology company. The Company provides products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles, and seating and interior systems for automobiles. The Company operates in two segments: Building Efficiency and Power Solutions.
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