Adams Diversified Equity Fund Inc. Sells 61,700 Shares of Johnson Controls International plc $JCI

Key Points

• Adams Diversified Equity Fund cut its Johnson Controls International stake by 31% in the first quarter, selling 61,700 shares and leaving it with 137,300 shares valued at about $18.0 million.
• Institutional ownership remains high, with hedge funds and other institutional investors holding 90.05% of JCI shares. Several other funds also recently increased or initiated positions in the stock.
• Analyst sentiment is mostly positive: JCI has a Moderate Buy consensus rating and an average price target of $152.85, while the company also announced a quarterly dividend of $0.40 per share payable July 10.

Adams Diversified Equity Fund Inc. decreased its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 31.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 137,300 shares of the company's stock after selling 61,700 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Johnson Controls International were worth $17,979,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JCI. Brighton Jones LLC bought a new position in Johnson Controls International in the 4th quarter valued at $222,000. Acadian Asset Management LLC purchased a new position in shares of Johnson Controls International in the 1st quarter worth about $55,000. Sivia Capital Partners LLC grew its position in Johnson Controls International by 83.3% during the second quarter. Sivia Capital Partners LLC now owns 7,049 shares of the company's stock valued at $745,000 after buying an additional 3,203 shares during the period. Jump Financial LLC increased its holdings in Johnson Controls International by 3.5% during the second quarter. Jump Financial LLC now owns 12,578 shares of the company's stock worth $1,328,000 after buying an additional 425 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Johnson Controls International by 120.7% in the second quarter. Federated Hermes Inc. now owns 12,359 shares of the company's stock worth $1,305,000 after acquiring an additional 6,760 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JCI. Evercore initiated coverage on shares of Johnson Controls International in a research report on Monday, April 13th. They set a "hold" rating and a $155.00 target price for the company. Sanford C. Bernstein assumed coverage on Johnson Controls International in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $176.00 price objective on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Johnson Controls International in a research report on Tuesday, June 9th. Barclays boosted their target price on Johnson Controls International from $136.00 to $144.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. increased their price target on Johnson Controls International from $158.00 to $162.00 in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $152.85.

Insider Activity

In related news, VP Todd M. Grabowski sold 1,800 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $146.20, for a total value of $263,160.00. Following the sale, the vice president directly owned 26,215 shares of the company's stock, valued at $3,832,633. This trade represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Lei Zhang Schlitz sold 88,809 shares of Johnson Controls International stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $140.99, for a total transaction of $12,521,180.91. Following the sale, the vice president owned 57,059 shares of the company's stock, valued at approximately $8,044,748.41. The trade was a 60.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.29% of the stock is currently owned by insiders.

Johnson Controls International Trading Down 4.7%

Shares of JCI stock opened at $138.62 on Friday. The company has a market capitalization of $84.57 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32. Johnson Controls International plc has a 52-week low of $102.09 and a 52-week high of $149.38. The business's fifty day moving average is $141.69 and its 200 day moving average is $132.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.04.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $1.19 EPS for the quarter. The business had revenue of $6.14 billion during the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%. On average, equities research analysts anticipate that Johnson Controls International plc will post 4.89 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, June 15th. Johnson Controls International's dividend payout ratio (DPR) is 28.62%.

About Johnson Controls International

Johnson Controls International plc is a global diversified technology and multi‑industrial company that develops products, services and solutions for buildings and energy storage. The company's core focus is on improving building efficiency, safety and sustainability through a combination of HVAC equipment, building controls and automation, fire and security systems, and related services. Johnson Controls traces its roots to 1885, when inventor Warren S. Johnson developed an electric room thermostat; over its long history the company has expanded from controls into a broad set of building‑related technologies and, through corporate transactions, into a global provider of integrated building solutions.

Johnson Controls' product and service portfolio includes heating, ventilation and air‑conditioning equipment, chillers, air handlers and related mechanical systems, together with building automation and control platforms that monitor and manage energy use, indoor environmental quality and security.

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