Allstate Corp Has $5.85 Million Position in Johnson Controls International plc $JCI

Key Points

• Allstate Corp more than doubled its stake in Johnson Controls International during the fourth quarter, ending with 48,842 shares valued at about $5.85 million.
• Several other hedge funds also adjusted their JCI holdings, and institutional investors own 90.05% of the company’s stock overall.
• Analysts remain mixed on JCI: the stock has a consensus Hold rating with an average price target of $147.63, while the shares recently traded around $140.13.

Allstate Corp increased its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 110.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,842 shares of the company's stock after buying an additional 25,605 shares during the period. Allstate Corp's holdings in Johnson Controls International were worth $5,849,000 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 JCI. Brighton Jones LLC bought a new stake in Johnson Controls International during the fourth quarter worth approximately $222,000. Acadian Asset Management LLC bought a new stake in shares of Johnson Controls International in the first quarter valued at approximately $55,000. Sivia Capital Partners LLC boosted its position in shares of Johnson Controls International by 83.3% in the second quarter. Sivia Capital Partners LLC now owns 7,049 shares of the company's stock valued at $745,000 after acquiring an additional 3,203 shares during the period. Jump Financial LLC boosted its position in shares of Johnson Controls International by 3.5% in the second quarter. Jump Financial LLC now owns 12,578 shares of the company's stock valued at $1,328,000 after acquiring an additional 425 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Johnson Controls International by 120.7% in the second quarter. Federated Hermes Inc. now owns 12,359 shares of the company's stock valued at $1,305,000 after acquiring an additional 6,760 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

JCI has been the subject of several research reports. Barclays increased their price objective on Johnson Controls International from $136.00 to $144.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Wells Fargo & Company boosted their price target on Johnson Controls International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Wolfe Research reduced their target price on Johnson Controls International from $161.00 to $160.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. HSBC raised their target price on Johnson Controls International from $127.00 to $136.00 in a research report on Thursday, May 7th. Finally, Evercore started coverage on Johnson Controls International in a research report on Monday, April 13th. They issued a "hold" rating and a $155.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Johnson Controls International has an average rating of "Hold" and a consensus target price of $147.63.

Insider Buying and Selling

In related news, VP Lei Zhang Schlitz sold 88,809 shares of Johnson Controls International stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $140.99, for a total value of $12,521,180.91. Following the completion of the sale, the vice president directly owned 57,059 shares in the company, valued at $8,044,748.41. This trade represents a 60.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Johnson Controls International Stock Up 1.3%

Shares of NYSE JCI opened at $140.13 on Wednesday. The stock has a market cap of $85.50 billion, a PE ratio of 25.07, a PEG ratio of 1.52 and a beta of 1.37. The business has a fifty day moving average of $138.01 and a two-hundred day moving average of $128.68. Johnson Controls International plc has a 52-week low of $98.74 and a 52-week high of $147.32. 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 released its quarterly earnings results on Tuesday, March 31st. The company reported $1.19 earnings per share (EPS) for the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%.The business had revenue of $6.14 billion during the quarter. As a group, equities research analysts expect that Johnson Controls International plc will post 4.87 earnings per share for the current fiscal year.

Johnson Controls International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Monday, March 16th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, March 16th. Johnson Controls International's dividend payout ratio (DPR) is presently 28.62%.

Johnson Controls International Company Profile

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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