Atria Investments Inc Decreases Holdings in Johnson Controls International plc $JCI

Key Points

• Atria Investments cut its Johnson Controls stake by 35.6% in the second quarter, selling 9,790 shares and retaining 17,731 shares valued at approximately $2.6 million. Institutional investors collectively own 90.05% of JCI.
• Johnson Controls reported stronger-than-expected quarterly results, with EPS of $1.42 versus the $1.30 consensus and revenue of $6.61 billion, up 9.3% year over year.
• JCI traded at $151.47, near its 52-week high, while analysts maintained a “Moderate Buy” consensus rating with an average price target of $154.80; the company also pays a quarterly dividend of $0.40 per share.

Atria Investments Inc decreased its stake in Johnson Controls International plc (NYSE:JCI - Free Report) by 35.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,731 shares of the company's stock after selling 9,790 shares during the period. Atria Investments Inc's holdings in Johnson Controls International were worth $2,591,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Johnson Controls International in the fourth quarter valued at $927,739,000. Viking Global Investors LP grew its stake in shares of Johnson Controls International by 368.5% during the 3rd quarter. Viking Global Investors LP now owns 6,796,942 shares of the company's stock worth $747,324,000 after acquiring an additional 5,346,130 shares during the period. Amundi increased its holdings in Johnson Controls International by 157.2% in the 1st quarter. Amundi now owns 5,965,212 shares of the company's stock worth $781,145,000 after acquiring an additional 3,646,047 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Johnson Controls International by 140.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,575,414 shares of the company's stock worth $483,281,000 after acquiring an additional 2,675,157 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Johnson Controls International by 13.0% in the 4th quarter. Invesco Ltd. now owns 16,003,486 shares of the company's stock worth $1,916,417,000 after acquiring an additional 1,837,220 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Johnson Controls International Trading Down 0.9%

Shares of JCI opened at $151.47 on Friday. Johnson Controls International plc has a 1-year low of $103.07 and a 1-year high of $157.06. The company has a market capitalization of $91.75 billion, a P/E ratio of 26.34, a P/E/G ratio of 1.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.00 and a quick ratio of 0.83. The firm's 50 day simple moving average is $144.71 and its 200 day simple moving average is $139.65.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.12. Johnson Controls International had a net margin of 14.32% and a return on equity of 22.11%. The firm had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. Sell-side analysts forecast that Johnson Controls International plc will post 5.08 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, July 10th. Investors of record on Monday, June 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, June 15th. Johnson Controls International's dividend payout ratio (DPR) is currently 27.83%.

Insider Buying and Selling

In other news, VP Todd M. Grabowski sold 1,800 shares of the business'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 completion of the sale, the vice president directly owned 26,215 shares in the company, valued at approximately $3,832,633. The trade was a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Lei Zhang Schlitz sold 23,417 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $153.07, for a total transaction of $3,584,440.19. Following the completion of the sale, the vice president directly owned 15,017 shares of the company's stock, valued at $2,298,652.19. This trade represents a 60.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.29% of the company's stock.

Analyst Ratings Changes

JCI has been the subject of a number of research reports. Zacks Research lowered shares of Johnson Controls International from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 6th. Wolfe Research reissued an "outperform" rating and issued a $171.00 price target on shares of Johnson Controls International in a research report on Wednesday, June 3rd. Oppenheimer restated a "market perform" rating on shares of Johnson Controls International in a research note on Tuesday, June 2nd. Barclays raised their price objective on shares of Johnson Controls International from $136.00 to $144.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Finally, HSBC lifted their price objective on shares of Johnson Controls International from $127.00 to $136.00 in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Johnson Controls International currently has an average rating of "Moderate Buy" and a consensus target price of $154.80.

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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