Axxcess Wealth Management LLC Acquires Shares of 46,590 Johnson Controls International plc $JCI

Key Points

• Axxcess Wealth Management acquired 46,590 Johnson Controls shares worth approximately $6.8 million, while institutional investors collectively own 90.05% of the company.
• Johnson Controls reported quarterly EPS of $1.42, topping estimates of $1.30, with revenue rising 9.3% year over year to $6.61 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $154.80.
• The stock opened at $151.47, near its 52-week high of $157.06. The company also maintains a quarterly dividend of $0.40 per share, equivalent to a 1.1% yield.

Axxcess Wealth Management LLC bought a new stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 46,590 shares of the company's stock, valued at approximately $6,807,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Angeles Wealth Management LLC grew its position in Johnson Controls International by 9.3% during the 2nd quarter. Angeles Wealth Management LLC now owns 4,492 shares of the company's stock worth $658,000 after purchasing an additional 382 shares during the period. Bosman Wealth Management LLC raised its stake in shares of Johnson Controls International by 365.6% during the 2nd quarter. Bosman Wealth Management LLC now owns 9,488 shares of the company's stock valued at $1,386,000 after buying an additional 7,450 shares during the last quarter. Bay Harbor Wealth Management LLC boosted its position in Johnson Controls International by 750.5% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 876 shares of the company's stock worth $128,000 after purchasing an additional 773 shares in the last quarter. Baldwin Investment Management LLC increased its holdings in shares of Johnson Controls International by 27.6% during the 2nd quarter. Baldwin Investment Management LLC now owns 4,419 shares of the company's stock valued at $646,000 after purchasing an additional 955 shares in the last quarter. Finally, Navalign LLC lifted its stake in shares of Johnson Controls International by 1.1% in the 2nd quarter. Navalign LLC now owns 15,075 shares of the company's stock valued at $2,203,000 after purchasing an additional 170 shares during the period. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Weiss Ratings restated a "buy (b)" rating on shares of Johnson Controls International in a research report on Tuesday, June 9th. UBS Group reaffirmed a "buy" rating on shares of Johnson Controls International in a research note on Thursday, July 30th. Wolfe Research reiterated an "outperform" rating and issued a $171.00 target price on shares of Johnson Controls International in a research report on Wednesday, June 3rd. HSBC upped their price target on shares of Johnson Controls International from $127.00 to $136.00 in a research report on Thursday, May 7th. Finally, Robert W. Baird raised their price target on shares of Johnson Controls International from $132.00 to $148.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Johnson Controls International has an average rating of "Moderate Buy" and an average target price of $154.80.

Johnson Controls International Trading Down 0.9%

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

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.12. Johnson Controls International had a return on equity of 22.11% and a net margin of 14.32%.The business had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.46 billion. During the same period in the prior year, the business earned $1.05 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. Analysts expect that Johnson Controls International plc will post 5.08 EPS for the current fiscal year.

Johnson Controls International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, June 15th. Johnson Controls International's dividend payout ratio (DPR) is presently 27.83%.

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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