Baird Financial Group Inc. Has $36.20 Million Stock Position in Johnson Controls International plc $JCI

Key Points

• Baird Financial Group increased its Johnson Controls stake by 25.2% in the second quarter, bringing its holdings to 247,723 shares valued at approximately $36.2 million. Institutional investors and hedge funds collectively own 90.05% of JCI.
• Johnson Controls exceeded quarterly expectations, reporting $1.42 in adjusted EPS and $6.61 billion in revenue, with revenue rising 9.3% year over year.
• Analyst sentiment is mixed but leans positive, with 12 Buy, 10 Hold and one Sell rating; the average price target is $155.75 versus a recent share price of $142.95. The company also declared a quarterly dividend of $0.40 per share, yielding about 1.1% annually.

Baird Financial Group Inc. boosted its position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 25.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 247,723 shares of the company's stock after purchasing an additional 49,935 shares during the period. Baird Financial Group Inc.'s holdings in Johnson Controls International were worth $36,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in Johnson Controls International by 13,757.3% during the 2nd quarter. California State Teachers Retirement System now owns 135,035,593 shares of the company's stock worth $19,730,050,000 after acquiring an additional 134,061,119 shares during the last quarter. Norges Bank bought a new position in Johnson Controls International in the 4th quarter valued at $927,739,000. Viking Global Investors LP boosted its stake in Johnson Controls International by 368.5% in the third quarter. Viking Global Investors LP now owns 6,796,942 shares of the company's stock worth $747,324,000 after purchasing an additional 5,346,130 shares in the last quarter. Amundi boosted its stake in Johnson Controls International by 157.2% in the first quarter. Amundi now owns 5,965,212 shares of the company's stock worth $781,145,000 after purchasing an additional 3,646,047 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Johnson Controls International by 140.8% in the second quarter. Ameriprise Financial Inc. now owns 4,575,414 shares of the company's stock worth $483,281,000 after purchasing an additional 2,675,157 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

JCI has been the subject of a number of research reports. Sanford C. Bernstein raised their target price on Johnson Controls International from $173.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Oppenheimer reiterated a "market perform" rating on shares of Johnson Controls International in a research report on Tuesday, June 2nd. Zacks Research lowered shares of Johnson Controls International from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Argus set a $175.00 price objective on shares of Johnson Controls International in a research report on Friday, August 7th. Finally, Morgan Stanley raised their price objective on shares of Johnson Controls International from $175.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, September 2nd. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $155.75.

Johnson Controls International Price Performance

Shares of JCI stock opened at $142.95 on Friday. The firm's 50 day moving average price is $144.81 and its two-hundred day moving average price is $141.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 1.00. Johnson Controls International plc has a 52-week low of $104.49 and a 52-week high of $157.06. The stock has a market cap of $86.59 billion, a PE ratio of 24.86, a PEG ratio of 1.39 and a beta of 1.29.

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

Johnson Controls International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Monday, September 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $1.60 annualized dividend and a yield of 1.1%. Johnson Controls International's dividend payout ratio is presently 27.83%.

Insiders Place Their Bets

In other Johnson Controls International news, VP Lei Schlitz sold 23,417 shares of the firm's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $153.07, for a total transaction of $3,584,440.19. Following the transaction, the vice president owned 15,017 shares in the company, valued at approximately $2,298,652.19. This trade represents a 60.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.29% of the company's stock.

Johnson Controls International Profile

Johnson Controls International plc NYSE: JCI is a global company focused on building technologies and solutions that improve the efficiency, safety and sustainability of buildings. Its offerings include heating, ventilation and air-conditioning systems, building automation and controls, fire detection and suppression equipment, security systems, and related digital technologies and services.

The company serves commercial, institutional, industrial and residential customers, helping organizations manage building operations, energy use, indoor air quality and physical security.

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