Balyasny Asset Management L.P. Acquires 1,807,260 Shares of Johnson Controls International plc $JCI

Key Points

• Balyasny Asset Management massively increased its stake in Johnson Controls International, buying 1,807,260 shares in the fourth quarter and bringing its total holdings to 1,809,184 shares, worth about $216.7 million.
• Other major institutional investors also expanded positions in JCI, including Norges Bank, Viking Global, and Ameriprise, underscoring strong hedge fund and institutional interest in the stock.
• Wall Street sentiment remains positive overall, with analysts giving JCI a Moderate Buy consensus and a price target of $152.85, while the company also recently declared a quarterly dividend of $0.40 per share.

Balyasny Asset Management L.P. grew its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 93,932.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,809,184 shares of the company's stock after acquiring an additional 1,807,260 shares during the period. Balyasny Asset Management L.P. owned about 0.30% of Johnson Controls International worth $216,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of JCI. Norges Bank purchased a new position in shares of Johnson Controls International during the 4th quarter valued at $927,739,000. Viking Global Investors LP lifted 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 valued at $747,324,000 after buying an additional 5,346,130 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Johnson Controls International by 140.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,575,414 shares of the company's stock valued at $483,281,000 after buying an additional 2,675,157 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Johnson Controls International by 27.6% during the 4th quarter. First Trust Advisors LP now owns 4,490,828 shares of the company's stock valued at $537,777,000 after buying an additional 971,104 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Johnson Controls International by 3.3% during the 4th quarter. Franklin Resources Inc. now owns 22,655,105 shares of the company's stock valued at $2,712,949,000 after buying an additional 718,245 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

JCI has been the topic of a number of analyst reports. HSBC lifted their target price on shares of Johnson Controls International from $127.00 to $136.00 in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Johnson Controls International from a "hold" rating to a "buy" rating in a research note on Sunday, May 3rd. Wolfe Research restated an "outperform" rating and set a $171.00 target price on shares of Johnson Controls International in a research note on Wednesday, June 3rd. UBS Group lifted their target price on shares of Johnson Controls International from $170.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Finally, Robert W. Baird lifted their target price 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $152.85.

Johnson Controls International Stock Performance

Johnson Controls International stock opened at $143.80 on Thursday. The company's 50-day moving average price is $141.12 and its 200-day moving average price is $131.46. Johnson Controls International plc has a twelve month low of $100.86 and a twelve month high of $149.23. The company has a quick ratio of 0.85, a current ratio of 1.04 and a debt-to-equity ratio of 0.64. The company has a market cap of $87.74 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 1.56 and a beta of 1.32.

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

Johnson Controls International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, June 15th. Johnson Controls International's dividend payout ratio is presently 28.62%.

Insider Activity

In related news, VP Lei Zhang Schlitz sold 88,809 shares of the company's stock in a transaction dated 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 transaction, the vice president directly owned 57,059 shares in the company, valued at approximately $8,044,748.41. This represents a 60.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Todd M. Grabowski sold 1,800 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $146.20, for a total transaction of $263,160.00. Following the transaction, the vice president owned 26,215 shares in the company, valued at $3,832,633. The trade was a 6.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.29% of the company's stock.

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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