Bristlecone Value Partners LLC Takes Position in Johnson Controls International plc $JCI

Key Points

• Bristlecone Value Partners bought a new stake in Johnson Controls International in the fourth quarter, acquiring 11,881 shares worth about $1.42 million. The stock now makes up about 1.6% of the firm’s portfolio.
• Wall Street remains broadly constructive on JCI, with several firms raising price targets and the consensus rating at Moderate Buy. The average price target is $152.85, above the stock’s recent price of $144.83.
• Johnson Controls reported Q1 EPS of $1.19 on revenue of $6.14 billion and announced a quarterly dividend of $0.40 per share. The dividend implies an annual yield of about 1.1%.

Bristlecone Value Partners LLC purchased a new stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,881 shares of the company's stock, valued at approximately $1,423,000. Johnson Controls International comprises about 1.6% of Bristlecone Value Partners LLC's portfolio, making the stock its 17th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Maseco LLP boosted its holdings in shares of Johnson Controls International by 102.9% in the fourth quarter. Maseco LLP now owns 211 shares of the company's stock worth $25,000 after buying an additional 107 shares during the last quarter. Roxbury Financial LLC boosted its holdings in shares of Johnson Controls International by 71.9% in the fourth quarter. Roxbury Financial LLC now owns 239 shares of the company's stock worth $29,000 after buying an additional 100 shares during the last quarter. Twin Tree Management LP boosted its holdings in shares of Johnson Controls International by 140.9% in the fourth quarter. Twin Tree Management LP now owns 260 shares of the company's stock worth $31,000 after buying an additional 895 shares during the last quarter. YANKCOM Partnership purchased a new position in shares of Johnson Controls International in the fourth quarter worth approximately $34,000. Finally, Dunhill Financial LLC boosted its holdings in shares of Johnson Controls International by 123.3% in the third quarter. Dunhill Financial LLC now owns 335 shares of the company's stock worth $37,000 after buying an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analyst Weigh In

JCI has been the topic of a number of research reports. Wolfe Research reissued an "outperform" rating and issued a $171.00 price objective on shares of Johnson Controls International in a report on Wednesday, June 3rd. The Goldman Sachs Group raised their price objective on shares of Johnson Controls International from $169.00 to $178.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Sanford C. Bernstein initiated coverage on shares of Johnson Controls International in a report on Tuesday. They issued an "outperform" rating and a $176.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Johnson Controls International from $140.00 to $175.00 and gave the stock an "overweight" rating in a report on Tuesday. Finally, BNP Paribas Exane initiated coverage on shares of Johnson Controls International in a report on Tuesday, April 14th. They issued an "underperform" rating and a $120.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.85.

Johnson Controls International Price Performance

NYSE JCI opened at $144.83 on Friday. Johnson Controls International plc has a 12 month low of $100.86 and a 12 month high of $149.10. The stock has a market cap of $88.36 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.57 and a beta of 1.32. The company's 50 day moving average is $140.40 and its two-hundred day moving average is $130.73. The company has a current ratio of 1.04, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $1.19 EPS for the quarter. Johnson Controls International had a net margin of 14.45% and a return on equity of 19.50%. The company had revenue of $6.14 billion for the quarter. As a group, research analysts anticipate that Johnson Controls International plc will post 4.86 earnings per share for the current year.

Johnson Controls International Dividend Announcement

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

Insider Buying and Selling

In other news, VP Lei Zhang Schlitz sold 88,809 shares of Johnson Controls International stock in a transaction that occurred on 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 sale, the vice president 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Todd M. Grabowski sold 1,800 shares of Johnson Controls International stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $146.20, for a total transaction of $263,160.00. Following the sale, the vice president owned 26,215 shares in the company, valued at approximately $3,832,633. The trade was a 6.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is currently owned by company insiders.

Johnson Controls International 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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