California Public Employees Retirement System Sells 109,088 Shares of Johnson Controls International plc $JCI

Key Points

• CalPERS reduced its stake in Johnson Controls International by 9.2% in the first quarter, selling 109,088 shares and leaving it with 1,076,676 shares valued at about $141 million. Despite the trim, institutional ownership remains high at 90.05%.
• Several insiders sold shares recently, including VP Todd M. Grabowski and VP Lei Zhang Schlitz. Schlitz’s sale was especially large, totaling 88,809 shares and cutting her position by 60.88%.
• JCI continues to show solid financial and shareholder-return metrics, with quarterly EPS of $1.19, revenue of $6.14 billion, and a quarterly dividend of $0.40 per share. Analysts currently maintain a consensus rating of “Moderate Buy” with an average price target of $152.85.

California Public Employees Retirement System cut its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,076,676 shares of the company's stock after selling 109,088 shares during the period. California Public Employees Retirement System owned 0.18% of Johnson Controls International worth $140,991,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Johnson Controls International in the fourth quarter valued at approximately $927,739,000. Viking Global Investors LP grew its position in 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 last quarter. Ameriprise Financial Inc. increased its holdings in 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 purchasing an additional 2,675,157 shares in the last quarter. Invesco Ltd. increased its holdings in Johnson Controls International by 13.0% during the 4th quarter. Invesco Ltd. now owns 16,003,486 shares of the company's stock valued at $1,916,417,000 after purchasing an additional 1,837,220 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its holdings in Johnson Controls International by 93,932.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,809,184 shares of the company's stock valued at $216,650,000 after purchasing an additional 1,807,260 shares in the last quarter. 90.05% of the stock is owned by institutional investors.

Insider Transactions at Johnson Controls International

In other Johnson Controls International news, 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 directly owned 26,215 shares in the company, valued at approximately $3,832,633. This represents a 6.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Lei Zhang Schlitz sold 88,809 shares of the firm'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 completion of the transaction, the vice president directly owned 57,059 shares in the company, valued at $8,044,748.41. This trade represents a 60.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.29% of the company's stock.

Johnson Controls International Stock Down 0.6%

NYSE JCI opened at $140.45 on Friday. The stock has a market capitalization of $85.69 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.51 and a beta of 1.31. Johnson Controls International plc has a 52 week low of $102.09 and a 52 week high of $151.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.04. The stock has a fifty day moving average of $141.92 and a 200-day moving average of $135.28.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.19 earnings per share (EPS) for the quarter. The business had revenue of $6.14 billion for the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%. On average, equities research analysts forecast that Johnson Controls International plc will post 4.9 EPS for the current year.

Johnson Controls International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were 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 of this dividend was Monday, June 15th. Johnson Controls International's payout ratio is currently 28.62%.

Analyst Ratings Changes

A number of equities analysts have commented on JCI shares. Oppenheimer reissued a "market perform" rating on shares of Johnson Controls International in a research note on Tuesday, June 2nd. BNP Paribas Exane began coverage on Johnson Controls International in a research note on Tuesday, April 14th. They issued an "underperform" rating and a $120.00 target price for the company. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $154.00 price target on shares of Johnson Controls International in a report on Tuesday, June 2nd. Morgan Stanley upped their price target on shares of Johnson Controls International from $140.00 to $175.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 9th. Finally, UBS Group increased their price objective on shares of Johnson Controls International from $170.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $152.85.

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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