Clifford Swan Investment Counsel LLC Lowers Stake in Johnson Controls International plc $JCI

Key Points

• Clifford Swan Investment Counsel LLC trimmed its Johnson Controls International stake by 2.9% in the first quarter, selling 8,498 shares and leaving it with 280,272 shares valued at about $36.7 million.
• Insider selling was notable: VP Todd M. Grabowski sold 1,800 shares, and VP Lei Zhang Schlitz sold 88,809 shares, while insiders collectively own just 0.29% of the stock.
• Johnson Controls recently reported quarterly EPS of $1.19 and paid a $0.40 dividend, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $152.85.

Clifford Swan Investment Counsel LLC lessened its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,272 shares of the company's stock after selling 8,498 shares during the period. Johnson Controls International comprises 1.2% of Clifford Swan Investment Counsel LLC's portfolio, making the stock its 19th largest holding. Clifford Swan Investment Counsel LLC's holdings in Johnson Controls International were worth $36,702,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Heartland Bank & Trust Co raised its holdings in Johnson Controls International by 3.3% in the 1st quarter. Heartland Bank & Trust Co now owns 9,008 shares of the company's stock valued at $1,180,000 after acquiring an additional 290 shares during the last quarter. Kera Capital Partners Inc. lifted its stake in shares of Johnson Controls International by 30.0% during the 1st quarter. Kera Capital Partners Inc. now owns 6,534 shares of the company's stock worth $856,000 after purchasing an additional 1,506 shares during the period. Modera Wealth Management LLC boosted its holdings in shares of Johnson Controls International by 32.2% during the first quarter. Modera Wealth Management LLC now owns 3,140 shares of the company's stock worth $411,000 after purchasing an additional 765 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Johnson Controls International by 5.8% during the first quarter. Assetmark Inc. now owns 16,739 shares of the company's stock worth $2,192,000 after purchasing an additional 915 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its position in shares of Johnson Controls International by 15.8% in the first quarter. Angeles Wealth Management LLC now owns 4,110 shares of the company's stock valued at $540,000 after purchasing an additional 561 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Activity

In related news, VP Todd M. Grabowski sold 1,800 shares of the firm's 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 transaction, the vice president owned 26,215 shares in the company, valued at approximately $3,832,633. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the vice president directly owned 57,059 shares in the company, valued at approximately $8,044,748.41. This trade represents a 60.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.29% of the company's stock.

Johnson Controls International Trading Down 0.6%

JCI stock opened at $140.45 on Friday. The company has a market cap of $85.69 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.51 and a beta of 1.31. 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 business has a fifty day simple moving average of $141.92 and a 200-day simple moving average of $135.28. Johnson Controls International plc has a 52 week low of $102.09 and a 52 week high of $151.18.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $1.19 earnings per share for the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%.The firm had revenue of $6.14 billion for the quarter. On average, equities research analysts expect 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. Stockholders of record on Monday, June 15th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend 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

Several equities analysts recently commented on the company. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $154.00 target price on shares of Johnson Controls International in a research note on Tuesday, June 2nd. Wolfe Research reissued an "outperform" rating and issued a $171.00 price target on shares of Johnson Controls International in a research note on Wednesday, June 3rd. Citigroup lifted their price target on Johnson Controls International from $150.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Johnson Controls International in a research note on Tuesday, June 9th. Finally, Morgan Stanley increased 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, June 9th. Two 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 issued a Sell rating to the stock. According to MarketBeat, Johnson Controls International presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.85.

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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