Corient Private Wealth LP Sells 62,097 Shares of Johnson Controls International plc $JCI

Key Points

• Corient Private Wealth LP reduced its Johnson Controls stake by 17.4%, selling 62,097 shares and retaining 294,818 shares valued at approximately $43.1 million. Institutional investors collectively own 90.05% of JCI.
• Analyst sentiment remains mixed: Morgan Stanley and Goldman Sachs raised their price targets and maintained bullish ratings, while the broader analyst consensus is “Hold” with a $155.75 price target.
• Johnson Controls beat quarterly expectations with EPS of $1.42 versus $1.30 expected and revenue of $6.61 billion, up 9.3% year over year. The company also declared a quarterly dividend of $0.40 per share, representing a 1.1% yield.

Corient Private Wealth LP lessened its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 17.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 294,818 shares of the company's stock after selling 62,097 shares during the period. Corient Private Wealth LP's holdings in Johnson Controls International were worth $43,076,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Brighton Jones LLC bought a new stake in Johnson Controls International during the fourth quarter worth about $222,000. Acadian Asset Management LLC acquired a new position in shares of Johnson Controls International in the 1st quarter worth approximately $55,000. Sivia Capital Partners LLC boosted its holdings in shares of Johnson Controls International by 83.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 7,049 shares of the company's stock worth $745,000 after acquiring an additional 3,203 shares in the last quarter. Jump Financial LLC grew its position in Johnson Controls International by 3.5% during the 2nd quarter. Jump Financial LLC now owns 12,578 shares of the company's stock worth $1,328,000 after acquiring an additional 425 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Johnson Controls International by 120.7% during the 2nd quarter. Federated Hermes Inc. now owns 12,359 shares of the company's stock worth $1,305,000 after acquiring an additional 6,760 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Analysts Set New Price Targets

JCI has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Johnson Controls International from $175.00 to $180.00 and gave the company an "overweight" rating in a research report on Wednesday, September 2nd. UBS Group restated a "buy" rating on shares of Johnson Controls International in a report on Thursday, July 30th. Royal Bank Of Canada raised their target price on Johnson Controls International from $154.00 to $161.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Citigroup raised their target price on Johnson Controls International from $155.00 to $157.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Finally, The Goldman Sachs Group lifted their price target on Johnson Controls International from $169.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Twelve research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $155.75.

Insider Buying and Selling at Johnson Controls International

In related news, VP Lei Schlitz sold 23,417 shares of the business's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $153.07, for a total transaction of $3,584,440.19. Following the completion of the sale, the vice president directly owned 15,017 shares of the company's stock, valued at $2,298,652.19. The trade was a 60.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Johnson Controls International Trading Up 2.3%

JCI stock opened at $146.12 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.00 and a debt-to-equity ratio of 0.61. Johnson Controls International plc has a twelve month low of $104.49 and a twelve month high of $157.06. The company has a market cap of $88.51 billion, a P/E ratio of 25.41, a PEG ratio of 1.40 and a beta of 1.29. The business has a fifty day moving average of $144.92 and a 200-day moving average of $141.41.

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

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, September 21st will be given a dividend of $0.40 per share. The ex-dividend date is Monday, September 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Johnson Controls International's payout ratio is currently 27.83%.

Johnson Controls International Company 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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