Cornerstone Enterprises LLC Sells 13,588 Shares of Johnson Controls International plc $JCI

Key Points

• Cornerstone Enterprises LLC cut its Johnson Controls stake by 77.7% in the third quarter, selling 13,588 shares and retaining 3,908 shares valued at approximately $581,000. Institutional investors collectively own 90.05% of JCI.
• Analyst sentiment remains broadly positive, with JCI carrying a “Moderate Buy” consensus rating and an average price target of $163.05, despite some analysts maintaining neutral ratings.
• Johnson Controls reported quarterly earnings of $1.42 per share, exceeding estimates, while revenue rose 9.3% year over year to $6.61 billion. The company also declared a quarterly dividend of $0.40 per share, representing a 1.1% annualized yield.

Cornerstone Enterprises LLC trimmed its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 77.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,908 shares of the company's stock after selling 13,588 shares during the quarter. Cornerstone Enterprises LLC's holdings in Johnson Controls International were worth $581,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in JCI. V Square Quantitative Management LLC grew its holdings in Johnson Controls International by 3.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 15,997 shares of the company's stock valued at $2,378,000 after buying an additional 544 shares in the last quarter. AdvisorNet Financial Inc lifted its holdings in shares of Johnson Controls International by 1.6% in the third quarter. AdvisorNet Financial Inc now owns 31,499 shares of the company's stock worth $4,802,000 after buying an additional 483 shares in the last quarter. Harrell Investment Partners LLC boosted its position in shares of Johnson Controls International by 0.7% in the third quarter. Harrell Investment Partners LLC now owns 44,908 shares of the company's stock valued at $6,676,000 after acquiring an additional 309 shares during the period. Community Financial Services Group LLC boosted its position in shares of Johnson Controls International by 18.3% in the third quarter. Community Financial Services Group LLC now owns 581 shares of the company's stock valued at $88,000 after acquiring an additional 90 shares during the period. Finally, HBW Advisory Services LLC boosted its position in shares of Johnson Controls International by 3.8% in the third quarter. HBW Advisory Services LLC now owns 2,483 shares of the company's stock valued at $369,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Buying and Selling at Johnson Controls International

In related news, VP Lei Schlitz sold 23,417 shares of the company'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 value of $3,584,440.19. Following the transaction, the vice president directly owned 15,017 shares in the company, valued at approximately $2,298,652.19. This represents a 60.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on JCI shares. Zacks Research cut shares of Johnson Controls International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Bank of America upped their target price on shares of Johnson Controls International from $152.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, October 8th. Citigroup increased their target price on shares of Johnson Controls International from $157.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday. UBS Group reissued a "buy" rating on shares of Johnson Controls International in a report on Wednesday, September 16th. Finally, Mizuho raised their price target on shares of Johnson Controls International from $150.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $163.05.

Johnson Controls International Price Performance

Johnson Controls International stock opened at $147.46 on Friday. The stock has a market cap of $89.32 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.14 and a beta of 1.27. The company has a quick ratio of 0.83, a current ratio of 1.00 and a debt-to-equity ratio of 0.61. The business has a 50-day simple moving average of $147.50 and a 200 day simple moving average of $143.64. Johnson Controls International plc has a 52 week low of $107.77 and a 52 week high of $160.41.

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

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend 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 presently 27.83%.

About Johnson Controls International

Johnson Controls International plc NYSE: JCI is a global provider of building technology, products and services. The company helps commercial, institutional and industrial customers improve building performance, energy efficiency, safety and occupant comfort through integrated solutions.

Its offerings include heating, ventilation and air-conditioning systems; building automation and controls; fire detection and suppression equipment; security systems; energy management technologies; and related service, maintenance and digital solutions.

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