Easterly Investment Partners LLC Has $6.17 Million Stake in Johnson Controls International plc $JCI

Key Points

• Easterly Investment Partners cut its Johnson Controls International position by 13% in the fourth quarter, leaving it with 51,487 shares worth about $6.17 million.
• Institutional ownership remains high, with about 90.05% of JCI shares held by hedge funds and other institutional investors, even as several funds recently adjusted their stakes.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating, but recent target-price increases and upgrades have pushed the average price target to $147.63.

Easterly Investment Partners LLC reduced its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 13.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 51,487 shares of the company's stock after selling 7,698 shares during the period. Easterly Investment Partners LLC's holdings in Johnson Controls International were worth $6,166,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its stake in shares of Johnson Controls International by 0.6% in the 3rd quarter. State Street Corp now owns 28,684,645 shares of the company's stock valued at $3,165,286,000 after buying an additional 163,167 shares during the period. Fisher Asset Management LLC grew its stake in shares of Johnson Controls International by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 17,239,953 shares of the company's stock worth $2,064,485,000 after purchasing an additional 280,704 shares during the period. Norges Bank acquired a new stake in shares of Johnson Controls International during the fourth quarter worth $927,739,000. Capital World Investors grew its stake in shares of Johnson Controls International by 0.3% during the third quarter. Capital World Investors now owns 7,535,476 shares of the company's stock worth $828,526,000 after purchasing an additional 19,550 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Johnson Controls International by 1.1% during the third quarter. Northern Trust Corp now owns 6,907,287 shares of the company's stock worth $759,456,000 after purchasing an additional 72,917 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on JCI. Jefferies Financial Group lifted their price objective on Johnson Controls International from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, April 15th. Rothschild & Co Redburn lifted their target price on Johnson Controls International from $137.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, February 9th. Wall Street Zen upgraded Johnson Controls International from a "hold" rating to a "buy" rating in a report on Sunday, May 3rd. Evercore started coverage on Johnson Controls International in a report on Monday, April 13th. They set a "hold" rating and a $155.00 target price on the stock. Finally, Wolfe Research reduced their target price on Johnson Controls International from $161.00 to $160.00 and set an "outperform" rating on the stock in a report on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $147.63.

Insider Activity at Johnson Controls International

In other news, VP Lei Zhang Schlitz sold 88,809 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $140.99, for a total value of $12,521,180.91. Following the transaction, the vice president owned 57,059 shares of the company's stock, valued at approximately $8,044,748.41. This represents a 60.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company's stock.

Johnson Controls International Price Performance

NYSE:JCI opened at $134.05 on Monday. 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 stock's 50 day moving average price is $138.21 and its two-hundred day moving average price is $128.97. The firm has a market capitalization of $81.78 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.45 and a beta of 1.33. Johnson Controls International plc has a 12-month low of $99.11 and a 12-month high of $147.32.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.19 earnings per share (EPS) for the quarter. The firm 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, analysts anticipate that Johnson Controls International plc will post 4.86 earnings per share for the current year.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Monday, March 16th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Johnson Controls International's dividend payout ratio is presently 28.62%.

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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