Electron Capital Partners LLC Reduces Position in Johnson Controls International plc $JCI

Key Points

• Electron Capital Partners cut its Johnson Controls position by 59.3% in the first quarter, selling 675,690 shares and retaining 463,901 shares valued at approximately $60.7 million.
• Institutional ownership remains substantial at 90.05%, with several major funds—including State Street, Franklin Resources, Fisher Asset Management and Invesco—adding to their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $152.85, compared with the stock’s reported price of $143.35. Johnson Controls also pays a quarterly dividend of $0.40, yielding about 1.1% annually.

Electron Capital Partners LLC lowered its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 59.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 463,901 shares of the company's stock after selling 675,690 shares during the quarter. Johnson Controls International makes up approximately 2.4% of Electron Capital Partners LLC's portfolio, making the stock its 12th biggest position. Electron Capital Partners LLC owned approximately 0.08% of Johnson Controls International worth $60,748,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in shares of Johnson Controls International by 0.6% in the third 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 last quarter. Franklin Resources Inc. raised its stake in Johnson Controls International by 3.3% during the 4th quarter. Franklin Resources Inc. now owns 22,655,105 shares of the company's stock valued at $2,712,949,000 after acquiring an additional 718,245 shares during the last quarter. Fisher Asset Management LLC lifted its position in Johnson Controls International by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 17,239,953 shares of the company's stock worth $2,064,485,000 after acquiring an additional 280,704 shares during the period. Invesco Ltd. grew its stake in shares of Johnson Controls International by 13.0% in 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 during the last quarter. Finally, Norges Bank acquired a new position in shares of Johnson Controls International in the fourth quarter valued at approximately $927,739,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. HSBC raised their target price on shares of Johnson Controls International from $127.00 to $136.00 in a research note on Thursday, May 7th. Robert W. Baird increased their target price on Johnson Controls International from $132.00 to $148.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. Sanford C. Bernstein assumed coverage on Johnson Controls International in a report on Tuesday, June 9th. They issued an "outperform" rating and a $176.00 price target for the company. Jefferies Financial Group upped their price objective on Johnson Controls International from $125.00 to $135.00 and gave the stock a "hold" rating in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group increased their price objective on Johnson Controls International from $169.00 to $178.00 and gave the stock a "buy" rating in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.85.

Insider Buying and Selling at Johnson Controls International

In other news, VP Todd M. Grabowski sold 1,800 shares of the business'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 completion of the transaction, the vice president owned 26,215 shares of the company's stock, valued at $3,832,633. The trade was a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Lei Zhang Schlitz sold 88,809 shares of the firm'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 transaction of $12,521,180.91. Following the sale, the vice president owned 57,059 shares in the company, valued at approximately $8,044,748.41. This trade represents a 60.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is owned by corporate insiders.

Johnson Controls International Stock Down 0.0%

Johnson Controls International stock opened at $143.35 on Tuesday. Johnson Controls International plc has a fifty-two week low of $102.09 and a fifty-two week high of $151.18. The firm has a market capitalization of $87.46 billion, a price-to-earnings ratio of 25.64, a price-to-earnings-growth ratio of 1.54 and a beta of 1.31. The stock's fifty day moving average is $141.96 and its two-hundred day moving average is $136.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.04.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $1.19 earnings per share for the quarter. The firm had revenue of $6.14 billion during the quarter. Johnson Controls International had a net margin of 14.45% and a return on equity of 19.50%. Analysts predict that Johnson Controls International plc will post 4.9 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis 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 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.

Want to see what other hedge funds are holding JCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson Controls International plc (NYSE:JCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.