Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Stock Position in Johnson Controls International plc $JCI

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in Johnson Controls International by 42.8%, selling 58,500 shares to own 78,238 shares valued at approximately $6.27 million.
• Multiple institutional investors have increased their stakes in Johnson Controls, including Allspring Global Investments Holdings which grew its stake by an astounding 2,213.5%, now owning 709,431 shares worth about $57.75 million.
• Analyst ratings for Johnson Controls show a mix of upgrades, with Deutsche Bank and Goldman Sachs raising their price targets, indicating a consensus rating of "Hold" with an average target price of $105.17.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 42.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,238 shares of the company's stock after selling 58,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Johnson Controls International were worth $6,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JCI. Nuveen LLC acquired a new stake in Johnson Controls International during the 1st quarter worth $219,110,000. GAMMA Investing LLC raised its stake in Johnson Controls International by 10,137.2% during the 1st quarter. GAMMA Investing LLC now owns 1,179,219 shares of the company's stock worth $94,467,000 after acquiring an additional 1,167,700 shares in the last quarter. Northern Trust Corp raised its stake in Johnson Controls International by 18.1% during the 4th quarter. Northern Trust Corp now owns 6,690,781 shares of the company's stock worth $528,103,000 after acquiring an additional 1,026,623 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Johnson Controls International by 65.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,560,645 shares of the company's stock worth $202,112,000 after acquiring an additional 1,012,067 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Johnson Controls International in the fourth quarter valued at $78,625,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on JCI shares. Wells Fargo & Company lifted their price objective on shares of Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. lifted their price objective on shares of Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Jefferies Financial Group restated a "hold" rating and issued a $120.00 price objective on shares of Johnson Controls International in a research note on Thursday, July 24th. Morgan Stanley lifted their price objective on shares of Johnson Controls International from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group lifted their price objective on shares of Johnson Controls International from $103.00 to $116.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $105.17.

Insider Transactions at Johnson Controls International

In related news, VP Anuruddha Rathninde sold 15,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the sale, the vice president owned 42,574 shares of the company's stock, valued at approximately $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Nathan D. Manning sold 1,422 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $103.69, for a total transaction of $147,447.18. Following the sale, the vice president directly owned 140,881 shares in the company, valued at approximately $14,607,950.89. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,266 shares of company stock worth $1,986,931. 0.54% of the stock is owned by insiders.

Johnson Controls International Stock Performance

Shares of Johnson Controls International stock traded down $1.2430 on Tuesday, reaching $104.4670. 5,170,041 shares of the stock were exchanged, compared to its average volume of 4,770,138. Johnson Controls International plc has a 1-year low of $67.68 and a 1-year high of $112.63. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average price of $105.64 and a two-hundred day moving average price of $92.97. The firm has a market capitalization of $68.36 billion, a PE ratio of 31.00, a PEG ratio of 1.84 and a beta of 1.30.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.99 billion. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. As a group, research analysts anticipate that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, June 23rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.4%. Johnson Controls International's payout ratio is currently 43.92%.

Johnson Controls International announced that its board has approved a share repurchase program on Friday, June 13th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

About Johnson Controls International

Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products and systems in the United States, Europe, the Asia Pacific, and internationally. It operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.