Jennison Associates LLC Grows Holdings in Johnson Controls International plc $JCI

Key Points

• Jennison Associates LLC boosted its stake in Johnson Controls International by 67.4% in the first quarter, ending with 1,154,315 shares worth about $151.2 million.
• Wall Street sentiment remains mostly positive: analysts currently rate JCI as a Moderate Buy with an average price target of $152.85.
• Johnson Controls reported quarterly EPS of $1.19 on $6.14 billion in revenue, and it recently paid a $0.40 quarterly dividend (1.1% annualized yield).

Jennison Associates LLC increased its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 67.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,154,315 shares of the company's stock after acquiring an additional 464,874 shares during the quarter. Jennison Associates LLC owned about 0.19% of Johnson Controls International worth $151,158,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of JCI. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Johnson Controls International by 6.9% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,257 shares of the company's stock worth $165,000 after purchasing an additional 81 shares during the period. Heartland Bank & Trust Co lifted its holdings in shares of Johnson Controls International by 3.3% during the first quarter. Heartland Bank & Trust Co now owns 9,008 shares of the company's stock valued at $1,180,000 after purchasing an additional 290 shares during the last quarter. Kera Capital Partners Inc. boosted its position in shares of Johnson Controls International by 30.0% in the 1st quarter. Kera Capital Partners Inc. now owns 6,534 shares of the company's stock worth $856,000 after purchasing an additional 1,506 shares in the last quarter. Modera Wealth Management LLC boosted its position in shares of Johnson Controls International by 32.2% in the 1st quarter. Modera Wealth Management LLC now owns 3,140 shares of the company's stock worth $411,000 after purchasing an additional 765 shares in the last quarter. Finally, Assetmark Inc. grew its stake in shares of Johnson Controls International by 5.8% in the 1st quarter. Assetmark Inc. now owns 16,739 shares of the company's stock worth $2,192,000 after buying an additional 915 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Oppenheimer reiterated a "market perform" rating on shares of Johnson Controls International in a research note on Tuesday, June 2nd. The Goldman Sachs Group increased their target price on Johnson Controls International from $169.00 to $178.00 and gave the stock a "buy" rating in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of Johnson Controls International from a "hold" rating to a "buy" rating in a research note on Sunday, May 3rd. BNP Paribas Exane assumed coverage on shares of Johnson Controls International in a research report on Tuesday, April 14th. They set an "underperform" rating and a $120.00 price objective on the stock. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Johnson Controls International in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $152.85.

Johnson Controls International Stock Down 0.6%

Johnson Controls International stock opened at $140.45 on Friday. The firm has a market cap of $85.69 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.51 and a beta of 1.31. The stock has a fifty day simple moving average of $141.92 and a two-hundred day simple moving average of $135.28. Johnson Controls International plc has a 12 month low of $102.09 and a 12 month high of $151.18. The company has a current ratio of 1.04, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly 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 return on equity of 19.50% and a net margin of 14.45%. Equities analysts predict that Johnson Controls International plc will post 4.9 EPS for the current fiscal year.

Johnson Controls International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Johnson Controls International's payout ratio is 28.62%.

Insider Activity

In other news, VP Lei Zhang Schlitz sold 88,809 shares of Johnson Controls International stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $140.99, for a total value of $12,521,180.91. Following the completion of the sale, the vice president directly owned 57,059 shares in the company, valued at $8,044,748.41. The trade was a 60.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Todd M. Grabowski sold 1,800 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $146.20, for a total transaction of $263,160.00. Following the transaction, the vice president owned 26,215 shares in the company, valued at approximately $3,832,633. This trade represents a 6.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is currently owned by corporate insiders.

About Johnson Controls International

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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