Johnson Controls International plc $JCI Shares Sold by Clifford Swan Investment Counsel LLC

Key Points

• Clifford Swan Investment Counsel cut its Johnson Controls stake by 6.4% in the second quarter, selling 18,064 shares and retaining 262,208 shares valued at approximately $38.3 million. Institutional investors collectively own 90.05% of the company.
• Analyst sentiment is mixed: 12 analysts rate JCI a Buy, 10 recommend Hold and one recommends Sell, producing an overall “Hold” rating and an average price target of $155.50.
• Johnson Controls exceeded quarterly expectations, reporting $1.42 in EPS versus a $1.30 consensus estimate and $6.61 billion in revenue, up 9.3% year over year. The company also maintains a quarterly dividend of $0.40, or a 1.2% annualized yield.

Clifford Swan Investment Counsel LLC reduced its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 6.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,208 shares of the company's stock after selling 18,064 shares during the period. Johnson Controls International accounts for about 1.2% of Clifford Swan Investment Counsel LLC's portfolio, making the stock its 21st largest holding. Clifford Swan Investment Counsel LLC's holdings in Johnson Controls International were worth $38,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Johnson Controls International by 0.6% during the third quarter. State Street Corp now owns 28,684,645 shares of the company's stock worth $3,165,286,000 after buying an additional 163,167 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Johnson Controls International by 3.3% during the 4th quarter. Franklin Resources Inc. now owns 22,655,105 shares of the company's stock worth $2,712,949,000 after acquiring an additional 718,245 shares during the period. Fisher Asset Management LLC boosted its position in shares of 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 valued at $2,064,485,000 after acquiring an additional 280,704 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Johnson Controls International by 13.0% in the fourth 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 period. Finally, Norges Bank acquired a new stake in Johnson Controls International during the fourth quarter worth about $927,739,000. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on JCI shares. Wells Fargo & Company boosted their target price on shares of Johnson Controls International from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Citigroup lifted their price target on shares of Johnson Controls International from $155.00 to $157.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. HSBC upped their price objective on Johnson Controls International from $127.00 to $136.00 in a report on Thursday, May 7th. Wall Street Zen lowered Johnson Controls International from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Oppenheimer reissued a "market perform" rating on shares of Johnson Controls International in a research note on Tuesday, June 2nd. Twelve analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $155.50.

Johnson Controls International Stock Performance

Shares of JCI stock opened at $138.29 on Tuesday. The firm's 50 day moving average price is $144.74 and its 200-day moving average price is $141.24. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 1.00. Johnson Controls International plc has a one year low of $103.82 and a one year high of $157.06. The firm has a market cap of $83.77 billion, a P/E ratio of 24.05, a P/E/G ratio of 1.34 and a beta of 1.31.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its 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. The firm had revenue of $6.61 billion during the quarter, compared to the consensus estimate of $6.46 billion. Johnson Controls International had a net margin of 14.32% and a return on equity of 22.11%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. As a group, equities research analysts predict that Johnson Controls International plc will post 5.08 EPS for the current year.

Johnson Controls International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Monday, June 15th. Johnson Controls International's payout ratio is currently 27.83%.

Insider Buying and Selling at Johnson Controls International

In other Johnson Controls International news, VP Lei Zhang Schlitz sold 23,417 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $153.07, for a total transaction of $3,584,440.19. Following the sale, the vice president directly owned 15,017 shares in the company, valued at $2,298,652.19. This represents a 60.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd M. Grabowski sold 1,800 shares of the firm'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 transaction of $263,160.00. Following the completion of the transaction, the vice president directly owned 26,215 shares of the company's stock, valued at approximately $3,832,633. The trade was a 6.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is currently owned by insiders.

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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