Johnson Controls International plc $JCI Shares Sold by Geode Capital Management LLC

Key Points

• Geode Capital Management trimmed its Johnson Controls International stake by 4.4% in the fourth quarter, selling 636,613 shares and leaving it with 13.8 million shares worth about $1.65 billion. Despite the sale, institutional ownership remains high at 90.05%.
• JCI shares were down 1.5%, opening at $136.10, while the stock remains well above its 12-month low of $99.11 but below its high of $147.32. The company currently sports a market cap of $83.04 billion and a P/E ratio of 24.35.
• Recent performance and outlook were mixed: the company reported quarterly EPS of $1.19 on revenue of $6.14 billion, paid a $0.40 quarterly dividend, and analysts now have an average rating of Hold with a consensus price target of $147.63.

Geode Capital Management LLC cut its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 4.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,803,741 shares of the company's stock after selling 636,613 shares during the quarter. Geode Capital Management LLC owned 2.26% of Johnson Controls International worth $1,645,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in JCI. Brighton Jones LLC purchased a new position in shares of Johnson Controls International in the fourth quarter valued at $222,000. Acadian Asset Management LLC purchased a new position in shares of Johnson Controls International in the first quarter valued at $55,000. Sivia Capital Partners LLC boosted its stake in shares of Johnson Controls International by 83.3% in the second quarter. Sivia Capital Partners LLC now owns 7,049 shares of the company's stock valued at $745,000 after purchasing an additional 3,203 shares during the period. Jump Financial LLC boosted its stake in shares of Johnson Controls International by 3.5% in the second quarter. Jump Financial LLC now owns 12,578 shares of the company's stock valued at $1,328,000 after purchasing an additional 425 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Johnson Controls International by 120.7% in the second quarter. Federated Hermes Inc. now owns 12,359 shares of the company's stock valued at $1,305,000 after purchasing an additional 6,760 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Johnson Controls International Trading Down 1.5%

NYSE JCI opened at $136.10 on Friday. Johnson Controls International plc has a 12 month low of $99.11 and a 12 month high of $147.32. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.04 and a quick ratio of 0.85. The company has a market capitalization of $83.04 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 1.49 and a beta of 1.37. The company's fifty day moving average price is $138.21 and its two-hundred day moving average price is $128.89.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.19 EPS for the quarter. Johnson Controls International had a net margin of 14.45% and a return on equity of 19.50%. The firm had revenue of $6.14 billion for the quarter. As a group, research analysts predict that Johnson Controls International plc will post 4.86 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

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

Insider Activity

In other news, VP Lei Zhang Schlitz sold 88,809 shares of the firm's stock in a transaction dated 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 transaction, the vice president directly owned 57,059 shares in the company, valued at approximately $8,044,748.41. This trade represents a 60.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on JCI. JPMorgan Chase & Co. upped their target price on shares of Johnson Controls International from $158.00 to $162.00 in a research note on Thursday, May 7th. Rothschild & Co Redburn upped their target price on shares of Johnson Controls International from $137.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, February 9th. Robert W. Baird upped their target price on shares of Johnson Controls International from $132.00 to $148.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. Wells Fargo & Company upped their target price on shares of Johnson Controls International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, Wolfe Research decreased their target price on shares of Johnson Controls International from $161.00 to $160.00 and set an "outperform" rating for the company in a research note on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $147.63.

Johnson Controls International Company 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.