Johnson Controls International plc $JCI Shares Sold by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder cut its Johnson Controls stake by 23.1% in the second quarter, selling 14,984 shares and retaining 49,745 shares valued at $7.27 million. Institutional investors collectively own 90.05% of the company.
• Analyst sentiment is mixed, with 12 Buy, 10 Hold and 1 Sell rating; the consensus is Hold with an average price target of $155.50, although Morgan Stanley and Bernstein recently raised their targets.
• Johnson Controls beat quarterly expectations with EPS of $1.42 versus $1.30 and revenue of $6.61 billion, up 9.3% year over year. The company also pays a quarterly dividend of $0.40 per share, equivalent to a 1.0% annual yield.

Handelsbanken Fonder AB decreased its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 23.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 49,745 shares of the company's stock after selling 14,984 shares during the period. Handelsbanken Fonder AB's holdings in Johnson Controls International were worth $7,268,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mcguire Capital Advisors Inc. acquired a new stake in shares of Johnson Controls International in the fourth quarter worth $27,000. Twin Tree Management LP lifted its holdings in shares of Johnson Controls International by 140.9% during the 4th quarter. Twin Tree Management LP now owns 260 shares of the company's stock valued at $31,000 after acquiring an additional 895 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Johnson Controls International by 747.1% during the 1st quarter. SJS Investment Consulting Inc. now owns 288 shares of the company's stock valued at $38,000 after acquiring an additional 254 shares in the last quarter. Elevation Wealth Partners LLC boosted its position in Johnson Controls International by 359.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 363 shares of the company's stock worth $53,000 after purchasing an additional 284 shares during the period. Finally, Webster Bank N. A. purchased a new stake in Johnson Controls International during the 1st quarter worth $50,000. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on JCI shares. Morgan Stanley raised their price objective on Johnson Controls International from $140.00 to $175.00 and gave the company an "overweight" rating in a research report on Tuesday, June 9th. Sanford C. Bernstein raised their target price on Johnson Controls International from $173.00 to $190.00 and gave the company an "outperform" rating in a report on Friday. Wolfe Research reiterated an "outperform" rating and set a $171.00 target price on shares of Johnson Controls International in a report on Wednesday, June 3rd. UBS Group reissued a "buy" rating on shares of Johnson Controls International in a research report on Thursday, July 30th. Finally, Citigroup upped their price target on Johnson Controls International from $155.00 to $157.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Twelve equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Johnson Controls International has a consensus rating of "Hold" and an average target price of $155.50.

Johnson Controls International Stock Performance

NYSE:JCI opened at $153.73 on Friday. The firm has a 50-day moving average of $144.91 and a two-hundred day moving average of $139.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.00 and a quick ratio of 0.83. The stock has a market cap of $93.12 billion, a P/E ratio of 26.74, a PEG ratio of 1.46 and a beta of 1.31. Johnson Controls International plc has a 1-year low of $103.07 and a 1-year high of $157.06.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.12. Johnson Controls International had a return on equity of 22.11% and a net margin of 14.32%.The business had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.46 billion. During the same period in the previous year, the company earned $1.05 earnings per share. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts expect that Johnson Controls International plc will post 5.08 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were issued a dividend of $0.40 per share. The ex-dividend date was Monday, June 15th. This represents a $1.60 annualized dividend and a yield of 1.0%. Johnson Controls International's payout ratio is currently 27.83%.

Insider Activity at Johnson Controls International

In other Johnson Controls International news, VP Todd M. Grabowski sold 1,800 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $146.20, for a total value of $263,160.00. Following the transaction, the vice president directly owned 26,215 shares of the company's stock, valued at $3,832,633. This represents a 6.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Lei Zhang Schlitz sold 23,417 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $153.07, for a total value of $3,584,440.19. Following the transaction, the vice president owned 15,017 shares of the company's stock, valued at approximately $2,298,652.19. This trade represents a 60.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.29% of the stock is 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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