Johnson Controls International plc $JCI Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its stake in Johnson Controls International by 63.6% in the fourth quarter, selling 428,113 shares and leaving it with 244,591 shares worth about $29.4 million.
• Insider selling continued, with VP Todd M. Grabowski and VP Lei Zhang Schlitz both reducing their holdings in recent transactions. Company insiders currently own just 0.29% of the stock.
• Analysts remain cautiously positive: JCI has a consensus rating of “Moderate Buy” with an average price target of $152.85, while shares were trading at $142.64 and the company also announced a quarterly dividend of $0.40 per share.

Hsbc Holdings PLC reduced its position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 63.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,591 shares of the company's stock after selling 428,113 shares during the period. Hsbc Holdings PLC's holdings in Johnson Controls International were worth $29,379,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in shares of Johnson Controls International in the fourth quarter worth approximately $222,000. Acadian Asset Management LLC purchased a new stake in shares of Johnson Controls International during the first quarter worth approximately $55,000. Sivia Capital Partners LLC raised its stake in Johnson Controls International by 83.3% in the 2nd 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 last quarter. Jump Financial LLC raised its stake in Johnson Controls International by 3.5% in the 2nd 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 last quarter. Finally, Federated Hermes Inc. lifted its holdings in Johnson Controls International by 120.7% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Activity

In other Johnson Controls International news, VP Todd M. Grabowski sold 1,800 shares of Johnson Controls International stock in a transaction dated 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 directly owned 26,215 shares of the company's stock, valued at $3,832,633. The trade was a 6.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lei Zhang Schlitz sold 88,809 shares of the business's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $140.99, for a total transaction of $12,521,180.91. Following the completion of the transaction, the vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on JCI. Robert W. Baird lifted their target price on shares of Johnson Controls International from $132.00 to $148.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. Jefferies Financial Group increased their target price on shares of Johnson Controls International from $125.00 to $135.00 and gave the company a "hold" rating in a research report on Wednesday, April 15th. Sanford C. Bernstein began coverage on shares of Johnson Controls International in a research note on Tuesday, June 9th. They issued an "outperform" rating and a $176.00 price target on the stock. Evercore initiated coverage on shares of Johnson Controls International in a research report on Monday, April 13th. They set a "hold" rating and a $155.00 price target on the stock. Finally, Wolfe Research reaffirmed an "outperform" rating and set a $171.00 price objective on shares of Johnson Controls International in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Johnson Controls International presently has a consensus rating of "Moderate Buy" and an average price target of $152.85.

Johnson Controls International Stock Up 1.3%

Shares of NYSE:JCI opened at $142.64 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.04 and a debt-to-equity ratio of 0.64. The business has a fifty day moving average of $141.99 and a two-hundred day moving average of $133.82. The stock has a market cap of $87.03 billion, a P/E ratio of 25.52, a PEG ratio of 1.51 and a beta of 1.31. Johnson Controls International plc has a 52-week low of $102.09 and a 52-week high of $151.18.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its earnings results on Tuesday, March 31st. The company reported $1.19 earnings per share (EPS) for the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%.The business had revenue of $6.14 billion during the quarter. On average, research analysts expect that Johnson Controls International plc will post 4.9 earnings per share for the current year.

Johnson Controls International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, June 15th. Johnson Controls International's dividend payout ratio (DPR) is presently 28.62%.

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.

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.