Johnson Controls International plc $JCI Shares Sold by Principal Financial Group Inc.

Key Points

• Principal Financial Group trimmed its Johnson Controls International stake by 1.5% in the first quarter, selling 10,338 shares and ending with 684,627 shares valued at about $89.7 million.
• Insider selling also continued, with VP Todd M. Grabowski and VP Lei Zhang Schlitz both reducing their holdings in separate transactions. Insiders now own just 0.29% of the company.
• Wall Street sentiment remains moderately positive, with analysts maintaining a consensus “Moderate Buy” rating and an average price target of $152.85; the stock recently traded at $142.79 and also pays a quarterly dividend of $0.40 per share.

Principal Financial Group Inc. decreased its position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 684,627 shares of the company's stock after selling 10,338 shares during the period. Principal Financial Group Inc. owned 0.11% of Johnson Controls International worth $89,652,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Johnson Controls International in the fourth quarter valued at $222,000. Acadian Asset Management LLC acquired a new position in Johnson Controls International during the first quarter worth about $55,000. Sivia Capital Partners LLC grew its holdings in Johnson Controls International by 83.3% during the second quarter. Sivia Capital Partners LLC now owns 7,049 shares of the company's stock worth $745,000 after acquiring an additional 3,203 shares during the period. Jump Financial LLC raised its position in Johnson Controls International by 3.5% in the second quarter. Jump Financial LLC now owns 12,578 shares of the company's stock worth $1,328,000 after acquiring an additional 425 shares in 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 acquiring an additional 6,760 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Insider Activity at Johnson Controls International

In other news, VP Todd M. Grabowski sold 1,800 shares of the stock in a transaction 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 completion of the sale, the vice president owned 26,215 shares in the company, valued at $3,832,633. This represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Lei Zhang Schlitz sold 88,809 shares of the firm's stock in a transaction on Friday, May 8th. The stock was 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 of the company's stock, valued at approximately $8,044,748.41. This trade represents a 60.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Evercore assumed 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 objective for the company. The Goldman Sachs Group increased their target price on shares of Johnson Controls International from $169.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. UBS Group raised their target price on shares of Johnson Controls International from $170.00 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Sanford C. Bernstein started coverage on shares of Johnson Controls International in a research report on Tuesday, June 9th. They issued an "outperform" rating and a $176.00 price target on the stock. Finally, Wall Street Zen raised Johnson Controls International from a "hold" rating to a "buy" rating in a report on Sunday, May 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $152.85.

Johnson Controls International Trading Down 1.7%

Shares of JCI opened at $142.79 on Thursday. The business's 50-day moving average price is $141.86 and its 200 day moving average price is $135.11. The company has a current ratio of 1.04, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $87.12 billion, a P/E ratio of 25.54, a P/E/G ratio of 1.56 and a beta of 1.31. Johnson Controls International plc has a 1-year low of $102.09 and a 1-year high of $151.18.

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. The company had revenue of $6.14 billion during the quarter. Johnson Controls International had a net margin of 14.45% and a return on equity of 19.50%. Analysts expect that Johnson Controls International plc will post 4.9 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were 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 was Monday, June 15th. Johnson Controls International's payout ratio is presently 28.62%.

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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