Johnson Controls International plc $JCI Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its Johnson Controls stake by 20.6% in the third quarter, selling 365,107 shares and retaining 1.4 million shares worth approximately $208.6 million. Institutional investors collectively own 90.05% of JCI.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $163.05 price target, despite downgrades from Wall Street Zen and Zacks Research. Bank of America and Wells Fargo issued higher targets of $175 and $186, respectively.
• Johnson Controls reported quarterly adjusted earnings of $1.42 per share and revenue of $6.61 billion, exceeding estimates and marking 9.3% year-over-year revenue growth. The company also pays a quarterly dividend of $0.40 per share, yielding about 1.1% annually.

Robeco Institutional Asset Management B.V. lowered its stake in Johnson Controls International plc (NYSE:JCI - Free Report) by 20.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,403,197 shares of the company's stock after selling 365,107 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.23% of Johnson Controls International worth $208,585,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. First County Bank CT boosted its stake in shares of Johnson Controls International by 4.2% in the third quarter. First County Bank CT now owns 1,699 shares of the company's stock valued at $253,000 after purchasing an additional 68 shares during the period. Natural Investments LLC grew its holdings in Johnson Controls International by 2.5% during the 2nd quarter. Natural Investments LLC now owns 3,008 shares of the company's stock valued at $439,000 after purchasing an additional 72 shares in the last quarter. Everhart Financial Group Inc. grew its holdings in Johnson Controls International by 1.1% during the 3rd quarter. Everhart Financial Group Inc. now owns 6,355 shares of the company's stock valued at $945,000 after purchasing an additional 72 shares in the last quarter. Baron Wealth Management LLC increased its stake in Johnson Controls International by 1.6% during the 2nd quarter. Baron Wealth Management LLC now owns 4,705 shares of the company's stock worth $687,000 after buying an additional 75 shares during the period. Finally, Kaufman Rossin Wealth LLC increased its stake in Johnson Controls International by 2.0% during the 3rd quarter. Kaufman Rossin Wealth LLC now owns 3,845 shares of the company's stock worth $572,000 after buying an additional 75 shares during the period. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Johnson Controls International

In other news, VP Lei Schlitz sold 23,417 shares of Johnson Controls International stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $153.07, for a total value of $3,584,440.19. Following the completion of the transaction, the vice president owned 15,017 shares in the company, valued at approximately $2,298,652.19. This trade represents a 60.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on JCI. Wall Street Zen lowered shares of Johnson Controls International from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Zacks Research downgraded Johnson Controls International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Bank of America lifted their target price on Johnson Controls International from $152.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, October 8th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Johnson Controls International in a research report on Wednesday, October 7th. Finally, Wells Fargo & Company initiated coverage on Johnson Controls International in a research note on Thursday, September 24th. They issued an "overweight" rating and a $186.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.05.

Johnson Controls International Stock Down 0.4%

Shares of NYSE:JCI opened at $147.62 on Wednesday. The firm has a market cap of $89.42 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 1.10 and a beta of 1.27. The company has a fifty day simple moving average of $147.16 and a 200 day simple moving average of $143.99. The company has a current ratio of 1.00, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. Johnson Controls International plc has a 12-month low of $107.83 and a 12-month high of $160.41.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.12. The company had revenue of $6.61 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $1.05 EPS. On average, equities research analysts anticipate that Johnson Controls International plc will post 5.08 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Monday, September 21st were given a $0.40 dividend. The ex-dividend date was Monday, September 21st. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Johnson Controls International's dividend payout ratio (DPR) is presently 27.83%.

Johnson Controls International Company Profile

Johnson Controls International plc NYSE: JCI is a global provider of building technology, products and services. The company helps customers design, operate and maintain efficient, healthy and secure buildings through solutions for heating, ventilation and air conditioning, building automation, energy management, fire detection and suppression, and physical security.

Its portfolio includes building controls and digital management platforms, HVAC equipment, chillers, air-handling systems, fire and security technologies, and related services.

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