Johnson Controls International plc $JCI Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its Johnson Controls stake by 4.4% in the second quarter, selling 14,229 shares and retaining 309,691 shares worth approximately $45.2 million. Institutional investors collectively own 90.05% of the company.
• Johnson Controls reported quarterly earnings of $1.42 per share, exceeding estimates of $1.30, while revenue rose 9.3% year over year to $6.61 billion. Shares opened at $146.12, near their 12-month high of $157.06.
• The company declared a quarterly dividend of $0.40 per share, equivalent to a 1.1% yield, while analysts maintain a consensus “Hold” rating with an average price target of $155.75.

The Manufacturers Life Insurance Company lessened its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 309,691 shares of the company's stock after selling 14,229 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Johnson Controls International worth $45,249,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Natural Investments LLC increased its stake in Johnson Controls International by 2.5% in the second quarter. Natural Investments LLC now owns 3,008 shares of the company's stock valued at $439,000 after purchasing an additional 72 shares during the last quarter. Baron Wealth Management LLC lifted its position in Johnson Controls International by 1.6% during the second 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. Diversify Wealth Management LLC boosted its stake in Johnson Controls International by 2.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 3,868 shares of the company's stock worth $555,000 after buying an additional 76 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in Johnson Controls International by 1.5% in the 2nd quarter. Resonant Capital Advisors LLC now owns 5,063 shares of the company's stock valued at $742,000 after buying an additional 77 shares during the period. Finally, Fourth Dimension Wealth LLC increased its stake in shares of Johnson Controls International by 51.3% during the 2nd quarter. Fourth Dimension Wealth LLC now owns 230 shares of the company's stock valued at $34,000 after acquiring an additional 78 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Buying and Selling

In other Johnson Controls International news, VP Lei Schlitz sold 23,417 shares of the company's 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 $2,298,652.19. This represents a 60.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.29% of the company's stock.

Johnson Controls International Stock Up 2.3%

Shares of NYSE JCI opened at $146.12 on Friday. The stock has a fifty day moving average price of $144.92 and a 200 day moving average price of $141.41. 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 $104.49 and a 12-month high of $157.06. The company has a market cap of $88.51 billion, a P/E ratio of 25.41, a P/E/G ratio of 1.37 and a beta of 1.29.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.42 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 company had revenue of $6.61 billion for the quarter, compared to analysts' expectations of $6.46 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Johnson Controls International plc will post 5.08 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Monday, September 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $1.60 annualized dividend and a yield of 1.1%. Johnson Controls International's payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

JCI has been the topic of several research analyst reports. Oppenheimer reissued a "market perform" rating on shares of Johnson Controls International in a research report on Tuesday, June 2nd. Wall Street Zen downgraded shares of Johnson Controls International from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Johnson Controls International in a report on Friday, September 4th. Sanford C. Bernstein boosted their price objective on shares of Johnson Controls International from $173.00 to $190.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Finally, Wolfe Research restated an "outperform" rating and set a $171.00 price objective on shares of Johnson Controls International in a report on Wednesday, June 3rd. Twelve 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 MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $155.75.

Johnson Controls International Company Profile

Johnson Controls International plc NYSE: JCI is a global company focused on building technologies and solutions that improve the efficiency, safety and sustainability of buildings. Its offerings include heating, ventilation and air-conditioning systems, building automation and controls, fire detection and suppression equipment, security systems, and related digital technologies and services.

The company serves commercial, institutional, industrial and residential customers, helping organizations manage building operations, energy use, indoor air quality and physical security.

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