Johnson Controls International plc $JCI Shares Sold by Tidal Investments LLC

Key Points

• Tidal Investments reduced its Johnson Controls stake by 7.7% in the second quarter, selling 16,370 shares and retaining 196,359 shares valued at approximately $28.7 million. Institutional investors collectively own 90.05% of JCI.
• Analyst sentiment is mixed but generally positive: 12 analysts rate JCI a Buy, 10 recommend Hold, and one recommends Sell. The consensus rating is “Hold,” with an average price target of $155.75.
• Johnson Controls exceeded quarterly expectations, reporting $1.42 in EPS and $6.61 billion in revenue, while revenue grew 9.3% year over year. The company also declared a quarterly dividend of $0.40 per share, representing a 1.1% annualized yield.

Tidal Investments LLC reduced its stake in Johnson Controls International plc (NYSE:JCI - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,359 shares of the company's stock after selling 16,370 shares during the period. Tidal Investments LLC's holdings in Johnson Controls International were worth $28,690,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in JCI. Abacus Wealth Partners LLC acquired a new stake in Johnson Controls International during the 4th quarter valued at approximately $1,233,000. North Dakota State Investment Board acquired a new position in shares of Johnson Controls International in the 4th quarter valued at approximately $2,712,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Johnson Controls International during the 4th quarter valued at approximately $16,426,000. Rokos Capital Management LLP acquired a new stake in shares of Johnson Controls International during the first quarter worth approximately $45,833,000. Finally, Catalyst Funds Management Pty Ltd grew its position in shares of Johnson Controls International by 536.4% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 21,000 shares of the company's stock worth $2,515,000 after buying an additional 17,700 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on JCI. The Goldman Sachs Group upped their price target on shares of Johnson Controls International from $169.00 to $178.00 and gave the company a "buy" rating in a report on Tuesday, June 2nd. Weiss Ratings restated a "buy (b)" rating on shares of Johnson Controls International in a research note on Friday, September 4th. Sanford C. Bernstein lifted their target price on Johnson Controls International from $173.00 to $190.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Argus set a $175.00 price target on Johnson Controls International in a research report on Friday, August 7th. Finally, Citigroup raised their price objective on Johnson Controls International from $155.00 to $157.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. Twelve investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $155.75.

Insiders Place Their Bets

In other Johnson Controls International news, VP Lei Schlitz sold 23,417 shares of the business's stock in a transaction dated 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 sale, the vice president owned 15,017 shares of the company's stock, valued at $2,298,652.19. The trade was a 60.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.29% of the stock is currently owned by company insiders.

Johnson Controls International Stock Down 0.9%

Shares of Johnson Controls International stock opened at $145.10 on Thursday. The stock has a market capitalization of $87.89 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.41 and a beta of 1.29. Johnson Controls International plc has a twelve month low of $104.49 and a twelve month high of $157.06. The company has a current ratio of 1.00, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The business's 50 day simple moving average is $144.77 and its 200-day simple moving average is $141.38.

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

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Monday, September 21st will be paid a $0.40 dividend. The ex-dividend date is Monday, September 21st. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Johnson Controls International's payout ratio is 27.83%.

About Johnson Controls International

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.

Want to see what other hedge funds are holding JCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Johnson Controls International plc (NYSE:JCI - Free Report).

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.