Johnson Controls International plc $JCI Stake Lessened by Grandfield & Dodd LLC

Key Points

• Grandfield & Dodd reduced its Johnson Controls stake by 4.3% in the third quarter, selling 18,408 shares and retaining 414,631 shares worth approximately $61.6 million. Institutional investors and hedge funds collectively own 90.05% of the company.
• Johnson Controls reported quarterly earnings of $1.66 per share, beating estimates of $1.59, while revenue rose 10.4% year over year to $7.11 billion. The company also maintains a quarterly dividend of $0.40 per share, yielding about 1.1% annually.
• JCI shares opened at $148.90, down 5.9%, while analysts maintained an overall “Moderate Buy” consensus rating with an average price target of $166.86.

Grandfield & Dodd LLC decreased its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 4.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 414,631 shares of the company's stock after selling 18,408 shares during the period. Johnson Controls International makes up about 3.3% of Grandfield & Dodd LLC's investment portfolio, making the stock its 6th largest position. Grandfield & Dodd LLC owned 0.07% of Johnson Controls International worth $61,635,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Johnson Controls International by 2.2% in the 2nd quarter. State Street Corp now owns 28,283,873 shares of the company's stock worth $4,143,674,000 after buying an additional 621,319 shares during the last quarter. Amundi boosted its holdings in shares of Johnson Controls International by 157.2% in the first quarter. Amundi now owns 5,965,212 shares of the company's stock worth $781,145,000 after buying an additional 3,646,047 shares during the period. First Trust Advisors LP grew its holdings in shares of Johnson Controls International by 28.3% during the first quarter. First Trust Advisors LP now owns 5,761,677 shares of the company's stock valued at $754,492,000 after buying an additional 1,270,849 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in Johnson Controls International by 0.9% in the 2nd quarter. Pictet Asset Management Holding SA now owns 2,331,718 shares of the company's stock worth $340,501,000 after buying an additional 20,780 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in shares of Johnson Controls International by 702.5% during the 1st quarter. Hsbc Holdings PLC now owns 1,962,770 shares of the company's stock valued at $256,820,000 after buying an additional 1,718,179 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Johnson Controls International

In related news, Director Juergen Tinggren sold 4,000 shares of Johnson Controls International stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $159.19, for a total transaction of $636,760.00. Following the completion of the transaction, the director owned 27,236 shares of the company's stock, valued at $4,335,698.84. This trade represents a 12.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lei Schlitz sold 23,417 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were 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 directly owned 15,017 shares in the company, valued at $2,298,652.19. This represents a 60.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.29% of the company's stock.

Johnson Controls International Stock Down 5.9%

Shares of NYSE JCI opened at $148.90 on Friday. The stock's fifty day moving average is $147.36 and its 200 day moving average is $140.79. The stock has a market capitalization of $90.19 billion, a P/E ratio of 31.82, a PEG ratio of 1.17 and a beta of 1.27. Johnson Controls International plc has a 52 week low of $108.41 and a 52 week high of $160.41. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.83 and a current ratio of 0.90.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.59 by $0.07. The company had revenue of $7.11 billion for the quarter, compared to the consensus estimate of $7.04 billion. Johnson Controls International had a net margin of 11.12% and a return on equity of 23.38%. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $1.26 EPS. Sell-side analysts forecast that Johnson Controls International plc will post 6.29 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Monday, September 21st were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, September 21st. Johnson Controls International's payout ratio is currently 34.19%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on JCI shares. Argus set a $175.00 target price on shares of Johnson Controls International in a research note on Friday, August 7th. Sanford C. Bernstein restated an "outperform" rating on shares of Johnson Controls International in a research report on Wednesday, October 7th. Citigroup lifted their target price on Johnson Controls International from $170.00 to $172.00 and gave the company a "neutral" rating in a research note on Wednesday. Wall Street Zen cut Johnson Controls International from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company raised their target price on shares of Johnson Controls International from $186.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $166.86.

Johnson Controls International 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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