Mangrove Partners IM LLC Makes New $1.02 Million Investment in Johnson Controls International plc $JCI

Key Points

• Mangrove Partners IM LLC opened a new position in Johnson Controls International, buying 8,535 shares worth about $1.02 million in the fourth quarter.
• Institutional ownership in JCI remains heavy, with hedge funds and other institutions holding about 90.05% of the stock; several large funds also recently boosted their stakes.
• Analysts are mixed but generally constructive: the stock has a Moderate Buy consensus and an average price target of $152.85, while recent insider sales and a new quarterly dividend of $0.40 per share add to the news flow.

Mangrove Partners IM LLC bought a new position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,535 shares of the company's stock, valued at approximately $1,022,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JCI. Norges Bank acquired a new stake in Johnson Controls International during the fourth quarter worth $927,739,000. Viking Global Investors LP increased its stake in Johnson Controls International by 368.5% during the third quarter. Viking Global Investors LP now owns 6,796,942 shares of the company's stock worth $747,324,000 after acquiring an additional 5,346,130 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Johnson Controls International by 140.8% during the second quarter. Ameriprise Financial Inc. now owns 4,575,414 shares of the company's stock worth $483,281,000 after acquiring an additional 2,675,157 shares during the last quarter. First Trust Advisors LP increased its stake in Johnson Controls International by 27.6% during the fourth quarter. First Trust Advisors LP now owns 4,490,828 shares of the company's stock worth $537,777,000 after acquiring an additional 971,104 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Johnson Controls International by 3.3% during the fourth quarter. Franklin Resources Inc. now owns 22,655,105 shares of the company's stock worth $2,712,949,000 after acquiring an additional 718,245 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on JCI shares. Robert W. Baird raised their target price on Johnson Controls International from $132.00 to $148.00 and gave the stock a "neutral" rating in a research note on Monday, April 27th. Jefferies Financial Group raised their price target on Johnson Controls International from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, April 15th. Citigroup raised their price target on Johnson Controls International from $150.00 to $155.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. BNP Paribas Exane began coverage on Johnson Controls International in a research report on Tuesday, April 14th. They set an "underperform" rating and a $120.00 price target for the company. Finally, Mizuho raised their price target on Johnson Controls International from $130.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $152.85.

Insiders Place Their Bets

In related news, VP Todd M. Grabowski sold 1,800 shares of Johnson Controls International 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 transaction, the vice president directly owned 26,215 shares in the company, valued at approximately $3,832,633. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Lei Zhang Schlitz sold 88,809 shares of Johnson Controls International stock in a transaction on Friday, May 8th. The shares were sold at an average price of $140.99, for a total value of $12,521,180.91. Following the completion of the transaction, the vice president 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.29% of the company's stock.

Johnson Controls International Trading Down 0.5%

JCI opened at $145.39 on Wednesday. Johnson Controls International plc has a 52 week low of $100.86 and a 52 week high of $149.23. The business has a fifty day simple moving average of $140.92 and a 200-day simple moving average of $131.27. The firm has a market cap of $88.71 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.57 and a beta of 1.32. The company has a quick ratio of 0.85, a current ratio of 1.04 and a debt-to-equity ratio of 0.64.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The company reported $1.19 EPS for the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%.The business had revenue of $6.14 billion during the quarter. On average, equities analysts expect that Johnson Controls International plc will post 4.89 earnings per share for the current year.

Johnson Controls International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Monday, June 15th will be issued a $0.40 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. Johnson Controls International's dividend payout ratio (DPR) is 28.62%.

Johnson Controls International Company 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.

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.