Norges Bank Invests $927.74 Million in Johnson Controls International plc $JCI

Key Points

• Norges Bank opened a new stake in Johnson Controls International, buying 7.75 million shares valued at about $927.74 million in the fourth quarter. The position represented roughly 1.27% of the company.
• Wall Street sentiment is mixed but leaning constructive: several firms raised price targets, and the stock now carries an average rating of "Hold" with an average price target of $147.63. Analysts currently split between 11 Buy, 10 Hold, and 1 Sell ratings.
• Johnson Controls reported $1.19 EPS and $6.14 billion in quarterly revenue, while also paying a $0.40 quarterly dividend that works out to a 1.2% annual yield. An insider sale by VP Lei Zhang Schlitz also reduced her holdings by more than 60%.

Norges Bank purchased a new position in Johnson Controls International plc (NYSE:JCI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,747,300 shares of the company's stock, valued at approximately $927,739,000. Norges Bank owned about 1.27% of Johnson Controls International at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of JCI. Maseco LLP raised its stake in shares of Johnson Controls International by 102.9% in the fourth quarter. Maseco LLP now owns 211 shares of the company's stock worth $25,000 after purchasing an additional 107 shares during the last quarter. Roxbury Financial LLC raised its stake in shares of Johnson Controls International by 71.9% in the fourth quarter. Roxbury Financial LLC now owns 239 shares of the company's stock worth $29,000 after purchasing an additional 100 shares during the last quarter. YANKCOM Partnership purchased a new position in shares of Johnson Controls International in the fourth quarter worth $34,000. Physician Wealth Advisors Inc. raised its stake in shares of Johnson Controls International by 62.8% in the third quarter. Physician Wealth Advisors Inc. now owns 319 shares of the company's stock worth $35,000 after purchasing an additional 123 shares during the last quarter. Finally, Dunhill Financial LLC raised its stake in shares of Johnson Controls International by 123.3% in the third quarter. Dunhill Financial LLC now owns 335 shares of the company's stock worth $37,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on JCI. HSBC raised their price target on Johnson Controls International from $127.00 to $136.00 in a research note on Thursday, May 7th. Rothschild & Co Redburn upped their price objective on Johnson Controls International from $137.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, February 9th. Wall Street Zen upgraded Johnson Controls International from a "hold" rating to a "buy" rating in a research report on Sunday, May 3rd. JPMorgan Chase & Co. upped their price objective on Johnson Controls International from $158.00 to $162.00 in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $154.00 price objective on shares of Johnson Controls International in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $147.63.

Johnson Controls International Stock Performance

Shares of JCI opened at $134.05 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.04 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $138.21 and a two-hundred day simple moving average of $128.93. The stock has a market cap of $81.78 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.45 and a beta of 1.37. Johnson Controls International plc has a 52 week low of $99.11 and a 52 week high of $147.32.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.19 EPS for the quarter. The business had revenue of $6.14 billion during the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%. On average, analysts expect that Johnson Controls International plc will post 4.86 EPS for the current year.

Johnson Controls International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Monday, March 16th were given a $0.40 dividend. The ex-dividend date was Monday, March 16th. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. Johnson Controls International's dividend payout ratio is presently 28.62%.

Insider Buying and Selling

In other Johnson Controls International news, VP Lei Zhang Schlitz sold 88,809 shares of the company's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $140.99, for a total value of $12,521,180.91. Following the completion of the sale, the vice president owned 57,059 shares in the company, valued at $8,044,748.41. This represents a 60.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.29% of the stock is currently owned by insiders.

About Johnson Controls International

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.

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