Payden & Rygel Invests $10.50 Million in Johnson Controls International plc $JCI

Key Points

• Payden & Rygel initiated a new position in Johnson Controls International in the fourth quarter, buying 87,700 shares worth about $10.5 million.
• Institutional interest in JCI remains strong, with hedge funds and other institutions owning about 90.05% of the stock and several firms adding to their stakes during the quarter.
• Johnson Controls reported quarterly EPS of $1.19 on revenue of $6.14 billion, while analysts currently have a consensus rating of Hold and an average price target of $147.63.

Payden & Rygel bought a new stake in Johnson Controls International plc (NYSE:JCI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 87,700 shares of the company's stock, valued at approximately $10,502,000.

A number of other large investors have also added to or reduced their stakes in JCI. Ironwood Investment Counsel LLC raised its holdings in shares of Johnson Controls International by 7.2% during the 4th quarter. Ironwood Investment Counsel LLC now owns 5,661 shares of the company's stock valued at $678,000 after buying an additional 382 shares in the last quarter. RiverFront Investment Group LLC boosted its stake in Johnson Controls International by 91.4% in the fourth quarter. RiverFront Investment Group LLC now owns 6,932 shares of the company's stock worth $830,000 after buying an additional 3,311 shares in the last quarter. North Dakota State Investment Board purchased a new stake in Johnson Controls International in the fourth quarter worth approximately $2,712,000. Elyxium Wealth LLC bought a new position in Johnson Controls International during the fourth quarter valued at approximately $165,000. Finally, Abacus Wealth Partners LLC purchased a new position in shares of Johnson Controls International during the fourth quarter worth approximately $1,233,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Johnson Controls International Stock Performance

NYSE:JCI opened at $137.33 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.85 and a current ratio of 1.04. Johnson Controls International plc has a fifty-two week low of $96.01 and a fifty-two week high of $147.32. The firm has a market cap of $83.79 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 1.58 and a beta of 1.37. The business has a 50 day moving average price of $137.41 and a 200-day moving average price of $127.70.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.19 EPS for the quarter. The company had revenue of $6.14 billion during the quarter. Johnson Controls International had a net margin of 14.45% and a return on equity of 19.50%. Equities research analysts predict that Johnson Controls International plc will post 4.87 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Monday, March 16th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. Johnson Controls International's dividend payout ratio (DPR) is presently 28.62%.

Analyst Ratings Changes

JCI has been the subject of a number of recent research reports. Rothschild & Co Redburn boosted their price objective on shares of Johnson Controls International from $137.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, February 9th. JPMorgan Chase & Co. lifted their target price on shares of Johnson Controls International from $158.00 to $162.00 in a research report on Thursday, May 7th. Robert W. Baird boosted their price target on shares of 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 upped their price target on shares of Johnson Controls International from $125.00 to $135.00 and gave the company a "hold" rating in a research report on Wednesday, April 15th. Finally, UBS Group raised their price objective on Johnson Controls International from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Eleven investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Johnson Controls International has an average rating of "Hold" and a consensus price target of $147.63.

Insider Transactions at Johnson Controls International

In other news, VP Daniel C. Mcconeghy sold 3,600 shares of Johnson Controls International stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $142.56, for a total value of $513,216.00. Following the sale, the vice president directly owned 24,273 shares in the company, valued at approximately $3,460,358.88. This trade represents a 12.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lei Zhang Schlitz sold 88,809 shares of the business's stock in a transaction that occurred 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 transaction, the vice president directly owned 57,059 shares in the company, valued at $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. 0.29% of the stock is owned by insiders.

Johnson Controls International 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.

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