QRG Capital Management Inc. Boosts Holdings in Johnson Controls International plc $JCI

Key Points

• QRG Capital Management increased its Johnson Controls stake by 4.7% in the second quarter, bringing its holdings to 222,168 shares valued at approximately $32.5 million. Institutional investors collectively own 90.05% of the company.
• Johnson Controls reported quarterly EPS of $1.42, exceeding estimates of $1.30, while revenue rose 9.3% year over year to $6.61 billion. Shares recently traded at $145.94, down 0.3%.
• The company declared a quarterly dividend of $0.40 per share, equivalent to a 1.1% annual yield. Analysts maintain a consensus “Hold” rating with an average price target of $155.75.

QRG Capital Management Inc. lifted its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 4.7% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 222,168 shares of the company's stock after acquiring an additional 9,988 shares during the quarter. QRG Capital Management Inc.'s holdings in Johnson Controls International were worth $32,461,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Johnson Controls International during the fourth quarter valued at about $927,739,000. Amundi increased 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. Invesco Ltd. increased its holdings in shares of Johnson Controls International by 13.0% in the fourth quarter. Invesco Ltd. now owns 16,003,486 shares of the company's stock worth $1,916,417,000 after buying an additional 1,837,220 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Johnson Controls International by 93,932.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,809,184 shares of the company's stock valued at $216,650,000 after acquiring an additional 1,807,260 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Johnson Controls International by 702.5% in the 1st quarter. Hsbc Holdings PLC now owns 1,962,770 shares of the company's stock valued at $256,820,000 after acquiring an additional 1,718,179 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Johnson Controls International Trading Down 0.3%

Shares of NYSE JCI traded down $0.50 during trading hours on Wednesday, hitting $145.94. The company's stock had a trading volume of 2,901,567 shares, compared to its average volume of 4,208,605. Johnson Controls International plc has a 12 month low of $104.49 and a 12 month high of $157.06. The stock has a market cap of $88.40 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 1.40 and a beta of 1.29. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 1.00. The business has a 50-day simple moving average of $144.87 and a 200-day simple moving average of $141.34.

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

Johnson Controls International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Monday, September 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, September 21st. Johnson Controls International's dividend payout ratio (DPR) is currently 27.83%.

Insider Activity at Johnson Controls International

In other news, VP Lei Schlitz sold 23,417 shares of Johnson Controls International stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $153.07, for a total transaction of $3,584,440.19. Following the sale, the vice president owned 15,017 shares of the company's stock, valued at approximately $2,298,652.19. The trade was a 60.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group restated a "buy" rating on shares of Johnson Controls International in a research report on Wednesday, September 16th. Sanford C. Bernstein boosted their price objective on Johnson Controls International from $173.00 to $190.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Argus set a $175.00 price objective on Johnson Controls International in a research note on Friday, August 7th. Morgan Stanley raised their target price on shares of Johnson Controls International from $175.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, September 2nd. Finally, Citigroup lifted their target price on shares of 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 analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Johnson Controls International currently has an average rating of "Hold" and an average target price of $155.75.

Johnson Controls International Company Profile

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.

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