Resona Asset Management Co. Ltd. Has $20.53 Million Stock Holdings in Johnson Controls International plc $JCI

Key Points

• Resona Asset Management reduced its Johnson Controls stake by 10.4% in the second quarter, selling 16,262 shares and retaining 140,490 shares valued at approximately $20.53 million.
• Johnson Controls reported quarterly EPS of $1.42, exceeding the $1.30 consensus estimate, while revenue rose 9.3% year over year to $6.61 billion.
• Institutional investors own 90.05% of JCI, and analysts maintain a “Moderate Buy” consensus with an average price target of $154.80; the company also pays a quarterly dividend of $0.40 per share.

Resona Asset Management Co. Ltd. lessened its stake in Johnson Controls International plc (NYSE:JCI - Free Report) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,490 shares of the company's stock after selling 16,262 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Johnson Controls International were worth $20,527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in JCI. Norges Bank bought a new position in Johnson Controls International during the 4th quarter worth about $927,739,000. Viking Global Investors LP lifted its holdings in shares of Johnson Controls International by 368.5% in the third quarter. Viking Global Investors LP now owns 6,796,942 shares of the company's stock valued at $747,324,000 after purchasing an additional 5,346,130 shares in the last quarter. Amundi lifted 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 valued at $781,145,000 after purchasing an additional 3,646,047 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of 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 buying an additional 2,675,157 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Johnson Controls International by 13.0% during 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 in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Johnson Controls International Stock Performance

NYSE JCI opened at $151.47 on Friday. The firm has a market capitalization of $91.75 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 1.47 and a beta of 1.31. The company has a current ratio of 1.00, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average price is $144.71 and its two-hundred day moving average price is $139.65. Johnson Controls International plc has a 1 year low of $103.07 and a 1 year high of $157.06.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.12. The company had revenue of $6.61 billion during the quarter, compared to the consensus estimate of $6.46 billion. Johnson Controls International had a net margin of 14.32% and a return on equity of 22.11%. The company's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. As a group, research analysts anticipate that Johnson Controls International plc will post 5.08 EPS for the current year.

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were issued a dividend of $0.40 per share. The ex-dividend date was 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 presently 27.83%.

Insider Buying and Selling

In other news, VP Lei Zhang Schlitz sold 23,417 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $153.07, for a total value of $3,584,440.19. Following the completion of the sale, the vice president directly owned 15,017 shares of the company's stock, valued at $2,298,652.19. This trade represents a 60.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Todd M. Grabowski sold 1,800 shares of Johnson Controls International stock in a transaction that occurred 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 transaction, the vice president owned 26,215 shares of the company's stock, valued at $3,832,633. This represents a 6.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on JCI shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Johnson Controls International in a research note on Tuesday, June 9th. JPMorgan Chase & Co. boosted their price objective on shares of Johnson Controls International from $158.00 to $162.00 in a research report on Thursday, May 7th. Oppenheimer restated a "market perform" rating on shares of Johnson Controls International in a report on Tuesday, June 2nd. UBS Group reaffirmed a "buy" rating on shares of Johnson Controls International in a research report on Thursday, July 30th. Finally, Zacks Research lowered shares of Johnson Controls International from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Johnson Controls International has an average rating of "Moderate Buy" and a consensus target price of $154.80.

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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