Sumitomo Mitsui Trust Group Inc. Sells 262,999 Shares of Johnson Controls International plc $JCI

Key Points

• Sumitomo Mitsui Trust Group cut its Johnson Controls stake by 16.8% in the first quarter, selling 262,999 shares and leaving it with 1.3 million shares worth about $170.7 million.
• Other institutional investors also adjusted holdings, and 90.05% of JCI shares are owned by institutions, highlighting strong institutional interest in the stock.
• Insider selling continued as executives Todd M. Grabowski and Lei Zhang Schlitz sold shares, while analysts remain generally positive with a Moderate Buy consensus and an average price target of $152.85.

Sumitomo Mitsui Trust Group Inc. decreased its stake in Johnson Controls International plc (NYSE:JCI - Free Report) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,303,869 shares of the company's stock after selling 262,999 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.21% of Johnson Controls International worth $170,742,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in Johnson Controls International during the first quarter valued at approximately $187,000. Capstone Capital Management Ltd increased its position in shares of Johnson Controls International by 84.2% in the first quarter. Capstone Capital Management Ltd now owns 6,400 shares of the company's stock valued at $838,000 after acquiring an additional 2,925 shares during the period. Personal CFO Solutions LLC raised its position in Johnson Controls International by 5.3% during the 1st quarter. Personal CFO Solutions LLC now owns 3,612 shares of the company's stock valued at $474,000 after purchasing an additional 182 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Johnson Controls International by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 70,105 shares of the company's stock valued at $9,180,000 after acquiring an additional 200 shares in the last quarter. Finally, Frank Rimerman Advisors LLC raised its holdings in Johnson Controls International by 41.9% in the 1st quarter. Frank Rimerman Advisors LLC now owns 8,827 shares of the company's stock worth $1,156,000 after purchasing an additional 2,605 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Insider Activity at Johnson Controls International

In related news, VP Todd M. Grabowski sold 1,800 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $146.20, for a total value of $263,160.00. Following the completion of the sale, the vice president directly owned 26,215 shares of the company's stock, valued at approximately $3,832,633. This represents a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lei Zhang Schlitz sold 88,809 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $140.99, for a total transaction of $12,521,180.91. Following the completion of the sale, the vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.29% of the company's stock.

Johnson Controls International Stock Performance

JCI stock opened at $140.14 on Friday. The stock's fifty day moving average price is $141.88 and its 200-day moving average price is $134.47. The company has a market cap of $85.50 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.31. Johnson Controls International plc has a 1 year low of $102.09 and a 1 year high of $151.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.04 and a quick ratio of 0.85.

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. The firm 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%. On average, equities analysts forecast that Johnson Controls International plc will post 4.92 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, June 15th. Johnson Controls International's payout ratio is currently 28.62%.

Analyst Ratings Changes

JCI has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Johnson Controls International from $140.00 to $175.00 and gave the company an "overweight" rating in a research note on Tuesday, June 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Johnson Controls International in a research note on Tuesday, June 9th. The Goldman Sachs Group increased their target price on Johnson Controls International from $169.00 to $178.00 and gave the company a "buy" rating in a research note on Tuesday, June 2nd. Barclays lifted their target price on Johnson Controls International from $136.00 to $144.00 and gave the stock an "equal weight" rating in a report on Thursday, May 7th. Finally, Jefferies Financial Group boosted their price target on Johnson Controls International from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Johnson Controls International presently has a consensus rating of "Moderate Buy" and an average target price of $152.85.

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.

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