Wellington Management Group LLP Sells 593,204 Shares of Johnson Controls International plc $JCI

Key Points

• Wellington Management reduced its Johnson Controls stake by 7%, selling 593,204 shares in the second quarter and retaining 7.94 million shares worth approximately $1.16 billion. Institutional investors collectively own 90.05% of JCI.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $155.50; Wells Fargo and UBS remain bullish, while Oppenheimer and Citigroup are neutral.
• Johnson Controls reported strong quarterly results, posting EPS of $1.42 versus the $1.30 consensus and revenue of $6.61 billion, up 9.3% year over year. The company also maintains a quarterly dividend of $0.40 per share, equivalent to a 1.1% yield.

Wellington Management Group LLP reduced its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 7.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,937,508 shares of the company's stock after selling 593,204 shares during the quarter. Wellington Management Group LLP owned 1.31% of Johnson Controls International worth $1,159,749,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Johnson Controls International in the fourth quarter worth approximately $927,739,000. Viking Global Investors LP grew its position in Johnson Controls International by 368.5% during the third quarter. Viking Global Investors LP now owns 6,796,942 shares of the company's stock valued at $747,324,000 after acquiring an additional 5,346,130 shares during the last quarter. Amundi raised its stake in shares of Johnson Controls International by 157.2% during the first quarter. Amundi now owns 5,965,212 shares of the company's stock worth $781,145,000 after acquiring an additional 3,646,047 shares in the last quarter. Ameriprise Financial Inc. raised its stake 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 acquiring an additional 2,675,157 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Johnson Controls International by 13.0% in the 4th quarter. Invesco Ltd. now owns 16,003,486 shares of the company's stock worth $1,916,417,000 after acquiring an additional 1,837,220 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Johnson Controls International news, VP Lei Zhang Schlitz sold 23,417 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $153.07, for a total value of $3,584,440.19. Following the sale, the vice president owned 15,017 shares of the company's stock, valued at $2,298,652.19. This trade represents a 60.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Todd M. Grabowski sold 1,800 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $146.20, for a total transaction of $263,160.00. Following the completion of the transaction, the vice president owned 26,215 shares in the company, valued at $3,832,633. The trade was a 6.43% decrease in their position. The SEC filing for this sale provides additional information. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

JCI has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on shares of Johnson Controls International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Oppenheimer reiterated a "market perform" rating on shares of Johnson Controls International in a research report on Tuesday, June 2nd. UBS Group reissued a "buy" rating on shares of Johnson Controls International in a research note on Thursday, July 30th. Citigroup upped their price target on shares of Johnson Controls International from $155.00 to $157.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Johnson Controls International in a research note on Tuesday, June 9th. Twelve analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $155.50.

Johnson Controls International Stock Performance

Shares of JCI stock opened at $139.33 on Friday. The company has a market capitalization of $84.40 billion, a P/E ratio of 24.23, a PEG ratio of 1.37 and a beta of 1.31. Johnson Controls International plc has a fifty-two week low of $103.82 and a fifty-two week high of $157.06. 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 stock has a 50 day moving average price of $144.93 and a two-hundred day moving average price of $141.23.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.12. Johnson Controls International had a net margin of 14.32% and a return on equity of 22.11%. The firm had revenue of $6.61 billion for the quarter, compared to analysts' expectations of $6.46 billion. During the same quarter last year, the business earned $1.05 earnings per share. The business's revenue was up 9.3% on a year-over-year basis. Analysts expect that Johnson Controls International plc will post 5.08 earnings per share for the current year.

Johnson Controls International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.60 annualized dividend and a yield of 1.1%. Johnson Controls International's dividend payout ratio is presently 27.83%.

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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