Concurrent Investment Advisors LLC Increases Holdings in Johnson Controls International plc (NYSE:JCI)

Concurrent Investment Advisors LLC raised its stake in shares of Johnson Controls International plc (NYSE:JCI) by 24.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,019 shares of the company’s stock after buying an additional 973 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Johnson Controls International were worth $334,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in JCI. Vanguard Group Inc. raised its stake in shares of Johnson Controls International by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 71,387,169 shares of the company’s stock worth $4,114,756,000 after purchasing an additional 10,522,009 shares during the last quarter. Capital World Investors raised its stake in shares of Johnson Controls International by 85.5% in the first quarter. Capital World Investors now owns 14,142,736 shares of the company’s stock worth $923,804,000 after purchasing an additional 6,520,580 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Johnson Controls International by 95.9% in the first quarter. Bank of New York Mellon Corp now owns 12,760,120 shares of the company’s stock worth $833,491,000 after purchasing an additional 6,247,250 shares during the last quarter. Norges Bank purchased a new position in shares of Johnson Controls International in the fourth quarter worth $316,400,000. Finally, Clean Energy Transition LLP purchased a new position in shares of Johnson Controls International in the fourth quarter worth $124,553,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Johnson Controls International Stock Performance

NYSE:JCI opened at $70.77 on Wednesday. The stock has a 50-day simple moving average of $68.88 and a two-hundred day simple moving average of $66.71. Johnson Controls International plc has a 52-week low of $47.90 and a 52-week high of $75.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 0.96. The firm has a market capitalization of $47.28 billion, a PE ratio of 28.65, a P/E/G ratio of 1.97 and a beta of 1.29.

Johnson Controls International (NYSE:JCI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.06. The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $7.53 billion. Johnson Controls International had a return on equity of 13.64% and a net margin of 6.02%. Johnson Controls International’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.03 earnings per share. Analysts forecast that Johnson Controls International plc will post 3.67 EPS for the current year.

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Monday, June 24th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Monday, June 24th. Johnson Controls International’s dividend payout ratio (DPR) is 59.92%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Oppenheimer boosted their price target on Johnson Controls International from $70.00 to $76.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Barclays decreased their price target on Johnson Controls International from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company boosted their price target on Johnson Controls International from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised Johnson Controls International from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $61.00 to $69.00 in a report on Wednesday, August 14th. Finally, The Goldman Sachs Group lifted their price objective on Johnson Controls International from $73.00 to $81.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Johnson Controls International currently has an average rating of “Hold” and an average target price of $68.31.

Insider Transactions at Johnson Controls International

In other news, COO Nathan D. Manning sold 1,167 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $70.71, for a total value of $82,518.57. Following the completion of the transaction, the chief operating officer now owns 103,866 shares of the company’s stock, valued at $7,344,364.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 2,892 shares of company stock valued at $197,011 over the last 90 days. Company insiders own 0.69% of the company’s stock.

Johnson Controls International Profile

Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products and systems in the United States, Europe, the Asia Pacific, and internationally. It operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.