BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Position in Johnson Controls International plc (NYSE:JCI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Johnson Controls International plc (NYSE:JCI) by 60.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 130,514 shares of the company’s stock after buying an additional 49,246 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Johnson Controls International were worth $8,675,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Johnson Controls International by 17.3% during the 4th 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 period. Capital World Investors boosted its stake in Johnson Controls International by 85.5% during the first quarter. Capital World Investors now owns 14,142,736 shares of the company’s stock worth $923,804,000 after buying an additional 6,520,580 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Johnson Controls International by 686.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,445,418 shares of the company’s stock valued at $295,487,000 after acquiring an additional 3,880,146 shares during the last quarter. Clean Energy Transition LLP purchased a new stake in shares of Johnson Controls International in the 4th quarter valued at approximately $124,553,000. Finally, M&G Plc purchased a new stake in shares of Johnson Controls International in the 1st quarter valued at approximately $120,948,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on JCI. Royal Bank of Canada upgraded shares of Johnson Controls International from an “underperform” rating to a “sector perform” rating and lifted their target price for the company from $61.00 to $69.00 in a report on Wednesday, August 14th. Morgan Stanley began coverage on Johnson Controls International in a research report on Friday, September 6th. They set an “overweight” rating and a $85.00 target price on the stock. Robert W. Baird upped their price target on Johnson Controls International from $72.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price objective on shares of Johnson Controls International from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Bank of America upgraded shares of Johnson Controls International from a “neutral” rating to a “buy” rating and upped their target price for the company from $76.00 to $80.00 in a report on Tuesday, September 10th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $70.21.

Johnson Controls International Trading Up 0.4 %

NYSE:JCI opened at $75.86 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. Johnson Controls International plc has a 12-month low of $47.90 and a 12-month high of $75.98. The firm has a market cap of $51.11 billion, a P/E ratio of 30.71, a PEG ratio of 1.98 and a beta of 1.29. The stock’s 50 day simple moving average is $70.13 and its 200-day simple moving average is $68.04.

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

Johnson Controls International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Wednesday, September 25th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $1.48 annualized dividend and a yield of 1.95%. Johnson Controls International’s dividend payout ratio is presently 59.92%.

Insider Buying and Selling at Johnson Controls International

In other news, COO Nathan D. Manning sold 1,167 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $72.75, for a total transaction of $84,899.25. Following the sale, the chief operating officer now owns 143,488 shares in the company, valued at $10,438,752. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Johnson Controls International news, COO Nathan D. Manning sold 1,167 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $72.75, for a total value of $84,899.25. Following the sale, the chief operating officer now directly owns 143,488 shares of the company’s stock, valued at approximately $10,438,752. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO George Oliver sold 110,615 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.67, for a total transaction of $8,038,392.05. Following the transaction, the chief executive officer now directly owns 1,243,751 shares of the company’s stock, valued at approximately $90,383,385.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,046 shares of company stock worth $8,347,562. Corporate insiders own 0.69% of the company’s stock.

Johnson Controls International Company 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.