Bank of Nova Scotia Decreases Stake in Johnson Controls International plc $JCI

Bank of Nova Scotia lessened its holdings in shares of Johnson Controls International plc (NYSE:JCI) by 60.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 292,775 shares of the company’s stock after selling 454,528 shares during the quarter. Bank of Nova Scotia’s holdings in Johnson Controls International were worth $38,339,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Maseco LLP grew its position in shares of Johnson Controls International by 102.9% in the fourth quarter. Maseco LLP now owns 211 shares of the company’s stock valued at $25,000 after purchasing an additional 107 shares in the last quarter. Mcguire Capital Advisors Inc. purchased a new position in Johnson Controls International during the fourth quarter worth approximately $27,000. Twin Tree Management LP boosted its stake in Johnson Controls International by 140.9% during the fourth quarter. Twin Tree Management LP now owns 260 shares of the company’s stock worth $31,000 after buying an additional 895 shares during the last quarter. YANKCOM Partnership acquired a new position in Johnson Controls International during the fourth quarter worth $34,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in Johnson Controls International in the 4th quarter valued at $38,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on JCI. Wall Street Zen upgraded Johnson Controls International from a “hold” rating to a “buy” rating in a report on Sunday, May 3rd. The Goldman Sachs Group raised their price objective on shares of Johnson Controls International from $169.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Johnson Controls International in a research note on Tuesday, June 9th. Sanford C. Bernstein initiated coverage on shares of Johnson Controls International in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $176.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of Johnson Controls International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.85.

Johnson Controls International Price Performance

JCI stock opened at $143.35 on Friday. The business’s fifty day moving average price is $141.84 and its 200 day moving average price is $136.02. Johnson Controls International plc has a 12-month low of $102.09 and a 12-month high of $151.18. The company has a current ratio of 1.04, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $87.46 billion, a PE ratio of 25.64, a P/E/G ratio of 1.54 and a beta of 1.31.

Johnson Controls International (NYSE:JCI) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.19 earnings per share (EPS) for the quarter. The company had revenue of $6.14 billion for the quarter. Johnson Controls International had a net margin of 14.45% and a return on equity of 19.50%. On average, sell-side analysts anticipate that Johnson Controls International plc will post 4.9 EPS for the current year.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Monday, June 15th. Johnson Controls International’s dividend payout ratio is presently 28.62%.

Insiders Place Their Bets

In other news, VP Lei Zhang Schlitz sold 88,809 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $140.99, for a total value 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 represents a 60.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd M. Grabowski sold 1,800 shares of the firm’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 sale, the vice president owned 26,215 shares of the company’s stock, valued at approximately $3,832,633. The trade was a 6.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is currently owned by company insiders.

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.