Intech Investment Management LLC Reduces Stake in Johnson Controls International plc (NYSE:JCI)

Intech Investment Management LLC lowered its stake in Johnson Controls International plc (NYSE:JCI) by 33.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,393 shares of the company’s stock after selling 32,401 shares during the quarter. Intech Investment Management LLC’s holdings in Johnson Controls International were worth $4,214,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of JCI. Vanguard Group Inc. grew its stake in Johnson Controls International by 17.3% during the fourth quarter. Vanguard Group Inc. now owns 71,387,169 shares of the company’s stock valued at $4,114,756,000 after acquiring an additional 10,522,009 shares in the last quarter. Capital World Investors boosted its holdings in Johnson Controls International by 85.5% in the 1st quarter. Capital World Investors now owns 14,142,736 shares of the company’s stock valued at $923,804,000 after purchasing an additional 6,520,580 shares during the period. Fisher Asset Management LLC grew its position in shares of Johnson Controls International by 4.7% during the 4th quarter. Fisher Asset Management LLC now owns 13,514,262 shares of the company’s stock valued at $778,962,000 after purchasing an additional 604,142 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 period. Finally, Dimensional Fund Advisors LP boosted its stake in Johnson Controls International by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,855,075 shares of the company’s stock valued at $389,214,000 after buying an additional 479,548 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO George Oliver sold 110,615 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.67, for a total value of $8,038,392.05. Following the sale, the chief executive officer now directly owns 1,243,751 shares of the company’s stock, valued at $90,383,385.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO George Oliver sold 110,615 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $72.67, for a total value of $8,038,392.05. Following the completion of the sale, the chief executive officer now owns 1,243,751 shares of the company’s stock, valued at $90,383,385.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nathan D. Manning sold 1,167 shares of Johnson Controls International stock in a transaction on Monday, July 1st. The shares were sold at an average price of $66.01, for a total transaction of $77,033.67. Following the completion of the sale, the chief operating officer now owns 104,556 shares in the company, valued at approximately $6,901,741.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,046 shares of company stock valued at $8,347,562. Insiders own 0.69% of the company’s stock.

Johnson Controls International Price Performance

JCI opened at $74.10 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $69.95 and its 200 day simple moving average is $67.79. The firm has a market cap of $49.92 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.91 and a beta of 1.29. Johnson Controls International plc has a 1 year low of $47.90 and a 1 year high of $75.36.

Johnson Controls International (NYSE:JCI) last issued its earnings results on Wednesday, July 31st. The company reported $1.14 earnings per share (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 firm had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter last year, the business earned $1.03 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. As a group, analysts predict that Johnson Controls International plc will post 3.67 earnings per share 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. Shareholders of record on Wednesday, September 25th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Wednesday, September 25th. Johnson Controls International’s payout ratio is 59.92%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company raised their price target on Johnson Controls International from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on shares of Johnson Controls International from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Johnson Controls International from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Oppenheimer raised their price objective on shares of Johnson Controls International from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Finally, Royal Bank of Canada upgraded shares of Johnson Controls International from an “underperform” rating to a “sector perform” rating and upped their target price for the stock from $61.00 to $69.00 in a research report on Wednesday, August 14th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.21.

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.