Seven Eight Capital LP Invests $408,000 in Johnson Controls International plc (NYSE:JCI)

Seven Eight Capital LP purchased a new stake in shares of Johnson Controls International plc (NYSE:JCI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,140 shares of the company’s stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in JCI. United Services Automobile Association grew its position in shares of Johnson Controls International by 7.9% in the 4th quarter. United Services Automobile Association now owns 20,376 shares of the company’s stock worth $1,174,000 after buying an additional 1,490 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Johnson Controls International by 27.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 79,840 shares of the company’s stock worth $4,602,000 after purchasing an additional 17,263 shares during the period. M&G Plc bought a new position in shares of Johnson Controls International during the first quarter valued at approximately $120,948,000. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 10,522,009 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Johnson Controls International by 33.1% in the 4th quarter. D.A. Davidson & CO. now owns 26,919 shares of the company’s stock worth $1,552,000 after purchasing an additional 6,697 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Nathan D. Manning sold 1,167 shares of Johnson Controls International stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $70.71, for a total transaction of $82,518.57. Following the transaction, the chief operating officer now directly owns 103,866 shares in the company, valued at $7,344,364.86. The transaction was disclosed in a document filed 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 that occurred on Thursday, August 1st. The shares were sold at an average price of $70.71, for a total transaction of $82,518.57. Following the sale, the chief operating officer now owns 103,866 shares in the company, valued at approximately $7,344,364.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO George Oliver sold 110,615 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $72.67, for a total transaction of $8,038,392.05. Following the completion of the transaction, the chief executive officer now owns 1,243,751 shares of the company’s stock, valued at $90,383,385.17. The disclosure for this sale can be found here. Insiders sold a total of 115,046 shares of company stock valued at $8,347,562 in the last 90 days. Company insiders own 0.69% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on JCI shares. Royal Bank of Canada raised Johnson Controls International from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $61.00 to $69.00 in a research report on Wednesday, August 14th. Robert W. Baird lifted their price target on Johnson Controls International from $72.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays cut their price objective on shares of Johnson Controls International from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Bank of America raised shares of Johnson Controls International from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $80.00 in a report on Tuesday, September 10th. Finally, Wells Fargo & Company increased their price target on shares of Johnson Controls International from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.21.

Johnson Controls International Stock Performance

Shares of JCI opened at $74.10 on Monday. Johnson Controls International plc has a one year low of $47.90 and a one year high of $75.36. The business has a fifty day moving average of $69.95 and a 200 day moving average of $67.84. 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 firm has a market capitalization of $49.92 billion, a P/E ratio of 30.00, a PEG ratio of 1.91 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 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Johnson Controls International plc will post 3.67 EPS for the current year.

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Wednesday, September 25th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Wednesday, September 25th. Johnson Controls International’s dividend payout ratio is presently 59.92%.

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.