Covington Capital Management Reduces Position in Johnson Controls International plc (NYSE:JCI)

Covington Capital Management trimmed its holdings in shares of Johnson Controls International plc (NYSE:JCIGet Rating) by 7.9% during the second quarter, Holdings Channel reports. The fund owned 8,192 shares of the company’s stock after selling 700 shares during the quarter. Covington Capital Management’s holdings in Johnson Controls International were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of JCI. Wellington Management Group LLP increased its position in shares of Johnson Controls International by 20.8% during the first quarter. Wellington Management Group LLP now owns 57,842,396 shares of the company’s stock worth $3,792,726,000 after acquiring an additional 9,941,674 shares during the last quarter. Norges Bank acquired a new position in Johnson Controls International in the fourth quarter worth about $552,369,000. Schroder Investment Management Group grew its stake in Johnson Controls International by 759.0% in the fourth quarter. Schroder Investment Management Group now owns 3,031,203 shares of the company’s stock worth $246,468,000 after purchasing an additional 2,678,321 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Johnson Controls International in the first quarter worth about $134,563,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in Johnson Controls International by 158.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,232,250 shares of the company’s stock worth $181,504,000 after purchasing an additional 1,367,535 shares in the last quarter. 88.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Johnson Controls International from $70.00 to $61.00 in a research note on Wednesday, July 13th. Jefferies Financial Group decreased their price target on Johnson Controls International from $70.00 to $65.00 in a research note on Friday, July 15th. TheStreet upgraded Johnson Controls International from a “c+” rating to a “b-” rating in a research note on Wednesday, September 7th. Morgan Stanley lifted their target price on Johnson Controls International from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, September 1st. Finally, Wells Fargo & Company decreased their target price on Johnson Controls International from $60.00 to $56.00 in a research note on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Johnson Controls International has a consensus rating of “Moderate Buy” and a consensus price target of $67.71.

Johnson Controls International Price Performance

Shares of NYSE:JCI opened at $53.61 on Monday. Johnson Controls International plc has a 12 month low of $45.52 and a 12 month high of $81.77. The stock has a market cap of $36.93 billion, a price-to-earnings ratio of 35.98, a PEG ratio of 1.20 and a beta of 1.17. The stock’s 50 day moving average price is $53.97 and its 200 day moving average price is $56.03. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.97 and a quick ratio of 0.76.

Johnson Controls International (NYSE:JCIGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, hitting the consensus estimate of $0.85. The firm had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.76 billion. Johnson Controls International had a return on equity of 11.35% and a net margin of 4.17%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 earnings per share. Equities research analysts anticipate that Johnson Controls International plc will post 3 earnings per share for the current fiscal year.

Johnson Controls International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, September 26th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 23rd. This represents a $1.40 annualized dividend and a dividend yield of 2.61%. Johnson Controls International’s dividend payout ratio is currently 93.96%.

Johnson Controls International Profile

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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.

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Institutional Ownership by Quarter for Johnson Controls International (NYSE:JCI)

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