Verdence Capital Advisors LLC Raises Stock Holdings in Johnson Controls International plc (NYSE:JCI)

11 Jan 2024, 12:48 by Kim Johansen · The Markets Daily

Verdence Capital Advisors LLC raised its holdings in Johnson Controls International plc (NYSE:JCI – Free Report) by 6.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,043 shares of the company’s stock after buying an additional 288 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Johnson Controls International were worth $268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Certified Advisory Corp purchased a new stake in Johnson Controls International in the first quarter valued at about $26,000. BDO Wealth Advisors LLC raised its stake in Johnson Controls International by 145.4% in the second quarter. BDO Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $29,000 after buying an additional 253 shares during the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in Johnson Controls International in the third quarter valued at about $30,000. Coppell Advisory Solutions LLC purchased a new stake in Johnson Controls International in the second quarter valued at about $32,000. Finally, Quent Capital LLC raised its stake in Johnson Controls International by 12,620.0% in the third quarter. Quent Capital LLC now owns 636 shares of the company’s stock valued at $34,000 after buying an additional 631 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Johnson Controls International Stock Down 0.4 %

Shares of JCI stock opened at $57.43 on Thursday. The stock has a 50 day moving average of $54.14 and a 200 day moving average of $57.51. The company has a current ratio of 0.97, a quick ratio of 0.72 and a debt-to-equity ratio of 0.44. The stock has a market cap of $39.09 billion, a P/E ratio of 21.35, a P/E/G ratio of 1.38 and a beta of 1.24. Johnson Controls International plc has a twelve month low of $47.90 and a twelve month high of $70.43.

Johnson Controls International (NYSE:JCI – Get Free Report) last announced its quarterly earnings results on Tuesday, December 12th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.04). The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $6.40 billion. Johnson Controls International had a net margin of 6.90% and a return on equity of 13.85%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 earnings per share. As a group, sell-side analysts expect that Johnson Controls International plc will post 3.68 EPS for the current year.

Johnson Controls International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Monday, December 18th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, December 15th. Johnson Controls International’s dividend payout ratio (DPR) is presently 55.02%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on JCI. HSBC upgraded Johnson Controls International from a “hold” rating to a “buy” rating and increased their price target for the company from $58.00 to $69.00 in a research note on Wednesday, September 27th. Royal Bank of Canada decreased their target price on Johnson Controls International from $58.00 to $54.00 and set a “sector perform” rating for the company in a report on Wednesday, December 13th. TheStreet raised Johnson Controls International from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. The Goldman Sachs Group downgraded Johnson Controls International from a “conviction-buy” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Wells Fargo & Company lifted their target price on Johnson Controls International from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, December 19th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Johnson Controls International presently has a consensus rating of “Moderate Buy” and an average target price of $65.58.

Get Our Latest Stock Report on Johnson Controls International

Insider Activity

In other news, CEO George Oliver sold 103,332 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $52.30, for a total value of $5,404,263.60. Following the completion of the sale, the chief executive officer now directly owns 980,403 shares in the company, valued at $51,275,076.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 207,038 shares of company stock worth $10,836,433 over the last three months. 0.71% of the stock is currently owned by corporate insiders.

Johnson Controls International Profile

(Free Report)

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.