Socorro Asset Management LP Reduces Holdings in Johnson Controls International plc $JCI

Socorro Asset Management LP reduced its stake in shares of Johnson Controls International plc (NYSE:JCI) by 31.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,105 shares of the company’s stock after selling 20,224 shares during the quarter. Johnson Controls International comprises approximately 2.6% of Socorro Asset Management LP’s portfolio, making the stock its 25th largest holding. Socorro Asset Management LP’s holdings in Johnson Controls International were worth $5,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of JCI. State Street Corp grew its holdings in shares of Johnson Controls International by 0.6% during the third quarter. State Street Corp now owns 28,684,645 shares of the company’s stock worth $3,165,286,000 after purchasing an additional 163,167 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Johnson Controls International by 3.3% in the 4th quarter. Franklin Resources Inc. now owns 22,655,105 shares of the company’s stock valued at $2,712,949,000 after purchasing an additional 718,245 shares during the period. Fisher Asset Management LLC boosted its position in shares of Johnson Controls International by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 17,239,953 shares of the company’s stock valued at $2,064,485,000 after purchasing an additional 280,704 shares during the period. Invesco Ltd. grew its stake in Johnson Controls International by 13.0% during the 4th quarter. Invesco Ltd. now owns 16,003,486 shares of the company’s stock worth $1,916,417,000 after buying an additional 1,837,220 shares during the last quarter. Finally, Norges Bank purchased a new position in Johnson Controls International during the 4th quarter worth approximately $927,739,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Johnson Controls International Trading Down 0.0%

Shares of JCI stock opened at $143.35 on Tuesday. The company has a market capitalization of $87.46 billion, a P/E ratio of 25.64, a price-to-earnings-growth ratio of 1.54 and a beta of 1.31. 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 business’s 50 day moving average is $141.96 and its two-hundred day moving average is $136.33. Johnson Controls International plc has a twelve month low of $102.09 and a twelve month high of $151.18.

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

Johnson Controls International Dividend Announcement

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

Insider Transactions at Johnson Controls International

In other Johnson Controls International news, VP Todd M. Grabowski sold 1,800 shares of Johnson Controls International stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $146.20, for a total value of $263,160.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lei Zhang Schlitz sold 88,809 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $140.99, for a total value of $12,521,180.91. Following the transaction, the vice president directly owned 57,059 shares of the company’s stock, valued at approximately $8,044,748.41. This trade represents a 60.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on JCI shares. The Goldman Sachs Group boosted their price objective on Johnson Controls International from $169.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Wolfe Research reaffirmed an “outperform” rating and issued a $171.00 target price on shares of Johnson Controls International in a report on Wednesday, June 3rd. Sanford C. Bernstein began coverage on shares of Johnson Controls International in a research report on Tuesday, June 9th. They issued an “outperform” rating and a $176.00 price target for the company. Morgan Stanley upped their price target on shares of Johnson Controls International from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Tuesday, June 9th. Finally, UBS Group increased their price target on shares of Johnson Controls International from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.85.

About Johnson Controls International

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.