Concord Wealth Partners Takes Position in Johnson Controls International plc (NYSE:JCI)

Posted by Defense World Staff on Apr 14th, 2023

Concord Wealth Partners purchased a new position in Johnson Controls International plc (NYSE:JCI – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 824 shares of the company’s stock, valued at approximately $53,000.

A number of other hedge funds also recently bought and sold shares of JCI. Canton Hathaway LLC purchased a new stake in shares of Johnson Controls International during the 4th quarter valued at about $26,000. Massmutual Trust Co. FSB ADV increased its holdings in Johnson Controls International by 48.3% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 654 shares of the company’s stock worth $32,000 after acquiring an additional 213 shares in the last quarter. Rosenberg Matthew Hamilton purchased a new stake in Johnson Controls International in the 3rd quarter worth approximately $36,000. Salem Investment Counselors Inc. increased its holdings in Johnson Controls International by 152.4% in the 1st quarter. Salem Investment Counselors Inc. now owns 588 shares of the company’s stock worth $39,000 after acquiring an additional 355 shares in the last quarter. Finally, CI Investments Inc. increased its holdings in Johnson Controls International by 979.1% in the 3rd quarter. CI Investments Inc. now owns 928 shares of the company’s stock worth $46,000 after acquiring an additional 842 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.

Insider Activity

In other news, VP Daniel C. Mcconeghy sold 3,068 shares of the firm’s stock in a transaction on Friday, February 10th. The stock was sold at an average price of $64.43, for a total transaction of $197,671.24. Following the transaction, the vice president now owns 5,054 shares in the company, valued at $325,629.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.71% of the company’s stock.

Johnson Controls International Stock Performance

JCI stock opened at $57.50 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.02 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $61.44 and its two-hundred day simple moving average is $61.91. Johnson Controls International plc has a twelve month low of $45.52 and a twelve month high of $69.60. The firm has a market cap of $35.55 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 1.20 and a beta of 1.22.

Johnson Controls International (NYSE:JCI – Get Rating) last released its earnings results on Wednesday, February 1st. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Johnson Controls International had a return on equity of 12.51% and a net margin of 4.98%. The business had revenue of $6.07 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter last year, the firm posted $0.54 earnings per share. The business’s revenue was up 3.5% compared to the same quarter last year. Analysts predict that Johnson Controls International plc will post 3.48 earnings per share for the current year.

Johnson Controls International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Monday, March 20th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, March 17th. This represents a $1.44 annualized dividend and a dividend yield of 2.50%. This is a positive change from Johnson Controls International’s previous quarterly dividend of $0.35. Johnson Controls International’s dividend payout ratio (DPR) is currently 78.26%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Johnson Controls International in a report on Thursday, March 16th. They set a “buy” rating for the company. Oppenheimer cut their price objective on shares of Johnson Controls International from $76.00 to $72.00 and set an “outperform” rating for the company in a report on Thursday, February 2nd. Barclays lowered their target price on Johnson Controls International from $73.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft lowered their target price on Johnson Controls International from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Wells Fargo & Company lowered their target price on Johnson Controls International from $74.00 to $69.00 and set an “overweight” rating for the company in a research report on Wednesday, March 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.50.

Johnson Controls International Company Profile

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Johnson Controls International Plc engages in the provision of building products, energy solutions, integrated infrastructure and next generation transportation systems. Its technology and service capabilities include fire, security, HVAC, power solutions and energy storage to serve various end markets including large institutions, commercial buildings, retail, industrial, small business and residential.