Nordea Investment Management AB Sells 731,891 Shares of Johnson Controls International plc (NYSE:JCI)

Posted by Defense World Staff on May 12th, 2023

Nordea Investment Management AB lowered its position in Johnson Controls International plc (NYSE:JCI – Get Rating) by 93.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 52,280 shares of the company’s stock after selling 731,891 shares during the quarter. Nordea Investment Management AB’s holdings in Johnson Controls International were worth $3,334,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Profund Advisors LLC grew its holdings in Johnson Controls International by 21.4% during the 4th quarter. Profund Advisors LLC now owns 7,661 shares of the company’s stock valued at $490,000 after buying an additional 1,348 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Johnson Controls International by 17.1% during the third quarter. Victory Capital Management Inc. now owns 859,064 shares of the company’s stock worth $42,283,000 after purchasing an additional 125,229 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Johnson Controls International by 17.8% during the fourth quarter. Russell Investments Group Ltd. now owns 304,896 shares of the company’s stock worth $19,548,000 after purchasing an additional 46,134 shares in the last quarter. Moors & Cabot Inc. lifted its position in Johnson Controls International by 1.5% in the 4th quarter. Moors & Cabot Inc. now owns 12,550 shares of the company’s stock worth $1,020,000 after buying an additional 187 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Johnson Controls International by 16.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 9,659 shares of the company’s stock worth $475,000 after buying an additional 1,375 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Analyst Upgrades and Downgrades

JCI has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped 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, April 12th. StockNews.com upgraded Johnson Controls International from a “hold” rating to a “buy” rating in a research report on Monday. Mizuho boosted their target price on Johnson Controls International from $72.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, January 13th. JPMorgan Chase & Co. boosted their price objective on Johnson Controls International from $70.00 to $72.00 in a research report on Monday. Finally, Wells Fargo & Company lowered their price objective on Johnson Controls International from $69.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.31.

Insider Activity at Johnson Controls International

In related news, VP John Donofrio sold 14,253 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $63.02, for a total value of $898,224.06. Following the sale, the vice president now owns 37,090 shares in the company, valued at $2,337,411.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Olivier Leonetti sold 30,997 shares of Johnson Controls International stock in a transaction on Monday, May 8th. The shares were sold at an average price of $62.36, for a total transaction of $1,932,972.92. Following the transaction, the chief financial officer now owns 101,757 shares in the company, valued at approximately $6,345,566.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Donofrio sold 14,253 shares of Johnson Controls International stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $63.02, for a total transaction of $898,224.06. Following the transaction, the vice president now owns 37,090 shares in the company, valued at approximately $2,337,411.80. The disclosure for this sale can be found here. 0.71% of the stock is owned by insiders.

Johnson Controls International Trading Down 0.4 %

NYSE:JCI opened at $62.06 on Friday. The stock has a market cap of $42.58 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.30 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 1.03 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $59.62 and its 200-day moving average price is $63.05. Johnson Controls International plc has a 52 week low of $45.52 and a 52 week high of $69.60.

Johnson Controls International (NYSE:JCI – Get Rating) last announced its quarterly earnings results on Friday, May 5th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.02. The company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.51 billion. Johnson Controls International had a net margin of 5.33% and a return on equity of 13.07%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. On average, equities research analysts forecast that Johnson Controls International plc will post 3.56 earnings per share for the current fiscal year.

Johnson Controls International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Monday, March 20th were given a dividend of $0.36 per share. The ex-dividend date was Friday, March 17th. This represents a $1.44 annualized dividend and a dividend yield of 2.32%. This is an increase from Johnson Controls International’s previous quarterly dividend of $0.35. Johnson Controls International’s dividend payout ratio (DPR) is 71.64%.

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.