Resonant Capital Advisors LLC Enters Stake in Johnson Controls International plc (NYSE:JCI)

Resonant Capital Advisors LLC has made a new investment in Johnson Controls International plc (NYSE:JCI) during the third quarter of the fiscal year, as reported in the firm’s latest Form 13F filing with the Securities and Exchange Commission. This institutional investor acquired 3,074 shares of Johnson Controls, amounting to an approximate value of $240,000.

In addition, several other hedge funds and institutional investors have adjusted their holdings in the company. Wolff Wiese Magana LLC expanded its investment in Johnson Controls International by a remarkable 977.3% during the third quarter, resulting in ownership of 474 shares worth $37,000 after acquiring 430 new shares in the quarter. Similarly, Continuum Advisory LLC increased its holdings by 65.2% in the second quarter, now owning 527 shares valued at $35,000 after purchasing 208 additional shares. Friedenthal Financial entered a new investment position worth $47,000 in the same quarter. Additionally, Hexagon Capital Partners LLC raised its stake in Johnson Controls by 39.7%, owning 711 shares worth $47,000 after acquiring an extra 202 shares. Finally, Family Firm Inc. also took on a new position valued at $48,000 during the second quarter. Notably, institutional investors now hold 90.05% of the company's shares.

Analysis from Wall Street

Johnson Controls International has recently been featured in various analyst reports. Robert W. Baird raised their price target for the company from $72.00 to $78.00, designating it with a “neutral” rating in an analysis published on August 1st. Bank of America increased its target price from $80.00 to $95.00, providing a “buy” rating on September 27th. Morgan Stanley initiated coverage on the company on September 6th, placing an “overweight” rating and a $85.00 target price on the stock. Oppenheimer raised its price objective from $79.00 to $86.00, giving it an “outperform” rating on October 2nd. Additionally, StockNews.com upgraded Johnson Controls International from a “hold” rating to a “buy” rating. Currently, eleven investment analysts have assigned the stock a hold rating, while six have issued a buy rating, giving the company an average rating of “Hold” and a consensus target price of $73.43, according to data from MarketBeat.

Market Performance

On Tuesday, Johnson Controls International shares opened at $77.16. The company has recorded a 52-week low of $47.90 and a high of $78.23, and it currently boasts a market capitalization of $51.54 billion. With a price-to-earnings ratio of 32.28 and a price-to-earnings-growth ratio of 2.21, the firm has a beta of 1.29. Its 50-day moving average sits at $73.33, while the 200-day moving average is at $69.75. The firm shows a quick ratio of 0.73, a current ratio of 0.96, and a debt-to-equity ratio of 0.46.

Johnson Controls International last released its earnings report on July 31st, revealing $1.14 earnings per share (EPS), which exceeded the consensus estimate of $1.08 by $0.06. The company reported a net margin of 6.02% and a return on equity of 13.64%. It recorded revenues of $7.23 billion for the quarter, slightly below analysts’ expectations of $7.53 billion. Compared to the same period last year, the revenue showed a 1.4% increase. Analysts predict Johnson Controls will produce 3.68 EPS for the current financial year.

Dividend Announcement

Johnson Controls also announced recently that it paid its quarterly dividend on October 18th. Shareholders on record as of September 25th received a dividend of $0.37 per share, translating into an annualized dividend of $1.48 and a dividend yield of 1.92%. The ex-dividend date was set for September 25th, and the company's payout ratio currently stands at 61.92%.

Insider Trading Activity

In related news, COO Nathan D. Manning sold 1,167 shares of the company on August 1st for an average price of $70.71, totaling $82,518.57. After this transaction, Manning holds 103,866 shares valued around $7,344,364.86, marking no significant change in ownership percentage. Furthermore, on October 1st, Manning sold an additional 3,000 shares at an average price of $77.08, bringing in $231,240.00; he now owns 140,488 shares valued at approximately $10,828,815.04. The SEC filed disclosures highlight that insiders have sold 227,494 shares worth around $16,999,239 in the last quarter. Corporate insiders maintain ownership of 0.69% of the firm’s shares.

About Johnson Controls International

Johnson Controls International plc, along with its subsidiaries, specializes in the engineering, manufacturing, commissioning, and retrofitting of building products and systems across the US, Europe, Asia Pacific, and other international markets. The company operates through four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.

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