Summit Asset Management LLC Grows Stake in Johnson Controls International plc (NYSE:JCI)

Summit Asset Management LLC raised its holdings in shares of Johnson Controls International plc (NYSE:JCI) by 1.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,800 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Summit Asset Management LLC’s holdings in Johnson Controls International were worth $1,405,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of JCI. Compass Financial Services Inc bought a new position in Johnson Controls International in the fourth quarter worth approximately $26,000. Fortitude Family Office LLC increased its position in shares of Johnson Controls International by 195.8% during the third quarter. Fortitude Family Office LLC now owns 420 shares of the company’s stock worth $33,000 after purchasing an additional 278 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Johnson Controls International in the 4th quarter valued at $42,000. ST Germain D J Co. Inc. increased its position in shares of Johnson Controls International by 32.8% in the 4th quarter. ST Germain D J Co. Inc. now owns 543 shares of the company’s stock valued at $43,000 after acquiring an additional 134 shares during the period. Finally, Western Pacific Wealth Management LP acquired a new position in shares of Johnson Controls International in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Insider Activity

In other Johnson Controls International news, VP Nathan D. Manning sold 1,421 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $76.44, for a total transaction of $108,621.24. Following the transaction, the vice president now directly owns 148,346 shares in the company, valued at approximately $11,339,568.24. This represents a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO George Oliver sold 124,497 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $82.67, for a total transaction of $10,292,166.99. Following the completion of the sale, the chief executive officer now owns 1,267,716 shares in the company, valued at $104,802,081.72. This represents a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 719,004 shares of company stock worth $62,950,067. 0.54% of the stock is currently owned by corporate insiders.

Johnson Controls International Stock Performance

Johnson Controls International stock opened at $85.23 on Friday. The firm’s 50 day simple moving average is $82.06 and its 200-day simple moving average is $78.47. The company has a market cap of $56.26 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 1.96 and a beta of 1.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 0.86. Johnson Controls International plc has a fifty-two week low of $57.78 and a fifty-two week high of $91.14.

Johnson Controls International (NYSE:JCI) last posted its earnings results on Wednesday, February 5th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. Johnson Controls International had a net margin of 6.83% and a return on equity of 15.11%. As a group, equities research analysts predict that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Monday, December 23rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Monday, December 23rd. Johnson Controls International’s dividend payout ratio is 56.49%.

Wall Street Analyst Weigh In

Several research firms have commented on JCI. JPMorgan Chase & Co. upped their price target on shares of Johnson Controls International from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Barclays upped their price target on shares of Johnson Controls International from $75.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com downgraded shares of Johnson Controls International from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Morgan Stanley increased their price objective on shares of Johnson Controls International from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Oppenheimer increased their price objective on shares of Johnson Controls International from $86.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.13.

Johnson Controls International Profile

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.