Norges Bank Invests $927.74 Million in Johnson Controls International plc $JCI

Norges Bank acquired a new position in Johnson Controls International plc (NYSE:JCI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 7,747,300 shares of the company’s stock, valued at approximately $927,739,000.

A number of other hedge funds have also recently made changes to their positions in JCI. Viking Global Investors LP boosted its stake in shares of Johnson Controls International by 368.5% in the third quarter. Viking Global Investors LP now owns 6,796,942 shares of the company’s stock worth $747,324,000 after acquiring an additional 5,346,130 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Johnson Controls International by 140.8% in the second quarter. Ameriprise Financial Inc. now owns 4,575,414 shares of the company’s stock worth $483,281,000 after acquiring an additional 2,675,157 shares during the period. First Trust Advisors LP boosted its stake in shares of Johnson Controls International by 23.3% in the third quarter. First Trust Advisors LP now owns 3,519,724 shares of the company’s stock worth $386,994,000 after acquiring an additional 665,782 shares during the period. Man Group plc boosted its stake in shares of Johnson Controls International by 148.1% in the second quarter. Man Group plc now owns 832,921 shares of the company’s stock worth $87,973,000 after acquiring an additional 497,221 shares during the period. Finally, Interval Partners LP boosted its stake in shares of Johnson Controls International by 793.0% in the third quarter. Interval Partners LP now owns 513,401 shares of the company’s stock worth $56,448,000 after acquiring an additional 455,907 shares during the period. Institutional investors own 90.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Johnson Controls International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $154.00 price objective on shares of Johnson Controls International in a research note on Wednesday. The Goldman Sachs Group increased their price target on Johnson Controls International from $154.00 to $158.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Rothschild & Co Redburn increased their price target on Johnson Controls International from $137.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, February 9th. Finally, Wall Street Zen raised Johnson Controls International from a “hold” rating to a “buy” rating in a research note on Sunday, May 3rd. Eleven research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $147.63.

Insider Activity

In other news, VP Lei Zhang Schlitz sold 88,809 shares of the firm’s 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 completion of the sale, the vice president directly owned 57,059 shares of the company’s stock, valued at $8,044,748.41. This trade represents a 60.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is owned by insiders.

Johnson Controls International Price Performance

NYSE:JCI opened at $134.05 on Friday. The firm has a market capitalization of $81.78 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.45 and a beta of 1.37. Johnson Controls International plc has a 1 year low of $99.11 and a 1 year high of $147.32. The business has a 50 day simple moving average of $138.21 and a 200-day simple moving average of $128.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.04 and a quick ratio of 0.85.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.19 earnings per share (EPS) for the quarter. The business had revenue of $6.14 billion during the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%. Equities analysts forecast that Johnson Controls International plc will post 4.86 EPS for the current year.

Johnson Controls International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Monday, March 16th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, March 16th. Johnson Controls International’s dividend payout ratio (DPR) is presently 28.62%.

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.