State of Michigan Retirement System Cuts Position in Johnson Controls International plc $JCI

State of Michigan Retirement System lessened its position in Johnson Controls International plc (NYSE:JCI) by 2.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 156,256 shares of the company’s stock after selling 3,600 shares during the quarter. State of Michigan Retirement System’s holdings in Johnson Controls International were worth $22,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in JCI. Brighton Jones LLC bought a new stake in Johnson Controls International during the fourth quarter worth about $222,000. Acadian Asset Management LLC purchased a new position in shares of Johnson Controls International in the 1st quarter worth about $55,000. Sivia Capital Partners LLC increased its position in shares of Johnson Controls International by 83.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,049 shares of the company’s stock valued at $745,000 after purchasing an additional 3,203 shares during the last quarter. Jump Financial LLC increased its position in shares of Johnson Controls International by 3.5% during the 2nd quarter. Jump Financial LLC now owns 12,578 shares of the company’s stock valued at $1,328,000 after purchasing an additional 425 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Johnson Controls International by 120.7% during the 2nd quarter. Federated Hermes Inc. now owns 12,359 shares of the company’s stock valued at $1,305,000 after buying an additional 6,760 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Johnson Controls International Stock Performance

Shares of NYSE:JCI opened at $153.73 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $144.91 and a 200-day moving average price of $139.75. The company has a market cap of $93.12 billion, a price-to-earnings ratio of 26.74, a price-to-earnings-growth ratio of 1.46 and a beta of 1.31. Johnson Controls International plc has a 12 month low of $103.07 and a 12 month high of $157.06.

Johnson Controls International (NYSE:JCI) last posted its earnings results on Thursday, July 30th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.12. Johnson Controls International had a return on equity of 22.11% and a net margin of 14.32%.The company had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.46 billion. During the same period last year, the firm earned $1.05 earnings per share. Johnson Controls International’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts anticipate that Johnson Controls International plc will post 5.08 EPS for the current year.

Johnson Controls International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, June 15th. Johnson Controls International’s dividend payout ratio (DPR) is currently 27.83%.

Insider Buying and Selling

In other news, VP Lei Zhang Schlitz sold 23,417 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $153.07, for a total transaction of $3,584,440.19. Following the transaction, the vice president directly owned 15,017 shares of the company’s stock, valued at approximately $2,298,652.19. The trade was a 60.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd M. Grabowski sold 1,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $146.20, for a total value of $263,160.00. Following the transaction, the vice president owned 26,215 shares of the company’s stock, valued at approximately $3,832,633. This represents a 6.43% decrease in their position. The SEC filing for this sale provides additional information. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on JCI shares. UBS Group restated a “buy” rating on shares of Johnson Controls International in a research report on Thursday, July 30th. Wolfe Research reiterated an “outperform” rating and set a $171.00 price target on shares of Johnson Controls International in a research report on Wednesday, June 3rd. HSBC boosted their price objective on shares of Johnson Controls International from $127.00 to $136.00 in a report on Thursday, May 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Johnson Controls International in a research note on Tuesday, June 2nd. Finally, Wall Street Zen lowered shares of Johnson Controls International from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Twelve analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $155.50.

Johnson Controls International Profile

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.