Payden & Rygel Takes $10.50 Million Position in Johnson Controls International plc $JCI

Payden & Rygel purchased a new position in Johnson Controls International plc (NYSE:JCI) in the fourth quarter, HoldingsChannel reports. The fund purchased 87,700 shares of the company’s stock, valued at approximately $10,502,000.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in Johnson Controls International by 0.6% during the third quarter. State Street Corp now owns 28,684,645 shares of the company’s stock valued at $3,165,286,000 after buying an additional 163,167 shares during the period. Fisher Asset Management LLC grew its holdings in Johnson Controls International by 2.1% in the third quarter. Fisher Asset Management LLC now owns 16,959,249 shares of the company’s stock worth $1,864,670,000 after purchasing an additional 354,266 shares during the period. Capital World Investors increased its stake in shares of Johnson Controls International by 0.3% during the third quarter. Capital World Investors now owns 7,535,476 shares of the company’s stock valued at $828,526,000 after purchasing an additional 19,550 shares in the last quarter. Northern Trust Corp boosted its position in shares of Johnson Controls International by 1.1% in the 3rd quarter. Northern Trust Corp now owns 6,907,287 shares of the company’s stock worth $759,456,000 after purchasing an additional 72,917 shares in the last quarter. Finally, Viking Global Investors LP boosted its position in shares of Johnson Controls International by 368.5% in the 3rd quarter. Viking Global Investors LP now owns 6,796,942 shares of the company’s stock worth $747,324,000 after purchasing an additional 5,346,130 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on JCI shares. HSBC raised their price objective on Johnson Controls International from $127.00 to $136.00 in a research report on Thursday, May 7th. BNP Paribas Exane began coverage on shares of Johnson Controls International in a research report on Tuesday, April 14th. They set an “underperform” rating and a $120.00 price target for the company. The Goldman Sachs Group boosted their price target on Johnson Controls International from $154.00 to $158.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Wall Street Zen upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating in a research report on Sunday, May 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Johnson Controls International in a research report on Thursday, January 22nd. Eleven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $147.63.

Johnson Controls International Stock Performance

JCI opened at $137.33 on Tuesday. Johnson Controls International plc has a 12-month low of $96.01 and a 12-month high of $147.32. The company’s 50 day moving average is $137.41 and its 200 day moving average is $127.70. The company has a current ratio of 1.04, a quick ratio of 0.85 and a debt-to-equity ratio of 0.64. The company has a market cap of $83.79 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.58 and a beta of 1.37.

Johnson Controls International (NYSE:JCI) last announced its earnings results on Tuesday, March 31st. The company reported $1.19 EPS for the quarter. The company had revenue of $6.14 billion for the quarter. Johnson Controls International had a return on equity of 19.50% and a net margin of 14.45%. On average, equities research analysts predict that Johnson Controls International plc will post 4.87 EPS for the current year.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Monday, March 16th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 16th. Johnson Controls International’s dividend payout ratio is currently 28.62%.

Insider Activity at Johnson Controls International

In other Johnson Controls International news, VP Lei Zhang Schlitz sold 88,809 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $140.99, for a total transaction of $12,521,180.91. Following the sale, the vice president owned 57,059 shares in the company, valued at approximately $8,044,748.41. This trade represents a 60.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Daniel C. Mcconeghy sold 3,600 shares of Johnson Controls International stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $142.56, for a total transaction of $513,216.00. Following the transaction, the vice president directly owned 24,273 shares in the company, valued at $3,460,358.88. This represents a 12.92% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.29% of the company’s stock.

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.