Pictet Asset Management Holding SA Sells 598,775 Shares of Johnson Controls International plc $JCI

Pictet Asset Management Holding SA lowered its position in Johnson Controls International plc (NYSE:JCI) by 20.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,310,938 shares of the company’s stock after selling 598,775 shares during the quarter. Pictet Asset Management Holding SA owned 0.38% of Johnson Controls International worth $302,482,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in JCI. State Street Corp raised its position in Johnson Controls International by 0.6% in the third quarter. State Street Corp now owns 28,684,645 shares of the company’s stock worth $3,165,286,000 after purchasing an additional 163,167 shares in the last quarter. Franklin Resources Inc. grew its holdings in Johnson Controls International by 3.3% during the 4th quarter. Franklin Resources Inc. now owns 22,655,105 shares of the company’s stock worth $2,712,949,000 after acquiring an additional 718,245 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Johnson Controls International by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 17,239,953 shares of the company’s stock worth $2,064,485,000 after purchasing an additional 280,704 shares in the last quarter. Invesco Ltd. grew its stake in shares of Johnson Controls International by 13.0% during the fourth quarter. Invesco Ltd. now owns 16,003,486 shares of the company’s stock valued at $1,916,417,000 after purchasing an additional 1,837,220 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Johnson Controls International during the fourth quarter valued at approximately $927,739,000. Institutional investors and hedge funds own 90.05% of the company’s stock.

Johnson Controls International Price Performance

Shares of JCI stock opened at $138.62 on Friday. Johnson Controls International plc has a 12-month low of $102.09 and a 12-month high of $149.38. The firm has a market capitalization of $84.57 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32. The company has a quick ratio of 0.85, a current ratio of 1.04 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average of $141.69 and a 200-day moving average of $132.76.

Johnson Controls International (NYSE:JCI) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $1.19 EPS for the quarter. The business 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 forecast that Johnson Controls International plc will post 4.89 earnings per share for the current year.

Johnson Controls International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, June 15th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.2%. Johnson Controls International’s dividend payout ratio (DPR) is currently 28.62%.

Insider Activity

In related news, VP Lei Zhang Schlitz sold 88,809 shares of the business’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 transaction, the vice president directly owned 57,059 shares in the company, valued at approximately $8,044,748.41. The trade was a 60.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd M. Grabowski sold 1,800 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $146.20, for a total value of $263,160.00. Following the sale, the vice president directly owned 26,215 shares of the company’s stock, valued at approximately $3,832,633. The trade was a 6.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

JCI has been the subject of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating and issued a $154.00 price objective on shares of Johnson Controls International in a research report on Tuesday, June 2nd. Barclays lifted their price objective on Johnson Controls International from $136.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Johnson Controls International in a report on Tuesday, June 9th. Wolfe Research reaffirmed an “outperform” rating and issued a $171.00 target price on shares of Johnson Controls International in a research note on Wednesday, June 3rd. Finally, Zacks Research upgraded shares of Johnson Controls International from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Johnson Controls International currently has a consensus rating of “Moderate Buy” and an average price target of $152.85.

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.