Cullen Capital Management LLC Makes New Investment in Johnson Controls International plc $JCI

Cullen Capital Management LLC bought a new stake in Johnson Controls International plc (NYSE:JCI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,671,438 shares of the company’s stock, valued at approximately $244,214,000. Johnson Controls International comprises approximately 2.4% of Cullen Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Cullen Capital Management LLC owned 0.28% of Johnson Controls International as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its position in Johnson Controls International by 0.6% during the 3rd quarter. State Street Corp now owns 28,684,645 shares of the company’s stock worth $3,165,286,000 after buying an additional 163,167 shares during the period. Franklin Resources Inc. increased its position in Johnson Controls International by 3.3% in the 4th quarter. Franklin Resources Inc. now owns 22,655,105 shares of the company’s stock valued at $2,712,949,000 after acquiring an additional 718,245 shares during the period. Fisher Asset Management LLC increased its position in Johnson Controls International by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 17,239,953 shares of the company’s stock valued at $2,064,485,000 after acquiring an additional 280,704 shares during the period. Invesco Ltd. raised 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 acquiring an additional 1,837,220 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Johnson Controls International during the fourth quarter valued at $927,739,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Johnson Controls International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. UBS Group reaffirmed a “buy” rating on shares of Johnson Controls International in a research report on Thursday, July 30th. Morgan Stanley lifted their target price on Johnson Controls International from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Tuesday, June 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Johnson Controls International in a report on Tuesday, June 2nd. Finally, Wolfe Research reiterated an “outperform” rating and issued a $171.00 price target on shares of Johnson Controls International in a research report on Wednesday, June 3rd. Twelve research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Johnson Controls International has a consensus rating of “Hold” and a consensus price target of $155.50.

Insider Transactions at Johnson Controls International

In other news, VP Todd M. Grabowski sold 1,800 shares of Johnson Controls International stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $146.20, for a total value of $263,160.00. Following the completion of the transaction, the vice president directly owned 26,215 shares of the company’s stock, valued at approximately $3,832,633. This trade represents a 6.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Lei Zhang Schlitz sold 23,417 shares of Johnson Controls International stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $153.07, for a total value of $3,584,440.19. Following the completion of the transaction, the vice president directly owned 15,017 shares of the company’s stock, valued at approximately $2,298,652.19. This trade represents a 60.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.29% of the company’s stock.

Johnson Controls International Stock Down 0.0%

Shares of NYSE JCI opened at $142.98 on Tuesday. The company’s 50 day moving average price is $145.16 and its 200-day moving average price is $141.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.83 and a current ratio of 1.00. Johnson Controls International plc has a 52-week low of $103.82 and a 52-week high of $157.06. The company has a market capitalization of $86.61 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.38 and a beta of 1.31.

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

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, June 15th. Johnson Controls International’s dividend payout ratio (DPR) is presently 27.83%.

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.