Stonebrook Private Inc. has expanded its holdings in Johnson Controls International plc (NYSE:JCI) by 1.8% during the second quarter, as reported in a recent filing with the Securities and Exchange Commission (SEC). This increase brings the firm’s total ownership to 27,323 shares, valued at approximately $2.87 million at the end of the quarter. The strategic move reflects growing interest in the company as a robust investment opportunity.
In addition to Stonebrook’s investment, several other institutional investors have adjusted their positions in Johnson Controls. For instance, Brighton Jones LLC established a new stake worth around $222,000 during the fourth quarter. Meanwhile, Kingsview Wealth Management LLC increased its holdings by 3.0% in the first quarter, now owning 5,958 shares valued at $477,000. Other notable changes include Private Advisor Group LLC, which boosted its stake by 1.9%, and IFP Advisors Inc., which grew its position by 128.7%.
As of now, institutional investors collectively own 90.05% of Johnson Controls stock, indicating strong institutional confidence in the company.
Stock Performance and Market Insights
Johnson Controls’ stock opened at $114.36 on Wednesday, with a market capitalization of $74.84 billion. The company exhibits a price-to-earnings (PE) ratio of 33.94 and a price-to-earnings-growth (PEG) ratio of 1.70, with a beta of 1.36. Its fifty-day moving average stands at $111.46, while the two-hundred-day moving average is $106.34. Over the past year, the stock has fluctuated between a low of $68.03 and a high of $123.78.
Recently, Johnson Controls announced a quarterly dividend of $0.40 per share, which was paid on October 17, 2023. This dividend reflects an increase from the previous quarterly payout of $0.37, representing an annualized dividend of $1.60 and a yield of 1.4%. The company’s dividend payout ratio is 31.43%, highlighting its commitment to returning value to shareholders.
Insider Transactions and Analyst Ratings
On the insider trading front, Lei Zhang Schlitz, Vice President of the company, sold 10,500 shares on November 6, 2023, at an average price of $122.03, totaling $1.28 million. After this transaction, Schlitz retains 115,220 shares valued at approximately $14.06 million. Similarly, another Vice President, Nathan D. Manning, sold 1,422 shares on September 2, 2023, for roughly $149,395.32. Insider trading reports indicate that corporate insiders have sold 17,839 shares valued at $2.06 million in the last ninety days, with insiders now owning 0.54% of the company’s stock.
Wall Street analysts are optimistic about Johnson Controls’ future. Deutsche Bank Aktiengesellschaft recently raised its target price from $124.00 to $125.00, maintaining a “buy” rating. Similarly, Wells Fargo & Company increased its price objective from $130.00 to $135.00, also giving the stock an “overweight” rating. In total, ten analysts have rated Johnson Controls as a “buy,” while ten have assigned a “hold” rating, contributing to a consensus rating of “Moderate Buy” with an average target price of $121.00.
The outlook for Johnson Controls International plc appears promising as it continues to engage in engineering, manufacturing, and retrofitting building products and systems across various global markets. The company’s strategic decisions and positive analyst ratings reinforce its potential for growth in the coming quarters.
