KLP Kapitalforvaltning AS Increases Position in Johnson Controls International plc $JCI

KLP Kapitalforvaltning AS grew its stake in Johnson Controls International plc (NYSE:JCI) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 262,901 shares of the company’s stock after acquiring an additional 14,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Johnson Controls International were worth $27,868,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Iowa State Bank increased its holdings in shares of Johnson Controls International by 2.9% in the 2nd quarter. Iowa State Bank now owns 19,609 shares of the company’s stock valued at $2,071,000 after acquiring an additional 552 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Johnson Controls International by 16,575.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,275,357 shares of the company’s stock valued at $134,703,000 after acquiring an additional 1,267,709 shares during the period. Woodmont Investment Counsel LLC purchased a new position in shares of Johnson Controls International in the 2nd quarter valued at $220,000. Grimes & Company Inc. increased its holdings in shares of Johnson Controls International by 7.9% in the 2nd quarter. Grimes & Company Inc. now owns 3,522 shares of the company’s stock valued at $372,000 after acquiring an additional 259 shares during the period. Finally, Merit Financial Group LLC boosted its position in shares of Johnson Controls International by 35.3% in the 2nd quarter. Merit Financial Group LLC now owns 55,784 shares of the company’s stock worth $5,892,000 after purchasing an additional 14,555 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on JCI. Deutsche Bank Aktiengesellschaft raised their price objective on Johnson Controls International from $124.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Citigroup raised their price objective on Johnson Controls International from $110.00 to $112.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Johnson Controls International in a research report on Saturday, September 27th. Wolfe Research raised their price objective on Johnson Controls International from $132.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, September 12th. Finally, Morgan Stanley raised their price objective on Johnson Controls International from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Ten research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $109.00.

Johnson Controls International Stock Performance

Shares of JCI opened at $108.26 on Wednesday. The stock has a 50-day moving average of $106.84 and a two-hundred day moving average of $98.77. Johnson Controls International plc has a one year low of $68.03 and a one year high of $112.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.96. The stock has a market cap of $70.85 billion, a P/E ratio of 32.13, a P/E/G ratio of 1.64 and a beta of 1.33.

Johnson Controls International (NYSE:JCI) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%.The company had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.99 billion. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. As a group, research analysts predict that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Monday, September 22nd will be issued a $0.40 dividend. This is a boost from Johnson Controls International’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Johnson Controls International’s payout ratio is presently 47.48%.

Johnson Controls International declared that its Board of Directors has initiated a stock buyback plan on Friday, June 13th that authorizes the company to repurchase $9.00 billion in shares. This repurchase authorization authorizes the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, VP Nathan D. Manning sold 1,422 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $105.06, for a total value of $149,395.32. Following the completion of the transaction, the vice president owned 139,459 shares of the company’s stock, valued at $14,651,562.54. The trade was a 1.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Daniel C. Mcconeghy sold 5,917 shares of the business’s stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $105.73, for a total value of $625,604.41. Following the completion of the transaction, the vice president directly owned 25,005 shares of the company’s stock, valued at approximately $2,643,778.65. This trade represents a 19.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 8,761 shares of company stock valued at $922,447. Insiders own 0.54% of the company’s stock.

Johnson Controls International Company Profile

Johnson Controls International plc, together with its subsidiaries, engages in engineering, manufacturing, commissioning, and retrofitting building products and systems in the United States, Europe, the Asia Pacific, and internationally. It operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.