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

Cullen Capital Management LLC purchased a new stake in Johnson Controls International plc (NYSE:JCI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,671,438 shares of the company’s stock, valued at approximately $244,214,000. Johnson Controls International makes up about 2.4% of Cullen Capital Management LLC’s investment portfolio, making the stock its 10th largest holding.

Several other institutional investors have also recently made changes to their positions in JCI. Abacus Wealth Partners LLC acquired a new stake in Johnson Controls International in the fourth quarter valued at approximately $1,233,000. North Dakota State Investment Board acquired a new position in shares of Johnson Controls International during the fourth quarter worth approximately $2,712,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Johnson Controls International during the fourth quarter worth approximately $16,426,000. Rokos Capital Management LLP bought a new position in shares of Johnson Controls International in the 1st quarter worth $45,833,000. Finally, Catalyst Funds Management Pty Ltd lifted its holdings in shares of Johnson Controls International by 536.4% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 21,000 shares of the company’s stock worth $2,515,000 after purchasing an additional 17,700 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity

In related news, VP Lei Zhang Schlitz sold 23,417 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $153.07, for a total transaction of $3,584,440.19. Following the transaction, the vice president directly owned 15,017 shares in the company, valued at approximately $2,298,652.19. The trade was a 60.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Todd M. Grabowski sold 1,800 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $146.20, for a total transaction of $263,160.00. Following the transaction, the vice president owned 26,215 shares in the company, valued at approximately $3,832,633. This trade represents a 6.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate 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 business’s 50 day moving average is $145.16 and its 200 day moving average is $141.04. Johnson Controls International plc has a 12-month low of $103.82 and a 12-month high of $157.06. The stock has a market cap of $86.61 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.38 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.00 and a debt-to-equity ratio of 0.61.

Johnson Controls International (NYSE:JCI) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.12. Johnson Controls International had a return on equity of 22.11% and a net margin of 14.32%.The business had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.46 billion. During the same period in the prior year, the firm posted $1.05 EPS. Johnson Controls International’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Johnson Controls International plc will post 5.08 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 15th were paid a $0.40 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Johnson Controls International’s dividend payout ratio is presently 27.83%.

Analysts Set New Price Targets

JCI has been the subject of a number of recent research reports. Zacks Research lowered shares of Johnson Controls International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Morgan Stanley raised their price objective on shares of Johnson Controls International from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Tuesday, June 9th. Robert W. Baird lifted their price objective on shares of Johnson Controls International from $132.00 to $148.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Johnson Controls International in a report on Tuesday, June 9th. Finally, Argus set a $175.00 target price on shares of Johnson Controls International in a research report on Friday, August 7th. Twelve equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $155.50.

Johnson Controls International Company 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.