Principal Financial Group Inc. Reduces Position in Johnson Controls International plc (NYSE:JCI)

Principal Financial Group Inc. lowered its position in shares of Johnson Controls International plc (NYSE:JCI) by 9.6% in the third quarter, HoldingsChannel.com reports. The firm owned 752,515 shares of the company’s stock after selling 79,938 shares during the quarter. Principal Financial Group Inc.’s holdings in Johnson Controls International were worth $58,403,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Fortitude Family Office LLC lifted its holdings in Johnson Controls International by 195.8% during the 3rd quarter. Fortitude Family Office LLC now owns 420 shares of the company’s stock worth $33,000 after buying an additional 278 shares during the last quarter. Wolff Wiese Magana LLC lifted its stake in Johnson Controls International by 977.3% during the third quarter. Wolff Wiese Magana LLC now owns 474 shares of the company’s stock worth $37,000 after purchasing an additional 430 shares during the last quarter. Western Pacific Wealth Management LP acquired a new position in Johnson Controls International in the third quarter valued at approximately $44,000. Larson Financial Group LLC increased its stake in Johnson Controls International by 169.3% in the third quarter. Larson Financial Group LLC now owns 738 shares of the company’s stock valued at $57,000 after purchasing an additional 464 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Johnson Controls International during the third quarter worth approximately $61,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on JCI. Bank of America lifted their price target on shares of Johnson Controls International from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. StockNews.com cut Johnson Controls International from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Mizuho upped their target price on Johnson Controls International from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Argus raised Johnson Controls International from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Friday. Finally, Robert W. Baird increased their price objective on Johnson Controls International from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.93.

Johnson Controls International Price Performance

Johnson Controls International stock opened at $80.64 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 0.94. Johnson Controls International plc has a one year low of $51.71 and a one year high of $87.16. The company has a market cap of $53.40 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31. The business has a fifty day moving average of $81.00 and a two-hundred day moving average of $74.21.

Johnson Controls International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Monday, December 23rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Monday, December 23rd. Johnson Controls International’s payout ratio is currently 58.27%.

Insider Activity

In related news, COO Nathan D. Manning sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $77.08, for a total value of $231,240.00. Following the sale, the chief operating officer now directly owns 140,488 shares of the company’s stock, valued at approximately $10,828,815.04. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Oliver sold 110,616 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $84.60, for a total transaction of $9,358,113.60. Following the transaction, the chief executive officer now directly owns 1,244,617 shares of the company’s stock, valued at $105,294,598.20. This trade represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 761,588 shares of company stock worth $62,711,800 over the last three months. 0.69% of the stock is currently owned by corporate insiders.

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.