Fred Alger Management LLC Grows Stake in Johnson Controls International plc $JCI

Fred Alger Management LLC grew its holdings in shares of Johnson Controls International plc (NYSE:JCI) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,509 shares of the company’s stock after purchasing an additional 1,977 shares during the period. Fred Alger Management LLC’s holdings in Johnson Controls International were worth $4,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in JCI. Ashton Thomas Private Wealth LLC raised its stake in Johnson Controls International by 7.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 7,833 shares of the company’s stock valued at $630,000 after buying an additional 545 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Johnson Controls International by 6.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,178,516 shares of the company’s stock valued at $254,631,000 after acquiring an additional 198,817 shares in the last quarter. Stance Capital LLC increased its holdings in shares of Johnson Controls International by 80,230.8% during the first quarter. Stance Capital LLC now owns 10,443 shares of the company’s stock valued at $837,000 after acquiring an additional 10,430 shares in the last quarter. PharVision Advisers LLC raised its position in shares of Johnson Controls International by 104.0% in the 1st quarter. PharVision Advisers LLC now owns 7,214 shares of the company’s stock valued at $578,000 after purchasing an additional 3,678 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV boosted its stake in Johnson Controls International by 0.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 81,748 shares of the company’s stock worth $6,549,000 after purchasing an additional 318 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Johnson Controls International

In other news, VP Daniel C. Mcconeghy sold 5,917 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $105.73, for a total value of $625,604.41. Following the completion of the sale, the vice president directly owned 25,005 shares in the company, valued at $2,643,778.65. This represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Nathan D. Manning sold 1,422 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $105.06, for a total value of $149,395.32. Following the completion of the sale, the vice president directly owned 139,459 shares of the company’s stock, valued at approximately $14,651,562.54. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,183 shares of company stock valued at $1,071,501. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

JCI has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price target on shares of Johnson Controls International from $112.00 to $114.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Oppenheimer downgraded Johnson Controls International from an “outperform” rating to a “market perform” rating in a research report on Friday, June 20th. Robert W. Baird lifted their price target on Johnson Controls International from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, July 17th. Barclays boosted their price target on Johnson Controls International from $100.00 to $101.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Finally, 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 note on Wednesday, July 30th. Nine investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $105.72.

Johnson Controls International Stock Down 0.9%

NYSE JCI opened at $106.25 on Wednesday. The business has a fifty day moving average price of $106.60 and a 200 day moving average price of $95.10. 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 company has a market cap of $69.53 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.91 and a beta of 1.31. Johnson Controls International plc has a one year low of $68.03 and a one year high of $112.63.

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

Johnson Controls International announced 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 repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

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.