Dodge & Cox recently announced the acquisition of new stake in Johnson Controls International plc (NYSE:JCI). The institutional investor has increased its shareholding in the Industrials company by 3.74% to 63.7 million shares with purchase of 2.3 million shares. This fresh investment now brings its stake to 9.36% valued currently at $3.36 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.31 million to 30.39 million shares. And Fisher Asset Management LLC has lifted its position by 7.47% or 0.9 million shares – to 12.91 million shares.
With over 6.74 million Johnson Controls International plc (JCI) shares trading Tuesday and a closing price of $57.08 on the day, the dollar volume was approximately $384.63 million. The shares have shown a negative half year performance of -15.65% and its price on 01/02/24 lost nearly -0.97%. Currently, there are 680.37M common shares owned by the public and among those 675.55M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for JCI have a consensus price objective of $65.15. The analysts have set the share’s price value over the next 12 months at a high of $80.00 and a low of $54.00. The average price target is 12.39% above its recent price level and a downside to the estimated low will see the stock lose -5.7% over that period. But an upside of 28.65% will see the stock hit the forecast high price target while median target price for the stock is $65.00.
Insiders at the company have transacted a total of 38 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 413,221 shares. Insider sales of the common stock occurred on 22 occasions, with total insider shares sold totaling 444,145 shares.
The top 3 mutual fund holders in Johnson Controls International plc are Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Dodge & Cox Stock Fund owns 31.56 million shares of the company’s stock, all valued at over $1.67 billion. The company bought an additional 0.17 million shares recently to bring their total holdings to about 4.64% of the shares outstanding. Vanguard Total Stock Market ETF bought 24978.0 shares to see its total holdings expand to 21.32 million shares valued at over $1.13 billion and representing 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 82719.0 shares to bring its total holdings to over 16.43 million shares at a value of $867.63 million. Vanguard 500 Index Fund now owns shares totaling to 2.42% of the shares outstanding.
Shares of Johnson Controls International plc (NYSE: JCI) opened at $57.38, down -$0.26 from a prior closing price of $57.64. However, the script later moved the day high at 58.03, down -0.97%. The company’s stock has a 5-day price change of 0.60% and 8.97% over the past three months. JCI shares are trading -0.97% year to date (YTD), with the 12-month market performance down to -11.45% lower. It has a 12-month low price of $47.90 and touched a high of $70.43 over the same period. JCI has an average intraday trading volume of 5.45 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.36%, 8.59%, and -2.55% respectively.
Institutional ownership of Johnson Controls International plc (NYSE: JCI) shares accounts for 90.32% of the company’s 680.37M shares outstanding. Mutual fund holders own 35.57%, while other institutional holders and individual stakeholders account for 55.94% and 0.79% respectively.
It has a market capitalization of $38.85B and a beta (3y monthly) value of 1.25. The stock’s trailing 12-month PE ratio is 21.17, while the earnings-per-share (ttm) stands at $2.70. The company has a PEG of 1.73 and a Quick Ratio of 0.70 with the debt-to-equity ratio at 0.62. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.31% over the week and 2.22% over the month.
Analysts forecast that Johnson Controls International plc (JCI) will achieve an EPS of $0.51 for the current quarter, $0.78 for the next quarter and $4.18 for 2025. The lowest estimate earnings-per-share for the quarter is $0.49 while analysts give the company a high EPS estimate of $0.56. Comparatively, EPS for the current quarter was $0.67 a year ago. Earnings per share for the fiscal year are expected to increase by 6.59%, and 12.71% over the next financial year. EPS should grow at an annualized rate of 12.25% over the next five years, compared to 3.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate Johnson Controls International plc (JCI) as a “Strong Buy” at a consensus score of 1.64. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 6 of the 22 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the JCI, a number of firms have released research notes about the stock. Vertical Research stated their Hold rating for the stock in a research note on December 13, 2023, with the firm’s price target at $55.
