Power Corp of Canada, a prominent institutional investor, has significantly increased its position in Johnson Controls International plc during the first quarter, according to the latest filing with the Securities and Exchange Commission. The company purchased an additional 35,214 shares of Johnson Controls International, resulting in a 121.6% increase in their holdings. As of the end of the most recent quarter, Power Corp of Canada owned 64,174 shares of the company’s stock, valued at $3,737,000.
Johnson Controls International recently released its earnings results for the second quarter on August 2nd. The company reported earnings per share (EPS) of $1.03 for the quarter, meeting analysts’ consensus estimates. Despite falling slightly short on revenue expectations with $7.13 billion compared to the consensus estimate of $7.20 billion, Johnson Controls International still performed well financially. It achieved a net margin of 7.74% and a return on equity of 13.69%. Additionally, the company demonstrated growth as its quarterly revenue increased by 7.8% compared to the same period last year.
Analysts have positive outlooks for Johnson Controls International and anticipate that it will post an EPS of $3.55 for the current year. This confidence is likely due to several factors including the company’s solid financial performance and consistent growth.
Investors should take note of Power Corp of Canada’s significant increase in their holdings within Johnson Controls International as it indicates their confidence in the company’s potential for future success. With strong earnings results and positive forecasts from analysts, this investment move may prove beneficial for both parties involved.
In conclusion, Power Corp of Canada’s recent bolstering of their position in Johnson Controls International highlights their belief in the company’s prospects moving forward. Investors should closely monitor these developments as they could indicate future opportunities within this stock.
Please note that this article references information as per September 13th, 2023, and all data mentioned is accurate as of that date.
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Johnson Controls International Sees Major Shift in Shareholder Composition and Market Intrigue
September 13, 2023 – Johnson Controls International (JCI) has seen recent changes in its shareholder composition as a number of hedge funds and other investors have made significant investments in the company. This influx of new stakeholders has added intrigue to the company’s financial landscape.
One notable new investor is Certified Advisory Corp, which acquired a stake in JCI during the first quarter of this year. The investment, valued at approximately $26,000, demonstrates the confidence that Certified Advisory Corp has in Johnson Controls International’s future prospects.
Elequin Securities LLC also made a similar move, purchasing a stake in JCI worth around $33,000 in the fourth quarter of last year. These strategic investments by both Certified Advisory Corp and Elequin Securities LLC indicate their belief in the long-term viability of Johnson Controls International.
Strengthening Families & Communities LLC increased its position in JCI by 47.2% during the first quarter. This growth signifies Strengthening Families & Communities LLC’s confidence in Johnson Control International’s ability to deliver value to its shareholders.
Salem Investment Counselors Inc., another institutional investor, saw an impressive increase of 152.4% in its holdings of JCI stock during the first quarter. This surge reflects Salem Investment Counselors’ belief that Johnson Controls International presents attractive investment opportunities.
VitalStone Financial LLC took an even more drastic approach by increasing its stake in JCI stock by a staggering 2,873.3% during the first quarter. VitalStone Financial now holds 446 shares of JCI stock valued at $39,000—a significant undertaking that underscores their conviction in Johnson Controls International’s growth potential.
These additions to JCI’s shareholder base mean that approximately 88.64% of the company’s stock is currently owned by hedge funds and other institutional investors. Such high ownership concentration brings forth questions about how this majority stake may influence future decision-making within Johnson Controls International.
As of Wednesday, September 13, 2023, JCI stock opened at $57.32. The company boasts a debt-to-equity ratio of 0.49, a current ratio of 1.08, and a quick ratio of 0.80—metrics that reflect Johnson Controls International’s financial stability and ability to meet short-term obligations.
Johnson Controls International has a market capitalization of $39.00 billion and operates with a price-to-earnings (P/E) ratio of 19.17—a figure that indicates investors’ willingness to pay for each dollar of the company’s earnings.
The company’s one-year low stands at $48.82, while its one-year high reached $70.43—a wide range that showcases the stock’s potential volatility over the past year.
In recent news, CEO George Oliver sold 103,332 shares of JCI stock on Wednesday, August 23rd at an average price of $59.23 per share. After this transaction, Oliver now directly owns 979,759 shares in the company—an ownership stake valued at around $58 million.
It is worth noting that insiders collectively hold only about 0.71% of Johnson Control International’s stock—a relatively small percentage compared to the large presence of institutional investors in the company.
Analyst reports have provided further insight into Johnson Controls International’s position in the market. For instance, Barclays reduced its price target for JCI from $69 to $66 while Royal Bank of Canada decreased their target from $68 to $67—to name just a few examples.
Despite these adjustments, it is important to note that four research analysts have assigned a hold rating to JCI stock while eight have given it a buy rating—illustrating varying opinions on its investment prospects.
Based on data from Bloomberg, Johnson Controls International currently holds an average consensus rating of “Moderate Buy,” with an average price target for its stock of $71.08.
Overall, Johnson Controls International’s recent influx of new institutional investors, along with CEO George Oliver’s share sale and diverging analyst reports, create a perplexing and bustling atmosphere surrounding the company’s stock. As the date reference suggests, these circumstances have occurred as of September 13, 2023—a day that will forever be marked by this intriguing turn of events.
