5 Stocks That Will Benefit from Record Breaking Temperatures

2. Johnson Controls International plc (NYSE:JCI)

Number of Hedge Fund Holders: 44

Johnson Controls International plc (NYSE:JCI) produces fire, HVAC, and security equipment for buildings and provides solutions and services for the HVAC industry in the United States, Europe, the Asia Pacific, and internationally. The company operates in four segments: Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products.

On July 18, Mizuho analyst Brett Linzey lowered his price target on Johnson Controls International plc (NYSE:JCI) to $65 from $68 and reiterated a Buy rating on the shares.

On June 8, Johnson Controls International plc (NYSE:JCI) declared a quarterly cash dividend of $0.35 per share. The common stock cash dividend was payable on July 15 to investors of record on June 21. As of July 28, Johnson Controls International plc (NYSE:JCI) has a forward dividend yield of 2.77% and trailing twelve-month free cash flows of $1.06 billion.

At the end of Q1 2022, 44 hedge funds were eager on Johnson Controls International plc (NYSE:JCI). The total stakes of these hedge funds were valued at $1.43 billion, up from $1.22 billion in the previous quarter with 42 positions. The hedge fund sentiment for the stock is positive.

Saturna Capital, an investment management firm, mentioned Johnson Controls International plc (NYSE:JCI) in its “Amana Funds” fourth-quarter 2021 investor letter. Here is what the firm had to say:

“Given market strength, every sector provided positive returns during the quarter, led by Technology. Hardware and semiconductors were the primary contributors, although software performed better in terms of stock selection. Industrials, Consumer Staples, and Consumer Discretionary were standouts in terms of stock selection and outperformance versus the benchmark. Johnson Controls and railways led in Industrials.”