5 Best Long Term Growth Stocks To Invest In

3. Johnson Controls International plc (NYSE:JCI)

Number of Hedge Fund Holders: 33

Johnson Controls International plc (NYSE:JCI) is an industrials company engaged in engineering, manufacturing, commissioning, and retrofitting building products and systems. The company operates in the US, Europe, the Asia Pacific, and internationally. It designs, sells, installs, and services heating, ventilating, air conditioning, controlling, building management, refrigerating, and suppression systems, among much more.

Morgan Stanley’s Joshua Pokrzywinski holds an Overweight rating on shares of Johnson Controls International plc (NYSE:JCI) as of October 12. The analyst also placed a $60 price target on the stock.

This September, Morgan Stanley raised its EPS estimates on companies in the heating and cooling systems business. For Johnson Controls International plc (NYSE:JCI), the firm now expects an EPS of $3.72 in 2023 and $4.12 in 2024. In the same month, Johnson Controls International plc (NYSE:JCI) also got added to Bank of America’s Growth 10 list as one of the top growth stocks to invest in. Finally, the company also declared a quarterly dividend of $0.35 per share on September 14, making it a smart investment choice for income investors.

Johnson Controls International plc (NYSE:JCI) was found among the 13F holdings of 33 hedge funds in the second quarter and 44 hedge funds in the previous quarter. Their total stake values were $603 million and $1.4 billion, respectively.

Aristotle Capital Management, an independent/employee-owned investment management organization, mentioned Johnson Controls International plc (NYSE:JCI) in its first-quarter 2022 investor letter. Here’s what the firm said:

“As investors since the fourth quarter of 2017, we have enjoyed a front-row view of the large transformation that has taken place at Johnson Controls. Once a multi-industrial corporation, the company successfully turned itself into a pure-play buildings solutions and technology provider. Catalysts we previously identified for Johnson Controls included synergies following its merger with Tyco International, which provides fire safety and building security products, as well as benefits from its separation of non-building-focused businesses, such as automotive seating and batteries. With all catalysts in sight now nearing completion, and Johnson Controls now a better business for it – with higher recurring revenues and lower capital intensity – we decided to exit our investment to help fund the purchases of Xcel Energy and Atmos Energy.”