Johnson Controls International plc (NYSE:JCI) Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC cut its holdings in shares of Johnson Controls International plc (NYSE:JCI) by 16.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,846 shares of the company’s stock after selling 562 shares during the period. 1858 Wealth Management LLC’s holdings in Johnson Controls International were worth $228,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Johnson Controls International during the 4th quarter valued at $29,000. Community Bank N.A. purchased a new stake in shares of Johnson Controls International during the 1st quarter valued at $32,000. Crowley Wealth Management Inc. purchased a new stake in shares of Johnson Controls International during the 4th quarter valued at $42,000. Gables Capital Management Inc. raised its stake in Johnson Controls International by 132.0% in the 4th quarter. Gables Capital Management Inc. now owns 580 shares of the company’s stock worth $46,000 after acquiring an additional 330 shares during the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in Johnson Controls International in the 4th quarter worth $48,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Johnson Controls International Price Performance

NYSE:JCI opened at $102.10 on Friday. Johnson Controls International plc has a 52 week low of $64.31 and a 52 week high of $105.19. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $67.18 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.33. The stock’s 50-day moving average price is $93.39 and its 200-day moving average price is $85.56.

Johnson Controls International (NYSE:JCI) last posted its earnings results on Wednesday, May 7th. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Johnson Controls International had a return on equity of 15.13% and a net margin of 10.19%. The firm had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts expect that Johnson Controls International plc will post 3.64 EPS for the current fiscal year.

Johnson Controls International declared that its board has authorized a share buyback program on Friday, June 13th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Johnson Controls International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 23rd will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend is Monday, June 23rd. Johnson Controls International’s payout ratio is 39.47%.

Insider Buying and Selling

In related news, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $79.72, for a total value of $113,361.84. Following the sale, the vice president now directly owns 145,502 shares in the company, valued at approximately $11,599,419.44. The trade was a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director George Oliver sold 100,000 shares of Johnson Controls International stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $91.70, for a total value of $9,170,000.00. Following the completion of the sale, the director now owns 904,305 shares in the company, valued at approximately $82,924,768.50. The trade was a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 147,555 shares of company stock worth $13,669,414. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

JCI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Johnson Controls International from $81.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Barclays raised their target price on Johnson Controls International from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. Wells Fargo & Company raised their target price on Johnson Controls International from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Robert W. Baird raised their target price on Johnson Controls International from $84.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, UBS Group reaffirmed a “buy” rating and set a $116.00 price target (up from $103.00) on shares of Johnson Controls International in a research report on Thursday, May 22nd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Johnson Controls International presently has an average rating of “Moderate Buy” and an average target price of $97.88.

Johnson Controls International 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.