Apollon Wealth Management LLC Buys 5,180 Shares of Johnson Controls International plc (NYSE:JCI)

Apollon Wealth Management LLC grew its stake in Johnson Controls International plc (NYSE:JCI) by 26.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,473 shares of the company’s stock after acquiring an additional 5,180 shares during the period. Apollon Wealth Management LLC’s holdings in Johnson Controls International were worth $1,961,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its stake in shares of Johnson Controls International by 74.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 363 shares of the company’s stock worth $28,000 after buying an additional 155 shares during the last quarter. Community Bank N.A. acquired a new position in shares of Johnson Controls International in the first quarter valued at about $32,000. Crowley Wealth Management Inc. bought a new position in Johnson Controls International during the fourth quarter worth about $42,000. Rossby Financial LCC bought a new stake in shares of Johnson Controls International in the first quarter valued at approximately $42,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in Johnson Controls International during the 1st quarter worth $43,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Johnson Controls International

In other Johnson Controls International news, Director George Oliver sold 100,000 shares of the business’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $91.70, for a total transaction of $9,170,000.00. Following the completion of the sale, the director owned 904,305 shares in the company, valued at approximately $82,924,768.50. The trade was a 9.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Anuruddha Rathninde sold 15,000 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the transaction, the vice president owned 42,574 shares in the company, valued at approximately $4,390,656.62. The trade was a 26.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,555 shares of company stock valued at $13,705,106 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

JCI has been the topic of a number of recent analyst reports. Royal Bank Of Canada raised their price target on Johnson Controls International from $82.00 to $98.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 8th. UBS Group reissued a “buy” rating and issued a $116.00 target price (up previously from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. Oppenheimer lowered shares of Johnson Controls International from an “outperform” rating to a “market perform” rating in a report on Friday, June 20th. Morgan Stanley upped their price objective on shares of Johnson Controls International from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating and raised their target price for the company from $101.00 to $112.00 in a research report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Johnson Controls International Stock Down 0.2%

Shares of NYSE JCI opened at $106.02 on Wednesday. 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 firm has a market cap of $69.77 billion, a PE ratio of 28.27, a P/E/G ratio of 1.93 and a beta of 1.31. The company’s fifty day simple moving average is $101.61 and its 200 day simple moving average is $88.34. Johnson Controls International plc has a 12-month low of $64.31 and a 12-month high of $107.79.

Johnson Controls International (NYSE:JCI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. Johnson Controls International had a net margin of 10.19% and a return on equity of 15.13%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International declared that its Board of Directors has authorized a stock buyback plan on Friday, June 13th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 23rd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Monday, June 23rd. Johnson Controls International’s payout ratio is 39.47%.

About Johnson Controls International

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.