Johnson Controls International plc (NYSE:JCI) Holdings Reduced by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC cut its stake in Johnson Controls International plc (NYSE:JCI) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,948 shares of the company’s stock after selling 851 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Johnson Controls International were worth $24,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. HighPoint Advisor Group LLC grew its holdings in shares of Johnson Controls International by 1.4% in the 1st quarter. HighPoint Advisor Group LLC now owns 8,976 shares of the company’s stock worth $739,000 after acquiring an additional 124 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in Johnson Controls International in the 1st quarter worth approximately $245,000. Edgemoor Investment Advisors Inc. boosted its stake in Johnson Controls International by 0.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 198,587 shares of the company’s stock worth $15,909,000 after purchasing an additional 910 shares during the period. Peregrine Asset Advisers Inc. boosted its stake in Johnson Controls International by 3.3% in the 1st quarter. Peregrine Asset Advisers Inc. now owns 15,713 shares of the company’s stock worth $1,259,000 after purchasing an additional 500 shares during the period. Finally, Peterson Wealth Services boosted its stake in Johnson Controls International by 3.9% in the 1st quarter. Peterson Wealth Services now owns 20,204 shares of the company’s stock worth $1,619,000 after purchasing an additional 755 shares during the period. 90.05% of the stock is currently owned by institutional investors.

Johnson Controls International Price Performance

NYSE JCI traded down $0.22 during trading on Monday, reaching $108.74. 122,777 shares of the company traded hands, compared to its average volume of 4,329,186. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.81 and a current ratio of 0.96. The stock’s 50 day moving average price is $102.65 and its two-hundred day moving average price is $89.02. The company has a market cap of $71.56 billion, a price-to-earnings ratio of 29.03, a P/E/G ratio of 2.00 and a beta of 1.31. Johnson Controls International plc has a 1-year low of $64.31 and a 1-year high of $109.40.

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

Johnson Controls International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, June 23rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Monday, June 23rd. Johnson Controls International’s dividend payout ratio is currently 39.47%.

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 purchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on JCI. JPMorgan Chase & Co. raised their price target on shares of Johnson Controls International from $81.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Vertical Research upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Thursday, May 8th. Barclays lifted their price objective on Johnson Controls International from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lifted their price objective on Johnson Controls International from $82.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded Johnson Controls International from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $101.00 to $112.00 in a research note on Monday, May 12th. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Johnson Controls International presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.18.

Insider Activity at Johnson Controls International

In related news, VP Nathan D. Manning sold 1,422 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $104.82, for a total value of $149,054.04. Following the completion of the transaction, the vice president owned 141,860 shares in the company, valued at $14,869,765.20. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marc Vandiepenbeeck sold 28,289 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $90.92, for a total transaction of $2,572,035.88. Following the completion of the transaction, the chief financial officer owned 147,673 shares in the company, valued at $13,426,429.16. This represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,555 shares of company stock worth $13,705,106. Company insiders own 0.54% of the company’s stock.

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.