Caliber Wealth Management LLC KS Buys New Stake in Johnson Controls International plc (NYSE:JCI)

Key Points

• Caliber Wealth Management LLC KS acquired 40,670 shares of Johnson Controls International valued at approximately $3.26 million, indicating a strong interest in the company's stock during the 1st quarter.
• Johnson Controls announced a $9 billion share buyback program, allowing the company to repurchase up to 13.4% of its outstanding shares, a sign of confidence from the board in the stock's valuation.
• The company reported a quarterly earnings per share (EPS) of $0.82, exceeding estimates, with revenue of $5.68 billion, demonstrating a 1.4% year-over-year growth.

Caliber Wealth Management LLC KS purchased a new position in Johnson Controls International plc (NYSE:JCI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 40,670 shares of the company's stock, valued at approximately $3,258,000.

Several other institutional investors also recently modified their holdings of the business. Cornerstone Planning Group LLC grew its position in Johnson Controls International by 74.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock valued at $28,000 after purchasing an additional 155 shares during the last quarter. Community Bank N.A. purchased a new stake in Johnson Controls International during the 1st quarter valued at about $32,000. Rossby Financial LCC purchased a new stake in Johnson Controls International during the 1st quarter valued at about $42,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Johnson Controls International during the 1st quarter valued at about $43,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of Johnson Controls International during the 4th quarter valued at about $48,000. 90.05% of the stock is currently owned by institutional investors.

Insider Activity at Johnson Controls International

In other news, CFO Marc Vandiepenbeeck sold 28,289 shares of Johnson Controls International 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 sale, the chief financial officer owned 147,673 shares in the company, valued at $13,426,429.16. This trade represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Anuruddha Rathninde sold 15,000 shares of Johnson Controls International stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the sale, 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. In the last three months, insiders have sold 147,555 shares of company stock worth $13,705,106. 0.54% of the stock is currently owned by corporate insiders.

Johnson Controls International Stock Performance

NYSE JCI traded down $6.87 on Tuesday, reaching $104.65. 4,902,861 shares of the stock were exchanged, compared to its average volume of 4,636,873. Johnson Controls International plc has a one year low of $64.31 and a one year high of $112.63. The firm has a market capitalization of $68.86 billion, a PE ratio of 27.90, a PEG ratio of 2.05 and a beta of 1.31. The company's 50-day simple moving average is $104.25 and its two-hundred day simple moving average is $90.30. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.48.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. The company had revenue of $6.05 billion for the quarter, compared to analysts' expectations of $5.99 billion. Johnson Controls International had a net margin of 10.19% and a return on equity of 15.13%. 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 repurchase plan on Friday, June 13th that allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Johnson Controls International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, June 23rd were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Monday, June 23rd. Johnson Controls International's payout ratio is currently 39.47%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group reaffirmed a "hold" rating and set a $120.00 price target on shares of Johnson Controls International in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft raised shares of Johnson Controls International from a "hold" rating to a "buy" rating and raised their price target for the company from $101.00 to $112.00 in a report on Monday, May 12th. Citigroup reaffirmed a "neutral" rating and set a $110.00 price target (up previously from $94.00) on shares of Johnson Controls International in a report on Monday, July 14th. The Goldman Sachs Group raised their price target on shares of Johnson Controls International from $103.00 to $116.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, Barclays raised their price target on shares of Johnson Controls International from $90.00 to $100.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Johnson Controls International has an average rating of "Hold" and a consensus target price of $104.11.

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.