9,000 Shares in Johnson Controls International plc (NYSE:JCI) Purchased by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management LLC acquired a new stake in Johnson Controls International plc by purchasing 9,000 shares valued at approximately $721,000 during the first quarter.
• Several analysts have recently upgraded their price targets for Johnson Controls, with UBS Group raising it from $103.00 to $116.00 and a consensus target price currently at $105.17.
• The company announced a quarterly dividend of $0.37 per share, with an annualized yield of 1.4%, while also authorizing a significant $9.00 billion share repurchase plan.

Wolverine Asset Management LLC bought a new stake in Johnson Controls International plc (NYSE:JCI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,000 shares of the company's stock, valued at approximately $721,000.

Other hedge funds have also recently bought and sold shares of the company. Accent Capital Management LLC bought a new stake in Johnson Controls International in the 1st quarter worth about $26,000. Cornerstone Planning Group LLC boosted its stake in shares of Johnson Controls International by 74.5% in 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. purchased a new position in shares of Johnson Controls International in the 1st quarter worth approximately $32,000. Rossby Financial LCC bought a new position in shares of Johnson Controls International in the first quarter valued at approximately $42,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Johnson Controls International during the first quarter valued at approximately $43,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on JCI. Robert W. Baird upped their price objective on Johnson Controls International from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Jefferies Financial Group restated a "hold" rating and set a $120.00 price target on shares of Johnson Controls International in a research report on Thursday, July 24th. Citigroup raised their price objective on shares of Johnson Controls International from $110.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and issued a $116.00 target price (up from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Finally, Royal Bank Of Canada raised their price target on shares of Johnson Controls International from $112.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Johnson Controls International currently has a consensus rating of "Hold" and a consensus target price of $105.17.

Johnson Controls International Stock Performance

Shares of JCI opened at $105.40 on Friday. Johnson Controls International plc has a 52-week low of $66.40 and a 52-week high of $112.63. The stock's 50-day simple moving average is $105.26 and its 200 day simple moving average is $91.74. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.96. The stock has a market capitalization of $68.97 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. The firm had revenue of $6.05 billion for the quarter, compared to analysts' expectations of $5.99 billion. Research analysts forecast that Johnson Controls International plc will post 3.64 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, June 23rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 23rd. Johnson Controls International's dividend payout ratio (DPR) is presently 43.92%.

Johnson Controls International announced that its Board of Directors has authorized a share repurchase plan on Friday, June 13th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, VP Nathan D. Manning sold 1,422 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $103.69, for a total value of $147,447.18. Following the transaction, the vice president owned 140,881 shares of the company's stock, valued at approximately $14,607,950.89. This represents a 1.00% decrease in their ownership of the stock. The transaction 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 stock in a transaction on Friday, June 6th. The stock was sold at an average price of $103.13, for a total value of $1,546,950.00. Following the completion of the sale, the vice president owned 42,574 shares in the company, valued at $4,390,656.62. This trade represents a 26.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,266 shares of company stock valued at $1,986,931 over the last 90 days. 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.

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