Johnson Controls International plc $JCI Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Johnson Controls International by 52.5%, now owning approximately 0.09% of the company valued at $48.26 million.
• Johnson Controls International's recent earnings report showed an EPS of $1.05, exceeding analyst expectations of $0.99, with a revenue of $6.05 billion.
• The company announced a $9 billion share buyback program, indicating the board's belief that the stock is undervalued.

Adage Capital Partners GP L.L.C. lowered its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 52.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 602,450 shares of the company's stock after selling 666,615 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of Johnson Controls International worth $48,262,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truvestments Capital LLC grew its holdings in Johnson Controls International by 425.0% in the 1st quarter. Truvestments Capital LLC now owns 315 shares of the company's stock worth $25,000 after acquiring an additional 255 shares during the last quarter. Accent Capital Management LLC purchased a new position in Johnson Controls International during the 1st quarter valued at about $26,000. Cornerstone Planning Group LLC raised its holdings in Johnson Controls International by 74.5% in the first 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. Activest Wealth Management raised its holdings in Johnson Controls International by 56.4% in the first quarter. Activest Wealth Management now owns 369 shares of the company's stock worth $30,000 after buying an additional 133 shares during the last quarter. Finally, Community Bank N.A. purchased a new position in Johnson Controls International in the first quarter worth about $32,000. Institutional investors own 90.05% of the company's stock.

Johnson Controls International Trading Down 1.0%

JCI stock traded down $1.03 during trading on Friday, hitting $106.06. The company had a trading volume of 4,278,864 shares, compared to its average volume of 4,970,083. The firm has a market capitalization of $69.40 billion, a P/E ratio of 31.47, a PEG ratio of 1.89 and a beta of 1.31. Johnson Controls International plc has a 52-week low of $67.68 and a 52-week high of $112.63. The company has a 50 day simple moving average of $106.53 and a 200-day simple moving average of $94.82. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.50.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.06. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.99 billion. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. As a group, research analysts forecast that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International announced that its board has authorized a stock buyback plan on Friday, June 13th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Johnson Controls International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, June 23rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. Johnson Controls International's dividend payout ratio is presently 43.92%.

Insiders Place Their Bets

In other news, VP Daniel C. Mcconeghy sold 5,917 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $105.73, for a total transaction of $625,604.41. Following the transaction, the vice president owned 25,005 shares of the company's stock, valued at approximately $2,643,778.65. The trade was a 19.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Nathan D. Manning sold 1,422 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $105.06, for a total transaction of $149,395.32. Following the completion of the transaction, the vice president directly owned 139,459 shares in the company, valued at $14,651,562.54. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,183 shares of company stock valued at $1,071,501 in the last ninety days. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group reissued a "buy" rating and set a $116.00 price objective (up from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. Oppenheimer cut shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a report on Friday, June 20th. Robert W. Baird upped their target price on shares of Johnson Controls International from $90.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Wells Fargo & Company upped their target price on shares of Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. upped their target price 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. Nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Johnson Controls International currently has an average rating of "Hold" and an average target price of $105.72.

Johnson Controls International Company 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.