Allspring Global Investments Holdings LLC Raises Stock Holdings in Johnson Controls International plc (NYSE:JCI)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 2,213.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 709,431 shares of the company's stock after purchasing an additional 678,766 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of Johnson Controls International worth $57,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JCI. Brighton Jones LLC purchased a new position in shares of Johnson Controls International during the fourth quarter worth about $222,000. Bank Pictet & Cie Europe AG grew its holdings in shares of Johnson Controls International by 67.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 88,569 shares of the company's stock worth $6,991,000 after purchasing an additional 35,655 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Johnson Controls International by 22.4% during the fourth quarter. IFP Advisors Inc now owns 5,540 shares of the company's stock worth $440,000 after purchasing an additional 1,014 shares in the last quarter. Flputnam Investment Management Co. grew its holdings in shares of Johnson Controls International by 11.0% during the fourth quarter. Flputnam Investment Management Co. now owns 5,545 shares of the company's stock worth $438,000 after purchasing an additional 550 shares in the last quarter. Finally, SVB Wealth LLC purchased a new position in shares of Johnson Controls International during the fourth quarter worth about $422,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Johnson Controls International Stock Performance

Shares of JCI stock opened at $105.09 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.81 and a current ratio of 0.96. Johnson Controls International plc has a fifty-two week low of $64.31 and a fifty-two week high of $105.89. The stock has a 50 day moving average price of $96.04 and a two-hundred day moving average price of $86.29. The company has a market capitalization of $69.15 billion, a P/E ratio of 28.02, a PEG ratio of 2.30 and a beta of 1.33.

Johnson Controls International (NYSE:JCI - Get Free Report) 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. The firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.64 billion. Johnson Controls International had a return on equity of 15.13% and a net margin of 10.19%. The business's revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. Analysts expect that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 23rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.41%. Johnson Controls International's dividend payout ratio is presently 39.47%.

Johnson Controls International declared that its board has initiated a share repurchase program on Friday, June 13th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to reacquire up to 13.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on JCI. Robert W. Baird upped their target price on Johnson Controls International from $84.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Citigroup cut their target price on Johnson Controls International from $95.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Morgan Stanley upped their target price on Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Vertical Research raised Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 target price for the company in a research note on Thursday, May 8th. Finally, UBS Group reaffirmed a "buy" rating and issued a $116.00 target price (up previously from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.88.

Insider Activity at Johnson Controls International

In other Johnson Controls International news, VP Nathan D. Manning sold 1,422 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $79.72, for a total value of $113,361.84. Following the completion of the transaction, the vice president now owns 145,502 shares in the company, valued at approximately $11,599,419.44. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the vice president now owns 42,574 shares of the company's stock, valued at approximately $4,390,656.62. This trade represents a 26.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,555 shares of company stock worth $13,669,414 over the last quarter. 0.54% of the stock is owned by corporate insiders.

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.

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