AlphaCore Capital LLC Purchases New Stake in Johnson Controls International plc (NYSE:JCI)

Key Points

• AlphaCore Capital LLC purchased a new stake in Johnson Controls International plc during the first quarter, acquiring 4,209 shares valued at approximately $339,000.
• Johnson Controls announced a significant $9.00 billion share repurchase plan, signaling confidence from management that the stock may be undervalued.
• The company reported better-than-expected earnings of $1.05 per share for the last quarter, surpassing analyst consensus estimates and generating revenue of $6.05 billion.

AlphaCore Capital LLC purchased a new stake in Johnson Controls International plc (NYSE:JCI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,209 shares of the company's stock, valued at approximately $339,000.

Several other hedge funds have also recently bought and sold shares of JCI. Accent Capital Management LLC purchased a new position in Johnson Controls International in the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC raised its stake in shares of Johnson Controls International by 74.5% during the first 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 period. Community Bank N.A. purchased a new stake in shares of Johnson Controls International during the first quarter valued at approximately $32,000. Rossby Financial LCC purchased a new stake in shares of Johnson Controls International during 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. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Transactions at Johnson Controls International

In related news, VP Anuruddha Rathninde sold 15,000 shares of Johnson Controls International stock in a transaction dated 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 directly owned 42,574 shares in the company, valued at $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $103.69, for a total transaction of $147,447.18. Following the sale, the vice president owned 140,881 shares in the company, valued at approximately $14,607,950.89. This represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,266 shares of company stock worth $1,986,931. Company insiders own 0.54% of the company's stock.

Johnson Controls International Stock Performance

Johnson Controls International stock opened at $105.40 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.81. The company has a market cap of $68.97 billion, a PE ratio of 31.28, a P/E/G ratio of 1.89 and a beta of 1.30. Johnson Controls International plc has a 12 month low of $66.40 and a 12 month high of $112.63. The company has a fifty day moving average price of $105.26 and a two-hundred day moving average price of $91.74.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating 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 return on equity of 14.71% and a net margin of 9.53%. Research analysts expect that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International announced that its Board of Directors has authorized a share repurchase plan on Friday, June 13th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Johnson Controls International Dividend Announcement

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

Analysts Set New Price Targets

JCI has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Johnson Controls International from $110.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. 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 report on Wednesday, July 30th. Robert W. Baird raised their price target on shares of Johnson Controls International from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Barclays raised their price target on shares of Johnson Controls International from $100.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Morgan Stanley raised their price target on shares of Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $105.17.

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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