Johnson Controls International plc (NYSE:JCI) Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB has reduced its position in Johnson Controls International plc by 33.7%, now owning 694,596 shares after selling 353,781 shares.
• The company's recent quarterly earnings showed an EPS of $1.05, surpassing analysts' expectations, with a revenue of $6.05 billion.
• Johnson Controls International has announced a $9.00 billion share repurchase program, indicating confidence in its stock value among company leadership.

AMF Tjanstepension AB cut its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 33.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 694,596 shares of the company's stock after selling 353,781 shares during the quarter. AMF Tjanstepension AB owned about 0.11% of Johnson Controls International worth $55,721,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Accent Capital Management LLC acquired a new position in Johnson Controls International in the first quarter valued at $26,000. Cornerstone Planning Group LLC increased 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 worth $28,000 after acquiring an additional 155 shares during the period. Community Bank N.A. acquired a new position in shares of Johnson Controls International during the first quarter worth about $32,000. Rossby Financial LCC acquired a new position in shares of Johnson Controls International during the first quarter worth about $42,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in shares of Johnson Controls International during the first quarter worth about $43,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Johnson Controls International

In other news, VP Nathan D. Manning sold 1,422 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 140,881 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Anuruddha Rathninde sold 15,000 shares of the 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 completion of the sale, the vice president owned 42,574 shares in the company, valued at $4,390,656.62. This represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,266 shares of company stock worth $1,986,931 over the last quarter. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Johnson Controls International from a "hold" rating to a "buy" rating and boosted their price target for the stock from $101.00 to $112.00 in a research note on Monday, May 12th. Citigroup boosted their price target on shares of Johnson Controls International from $110.00 to $112.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Robert W. Baird boosted 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 note on Thursday, July 17th. Morgan Stanley boosted 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 note on Friday, May 9th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $120.00 price target on shares of Johnson Controls International in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $105.17.

Johnson Controls International Price Performance

Shares of JCI stock traded up $1.09 during trading hours on Friday, hitting $105.40. The company's stock had a trading volume of 6,227,770 shares, compared to its average volume of 4,666,734. The business has a fifty day moving average of $105.26 and a 200-day moving average of $91.74. The stock has a market cap of $68.97 billion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 1.89 and a beta of 1.30. Johnson Controls International plc has a twelve month low of $66.40 and a twelve month high of $112.63. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.99 billion. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. As a group, equities research analysts anticipate that Johnson Controls International plc will post 3.64 EPS for the current year.

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

Johnson Controls International Dividend Announcement

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

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.