APG Asset Management N.V. Sells 5,900 Shares of Johnson Controls International plc $JCI

Key Points

• APG Asset Management N.V. reduced its stake in Johnson Controls International by 1.6%, selling 5,900 shares during the first quarter, resulting in ownership of 358,800 shares valued at approximately $26.6 million.
• Johnson Controls International announced a $9 billion share buyback program, allowing the company to repurchase up to 13.4% of its stock, indicating confidence in its undervalued status.
• The company reported a quarterly earnings per share (EPS) of $1.05, exceeding estimates, with revenue of $6.05 billion for the quarter, and has set EPS guidance for FY 2025 between $3.650 and $3.680.

APG Asset Management N.V. cut its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,800 shares of the company's stock after selling 5,900 shares during the quarter. APG Asset Management N.V. owned 0.05% of Johnson Controls International worth $26,609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in JCI. Accent Capital Management LLC bought a new position in Johnson Controls International in the 1st quarter valued at approximately $26,000. Cornerstone Planning Group LLC lifted its position in Johnson Controls International by 74.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock valued at $28,000 after acquiring an additional 155 shares in the last quarter. Community Bank N.A. purchased a new stake in Johnson Controls International during the 1st quarter valued at $32,000. Rossby Financial LCC bought a new position in shares of Johnson Controls International during the 1st quarter valued at $42,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of Johnson Controls International during the 1st quarter valued at $43,000. 90.05% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Johnson Controls International news, 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 approximately $4,390,656.62. This represents a 26.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $103.69, for a total value of $147,447.18. Following the completion of the sale, the vice president owned 140,881 shares of the company's stock, valued at $14,607,950.89. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,266 shares of company stock valued at $1,986,931 in the last quarter. 0.54% of the stock is currently owned by company insiders.

Johnson Controls International Trading Up 2.3%

NYSE:JCI opened at $107.1130 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 firm has a market capitalization of $70.09 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.91 and a beta of 1.30. Johnson Controls International plc has a one year low of $67.68 and a one year high of $112.63. The business has a fifty day moving average price of $105.86 and a 200-day moving average price of $93.58.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. Sell-side analysts forecast 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 allows the company to repurchase $9.00 billion in shares. This repurchase authorization allows the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its stock is undervalued.

Johnson Controls International Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Vertical Research raised Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price target on the stock in a report on Thursday, May 8th. The Goldman Sachs Group increased their price target on Johnson Controls International from $103.00 to $116.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Zacks Research raised Johnson Controls International to a "hold" rating in a report on Monday, August 11th. Robert W. Baird increased their price target on Johnson Controls International from $90.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada increased their price target on Johnson Controls International from $112.00 to $114.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Nine investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $105.72.

About Johnson Controls International

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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