ASR Vermogensbeheer N.V. Makes New $11.35 Million Investment in Johnson Controls International plc (NYSE:JCI)

Key Points

• ASR Vermogensbeheer N.V. has made a new investment of $11.35 million in Johnson Controls International plc, acquiring 141,688 shares during the first quarter.
• Johnson Controls recently initiated a $9.00 billion stock repurchase plan, which allows the company to buy back up to 13.4% of its outstanding shares, indicating its leadership believes the stock is undervalued.
• The company reported earnings per share of $1.05 for its last quarter, exceeding estimates, while also announcing a quarterly dividend of $0.37 paid to stockholders in July.

ASR Vermogensbeheer N.V. bought a new stake in Johnson Controls International plc (NYSE:JCI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 141,688 shares of the company's stock, valued at approximately $11,351,000.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC raised its position in shares of Johnson Controls International by 69.8% during the 1st quarter. Cerity Partners LLC now owns 113,059 shares of the company's stock valued at $9,057,000 after acquiring an additional 46,459 shares during the last quarter. G&S Capital LLC boosted its holdings in Johnson Controls International by 81.4% during the first quarter. G&S Capital LLC now owns 30,342 shares of the company's stock worth $2,431,000 after buying an additional 13,612 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Johnson Controls International by 27.8% during the 1st quarter. GAMMA Investing LLC now owns 14,720 shares of the company's stock worth $1,179,000 after buying an additional 3,201 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Johnson Controls International by 2,213.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 709,431 shares of the company's stock valued at $57,748,000 after acquiring an additional 678,766 shares during the period. Finally, Dynamic Advisor Solutions LLC grew its holdings in Johnson Controls International by 22.4% during the first quarter. Dynamic Advisor Solutions LLC now owns 5,987 shares of the company's stock valued at $480,000 after purchasing an additional 1,096 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Activity

In other news, 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 value of $147,447.18. Following the completion of the transaction, the vice president owned 140,881 shares of the company's stock, valued at $14,607,950.89. This trade represents a 1.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Anuruddha Rathninde sold 15,000 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the transaction, 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. In the last 90 days, insiders sold 119,266 shares of company stock valued at $11,156,931. 0.54% of the stock is owned by insiders.

Analyst Ratings Changes

JCI has been the topic of several analyst reports. UBS Group reiterated a "buy" rating and issued a $116.00 target price (up from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. The Goldman Sachs Group lifted their target price on Johnson Controls International from $103.00 to $116.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Jefferies Financial Group reaffirmed a "hold" rating and set a $120.00 price target on shares of Johnson Controls International in a research report on Thursday, July 24th. Oppenheimer lowered Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Finally, Wells Fargo & Company increased their target price on Johnson Controls International from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $105.17.

Johnson Controls International Stock Down 0.2%

Johnson Controls International stock opened at $104.67 on Thursday. 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 plc has a 1-year low of $65.69 and a 1-year high of $112.63. The company has a fifty day simple moving average of $105.13 and a 200 day simple moving average of $91.36. The company has a market cap of $68.88 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.30.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.06. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. The company had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.99 billion. Research analysts anticipate 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 initiated a stock repurchase plan on Friday, June 13th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.4% of its stock through open market purchases. Stock repurchase plans are typically a sign 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. Stockholders of record on Monday, June 23rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 23rd. Johnson Controls International's dividend payout ratio is presently 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.

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