Balboa Wealth Partners Purchases New Position in Johnson Controls International plc (NYSE:JCI)

Balboa Wealth Partners purchased a new position in Johnson Controls International plc (NYSE:JCI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,792 shares of the company's stock, valued at approximately $224,000.

A number of other large investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Johnson Controls International during the fourth quarter valued at $568,309,000. Norges Bank bought a new stake in Johnson Controls International during the fourth quarter valued at $560,549,000. Invesco Ltd. boosted its stake in Johnson Controls International by 13.2% during the fourth quarter. Invesco Ltd. now owns 18,407,597 shares of the company's stock valued at $1,452,912,000 after buying an additional 2,150,573 shares during the period. Amundi boosted its stake in Johnson Controls International by 76.7% during the fourth quarter. Amundi now owns 3,870,478 shares of the company's stock valued at $309,422,000 after buying an additional 1,680,431 shares during the period. Finally, Franklin Resources Inc. boosted its stake in Johnson Controls International by 6.0% during the fourth quarter. Franklin Resources Inc. now owns 23,344,374 shares of the company's stock valued at $1,842,571,000 after buying an additional 1,325,500 shares during the period. 90.05% of the stock is owned by institutional investors.

Insider Activity

In related news, 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 now owns 42,574 shares in the company, valued at $4,390,656.62. The trade was a 26.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George Oliver sold 100,000 shares of the business's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $91.70, for a total value of $9,170,000.00. Following the transaction, the director now owns 904,305 shares in the company, valued at approximately $82,924,768.50. This represents a 9.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,555 shares of company stock valued at $13,669,414. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on JCI. Morgan Stanley lifted their price objective on Johnson Controls International from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. UBS Group reaffirmed a "buy" rating and set a $116.00 price target (up previously from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Barclays lifted their price target on Johnson Controls International from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Vertical Research raised Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price target for the company in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on Johnson Controls International from $81.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Johnson Controls International has a consensus rating of "Moderate Buy" and a consensus target price of $97.88.

Johnson Controls International Trading Up 0.6%

Shares of NYSE JCI traded up $0.65 during midday trading on Friday, reaching $105.09. The company had a trading volume of 4,955,223 shares, compared to its average volume of 4,309,873. Johnson Controls International plc has a one year low of $64.31 and a one year high of $105.89. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm's fifty day moving average price is $96.04 and its 200-day moving average price is $86.27. The stock has a market cap of $69.15 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 2.30 and a beta of 1.33.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. Johnson Controls International had a return on equity of 15.13% and a net margin of 10.19%. The company had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the company posted $0.78 EPS. Johnson Controls International's revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts anticipate that Johnson Controls International plc will post 3.64 earnings per share for the current year.

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

Johnson Controls International Announces Dividend

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

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.