Balboa Wealth Partners Invests $224,000 in Johnson Controls International plc (NYSE:JCI)

Balboa Wealth Partners 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 disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,792 shares of the company's stock, valued at approximately $224,000.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Johnson Controls International in the 4th quarter valued at about $568,309,000. Norges Bank acquired a new position in shares of Johnson Controls International in the fourth quarter valued at approximately $560,549,000. Invesco Ltd. lifted its stake in shares of 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 lifted its stake in shares of 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. lifted its stake in shares of 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $86.91, for a total transaction of $123,586.02. Following the sale, the vice president now owns 144,704 shares in the company, valued at $12,576,224.64. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Anuruddha Rathninde sold 15,000 shares of the business's stock in a transaction on 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 directly owns 42,574 shares in the company, valued at approximately $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 147,555 shares of company stock valued at $13,669,414. Company insiders own 0.54% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Vertical Research raised shares of Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 target price for the company in a research note on Thursday, May 8th. Wells Fargo & Company raised their price objective on Johnson Controls International from $100.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Royal Bank Of Canada lifted their price objective on Johnson Controls International from $82.00 to $98.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on Johnson Controls International from $81.00 to $98.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Oppenheimer lowered Johnson Controls International from an "outperform" rating to a "market perform" rating in a research note on Friday, June 20th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $97.88.

Johnson Controls International Trading Up 0.9%

Shares of NYSE JCI traded up $0.96 during midday trading on Friday, hitting $105.40. The stock had a trading volume of 1,826,963 shares, compared to its average volume of 4,306,393. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. Johnson Controls International plc has a 1-year low of $64.31 and a 1-year high of $105.88. The company has a market capitalization of $69.36 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.26 and a beta of 1.33. The company has a fifty day moving average price of $95.48 and a 200 day moving average price of $86.10.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly 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 net margin of 10.19% and a return on equity of 15.13%. The firm had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.64 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Johnson Controls International's revenue was up 1.4% compared to the same quarter last year. On average, analysts predict that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International announced that its board has authorized a share buyback plan on Friday, June 13th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Johnson Controls International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 23rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 23rd. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. Johnson Controls International's payout ratio is 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.