Bank of New York Mellon Corp Lowers Position in Johnson Controls International plc (NYSE:JCI)

Bank of New York Mellon Corp decreased its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,507,527 shares of the company's stock after selling 1,402,652 shares during the period. Bank of New York Mellon Corp owned approximately 1.59% of Johnson Controls International worth $841,758,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new position in shares of Johnson Controls International in the fourth quarter valued at approximately $29,000. Community Bank N.A. purchased a new stake in Johnson Controls International in the 1st quarter valued at $32,000. Crowley Wealth Management Inc. bought a new position in Johnson Controls International during the 4th quarter valued at $42,000. Rossby Financial LCC bought a new stake in shares of Johnson Controls International in the 1st quarter worth $42,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Johnson Controls International from a "hold" rating to a "buy" rating and upped their target price for the company from $101.00 to $112.00 in a report on Monday, May 12th. Barclays increased their price objective on Johnson Controls International from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. UBS Group reiterated 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. JPMorgan Chase & Co. lifted their target price on shares of Johnson Controls International from $81.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Royal Bank Of Canada upped their price target on shares of Johnson Controls International from $82.00 to $98.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $97.88.

Johnson Controls International Price Performance

JCI traded down $0.72 during midday trading on Monday, hitting $105.99. The stock had a trading volume of 3,524,799 shares, compared to its average volume of 4,321,943. Johnson Controls International plc has a 1 year low of $64.31 and a 1 year high of $107.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.81 and a current ratio of 0.96. The business has a fifty day moving average of $98.79 and a 200 day moving average of $87.15. The company has a market cap of $69.75 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.31.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. The company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.64 billion. Johnson Controls International had a net margin of 10.19% and a return on equity of 15.13%. The firm's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. As a group, equities analysts forecast that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 23rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $1.48 annualized dividend and a yield of 1.40%. Johnson Controls International's dividend payout ratio (DPR) is presently 39.47%.

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

Insider Activity at Johnson Controls International

In related news, CFO Marc Vandiepenbeeck sold 28,289 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $90.92, for a total value of $2,572,035.88. Following the completion of the transaction, the chief financial officer directly owned 147,673 shares in the company, valued at $13,426,429.16. The trade was a 16.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George Oliver sold 100,000 shares of the company's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $91.70, for a total transaction of $9,170,000.00. Following the transaction, the director owned 904,305 shares in the company, valued at $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 90 days, insiders sold 147,555 shares of company stock valued at $13,705,106. 0.54% of the stock is currently owned by company insiders.

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.