Bank of New York Mellon Corp Sells 1,402,652 Shares of Johnson Controls International plc (NYSE:JCI)

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

Several other hedge funds have also made changes to their positions in JCI. SBI Securities Co. Ltd. acquired a new stake in Johnson Controls International during the 4th quarter valued at $29,000. Community Bank N.A. acquired a new stake in shares of Johnson Controls International in the first quarter worth $32,000. Crowley Wealth Management Inc. purchased a new position in shares of Johnson Controls International during the fourth quarter valued at $42,000. Rossby Financial LCC acquired a new position in Johnson Controls International during the first quarter valued at $42,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new position in Johnson Controls International during the first quarter valued at $43,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Buying and Selling

In other Johnson Controls International news, CFO Marc Vandiepenbeeck sold 28,289 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $90.92, for a total transaction of $2,572,035.88. Following the completion of the transaction, the chief financial officer owned 147,673 shares of the company's stock, valued at $13,426,429.16. The trade was a 16.08% decrease in their position. The transaction 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 business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $91.70, for a total transaction of $9,170,000.00. Following the transaction, the director directly owned 904,305 shares of the company's stock, 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 three months, insiders have sold 147,555 shares of company stock worth $13,705,106. 0.54% of the stock is currently owned by company insiders.

Johnson Controls International Stock Up 1.4%

Shares of JCI stock traded up $1.48 on Friday, hitting $106.55. The company's stock had a trading volume of 2,981,953 shares, compared to its average volume of 4,325,147. The stock has a market capitalization of $70.11 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 1.96 and a beta of 1.31. Johnson Controls International plc has a fifty-two week low of $64.31 and a fifty-two week high of $106.96. The firm's fifty day moving average price is $98.79 and its 200-day moving average price is $87.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.81.

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

Johnson Controls International declared that its board has approved a share repurchase program on Friday, June 13th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Johnson Controls International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $1.48 annualized dividend and a yield of 1.39%. Johnson Controls International's dividend payout ratio (DPR) is presently 39.47%.

Analysts Set New Price Targets

A number of brokerages have commented on JCI. JPMorgan Chase & Co. raised their price objective 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. Citigroup reduced their price target on shares of Johnson Controls International from $95.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Vertical Research upgraded shares of Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price target for the company in a report on Thursday, May 8th. Robert W. Baird boosted their price objective on shares of Johnson Controls International from $84.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, UBS Group reiterated a "buy" rating and issued a $116.00 target price (up previously from $103.00) on shares of Johnson Controls International in a research report on Thursday, May 22nd. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Johnson Controls International has a consensus rating of "Moderate Buy" and a consensus price target of $97.88.

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.