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 Johnson Controls International plc (NYSE:JCI - Free Report) by 11.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 approximately 1.59% of Johnson Controls International worth $841,758,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in JCI. SBI Securities Co. Ltd. acquired a new stake in Johnson Controls International in the fourth quarter valued at $29,000. Community Bank N.A. bought a new position in shares of Johnson Controls International in the first quarter valued at about $32,000. Crowley Wealth Management Inc. bought a new position in shares of Johnson Controls International in the fourth quarter valued at about $42,000. Rossby Financial LCC bought a new position in shares of Johnson Controls International in the first quarter valued at about $42,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Johnson Controls International in the 1st quarter worth about $43,000. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Buying and Selling at Johnson Controls International

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 sale, the chief financial officer owned 147,673 shares in the company, valued at approximately $13,426,429.16. The trade was a 16.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George Oliver sold 100,000 shares of the business's stock in a transaction on 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 sale, the director owned 904,305 shares of the company's stock, valued at $82,924,768.50. This trade represents a 9.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,555 shares of company stock worth $13,705,106. Company insiders own 0.54% of the company's stock.

Johnson Controls International Trading Down 0.3%

Shares of NYSE JCI traded down $0.27 during midday trading on Monday, reaching $106.44. The stock had a trading volume of 1,055,439 shares, compared to its average volume of 4,651,691. The firm has a market cap of $70.04 billion, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 1.96 and a beta of 1.31. Johnson Controls International plc has a twelve month low of $64.31 and a twelve month 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 company's 50 day moving average price is $98.79 and its 200 day moving average price is $87.15.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $5.64 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The company's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International announced that its board has initiated a stock buyback program on Friday, June 13th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Johnson Controls International Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on JCI shares. Wells Fargo & Company lifted their price objective on shares of Johnson Controls International from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Citigroup decreased their target price on shares of Johnson Controls International from $95.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Royal Bank Of Canada raised their target price on shares of Johnson Controls International from $82.00 to $98.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, UBS Group reissued 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. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price 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.