Bayforest Capital Ltd Cuts Stock Position in Johnson Controls International plc (NYSE:JCI)

Key Points

• Bayforest Capital Ltd reduced its stake in Johnson Controls International by 77.7%, selling 2,397 shares and now holding 688 shares valued at approximately $55,000.
• Several institutional investors, including Invesco Ltd and Nuveen Asset Management LLC, recently increased their stakes in Johnson Controls International, highlighting strong investor interest in the stock.
• Johnson Controls International reported an earnings per share of $1.05 for the latest quarter, exceeding expectations, and declared a quarterly dividend of $0.37, representing a yield of 1.4%.

Bayforest Capital Ltd decreased its position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 77.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 688 shares of the company's stock after selling 2,397 shares during the period. Bayforest Capital Ltd's holdings in Johnson Controls International were worth $55,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in JCI. Strategic Blueprint LLC lifted its position in Johnson Controls International by 4.3% in the first quarter. Strategic Blueprint LLC now owns 2,980 shares of the company's stock worth $239,000 after buying an additional 123 shares during the last quarter. HighPoint Advisor Group LLC raised its stake in shares of Johnson Controls International by 1.4% in the first quarter. HighPoint Advisor Group LLC now owns 8,976 shares of the company's stock valued at $739,000 after acquiring an additional 124 shares during the period. SeaCrest Wealth Management LLC boosted its stake in shares of Johnson Controls International by 2.7% during the 1st quarter. SeaCrest Wealth Management LLC now owns 5,060 shares of the company's stock worth $405,000 after purchasing an additional 135 shares during the period. Abacus Planning Group Inc. boosted its stake in shares of Johnson Controls International by 5.2% during the 1st quarter. Abacus Planning Group Inc. now owns 2,714 shares of the company's stock worth $217,000 after purchasing an additional 135 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in Johnson Controls International by 1.2% during the 1st quarter. Wedbush Securities Inc. now owns 12,126 shares of the company's stock valued at $971,000 after purchasing an additional 145 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Insider Transactions at Johnson Controls International

In other Johnson Controls International news, VP Nathan D. Manning sold 1,422 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $103.69, for a total value of $147,447.18. Following the transaction, the vice president directly owned 140,881 shares of the company's stock, valued at $14,607,950.89. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Anuruddha Rathninde sold 15,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $103.13, for a total value of $1,546,950.00. Following the completion of the sale, the vice president owned 42,574 shares of the company's stock, 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. Over the last quarter, insiders have sold 147,555 shares of company stock worth $13,728,967. Company insiders own 0.54% of the company's stock.

Johnson Controls International Stock Down 1.6%

Shares of JCI stock traded down $1.69 during trading hours on Tuesday, reaching $104.79. 3,827,250 shares of the company's stock were exchanged, compared to its average volume of 4,969,149. Johnson Controls International plc has a fifty-two week low of $65.61 and a fifty-two week high of $112.63. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The company has a market cap of $68.96 billion, a price-to-earnings ratio of 31.10, a P/E/G ratio of 1.91 and a beta of 1.30. The stock's 50 day moving average is $104.99 and its 200-day moving average is $91.17.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.99 billion. Analysts predict that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International declared that its board has authorized a share buyback program on Friday, June 13th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Johnson Controls International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, June 23rd were issued a $0.37 dividend. The ex-dividend date was Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.4%. Johnson Controls International's dividend payout ratio (DPR) is presently 43.92%.

Analysts Set New Price Targets

Several research analysts have issued reports on JCI shares. Vertical Research upgraded Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 target price for the company in a research report on Thursday, May 8th. Wells Fargo & Company upped their price objective on Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Robert W. Baird lifted their target price on Johnson Controls International from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft upgraded shares of Johnson Controls International from a "hold" rating to a "buy" rating and upped their price target for the stock from $101.00 to $112.00 in a report on Monday, May 12th. Finally, The Goldman Sachs Group lifted their price objective on shares of Johnson Controls International from $103.00 to $116.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.17.

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.