Busey Bank Sells 4,473 Shares of Johnson Controls International plc $JCI

Key Points

• Busey Bank reduced its stake in Johnson Controls International plc by 2.2%, selling 4,473 shares, leaving it with 194,547 shares worth approximately $20.5 million.
• Johnson Controls announced a $9.00 billion stock buyback plan authorized by its Board of Directors, allowing for the repurchase of up to 13.4% of its outstanding shares.
• The company recently increased its quarterly dividend from $0.37 to $0.40, reflecting a positive outlook with a dividend yield of 1.5% and a payout ratio of 43.92%.

Busey Bank lessened its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 194,547 shares of the company's stock after selling 4,473 shares during the quarter. Busey Bank's holdings in Johnson Controls International were worth $20,548,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Truvestments Capital LLC increased its position in shares of Johnson Controls International by 425.0% during the 1st quarter. Truvestments Capital LLC now owns 315 shares of the company's stock worth $25,000 after purchasing an additional 255 shares during the last quarter. Accent Capital Management LLC acquired a new position in shares of Johnson Controls International during the 1st quarter worth approximately $26,000. Cornerstone Planning Group LLC increased its position in shares of Johnson Controls International by 74.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock worth $28,000 after purchasing an additional 155 shares during the last quarter. Activest Wealth Management increased its position in shares of Johnson Controls International by 56.4% during the 1st quarter. Activest Wealth Management now owns 369 shares of the company's stock worth $30,000 after purchasing an additional 133 shares during the last quarter. Finally, Community Bank N.A. acquired a new position in shares of Johnson Controls International during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Activity

In related news, VP Daniel C. Mcconeghy sold 5,917 shares of the company's stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $105.73, for a total transaction of $625,604.41. Following the sale, the vice president owned 25,005 shares in the company, valued at $2,643,778.65. This represents a 19.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $105.06, for a total value of $149,395.32. Following the sale, the vice president owned 139,459 shares in the company, valued at approximately $14,651,562.54. The trade was a 1.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,183 shares of company stock valued at $1,071,501. Insiders own 0.54% of the company's stock.

Johnson Controls International Price Performance

Johnson Controls International stock opened at $108.68 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.96. Johnson Controls International plc has a 52 week low of $68.03 and a 52 week high of $112.63. The stock has a market capitalization of $71.12 billion, a P/E ratio of 32.25, a price-to-earnings-growth ratio of 1.93 and a beta of 1.31. The stock has a fifty day moving average of $106.88 and a 200-day moving average of $96.35.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%.The business had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.99 billion. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. On average, sell-side analysts expect that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International announced that its Board of Directors has approved a stock repurchase plan on Friday, June 13th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Johnson Controls International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Monday, September 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Johnson Controls International's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 1.5%. Johnson Controls International's payout ratio is currently 43.92%.

Wall Street Analyst Weigh In

JCI has been the subject of several research analyst reports. Royal Bank Of Canada lifted their target price on Johnson Controls International from $112.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Wells Fargo & Company lifted their target price on Johnson Controls International from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note 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 note on Thursday, July 17th. The Goldman Sachs Group lifted their target price on Johnson Controls International from $119.00 to $124.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, Oppenheimer downgraded Johnson Controls International from an "outperform" rating to a "market perform" rating in a research note on Friday, June 20th. Ten investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.58.

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.

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