Johnson Controls International plc (NYSE:JCI) Shares Sold by Cary Street Partners Financial LLC

Key Points

• Cary Street Partners Financial LLC decreased its stake in Johnson Controls International plc by 9.0%, selling 5,662 shares during the first quarter, resulting in holdings valued at approximately $4.6 million.
• Johnson Controls International recently reported earnings of $1.05 per share, exceeding analysts' expectations, with quarterly revenue reaching $6.05 billion.
• The company announced a $9 billion share buyback plan, allowing it to repurchase up to 13.4% of its outstanding shares, indicating management's belief that the stock is currently undervalued.

Cary Street Partners Financial LLC decreased its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,519 shares of the company's stock after selling 5,662 shares during the period. Cary Street Partners Financial LLC's holdings in Johnson Controls International were worth $4,608,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Accent Capital Management LLC purchased a new position in shares of Johnson Controls International during the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC increased its stake in Johnson Controls International by 74.5% in the first quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock valued at $28,000 after purchasing an additional 155 shares during the last quarter. Community Bank N.A. purchased a new position in Johnson Controls International during the first quarter worth about $32,000. Rossby Financial LCC acquired a new stake in Johnson Controls International in the 1st quarter worth about $42,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new stake in Johnson Controls International in the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 90.05% of the company's stock.

Insiders Place Their Bets

In related news, VP Anuruddha Rathninde sold 15,000 shares of Johnson Controls International stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the sale, the vice president directly owned 42,574 shares in the company, valued at $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $103.69, for a total transaction of $147,447.18. Following the completion of the sale, the vice president directly owned 140,881 shares of the company's stock, valued at approximately $14,607,950.89. This represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,266 shares of company stock valued at $1,986,931. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on JCI shares. UBS Group reiterated a "buy" rating and set a $116.00 price objective (up from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. Jefferies Financial Group reaffirmed a "hold" rating and set a $120.00 price target on shares of Johnson Controls International in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target 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. The Goldman Sachs Group boosted their price objective on shares of Johnson Controls International from $103.00 to $116.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Oppenheimer downgraded Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $105.17.

Johnson Controls International Stock Performance

Shares of JCI traded up $1.09 during mid-day trading on Friday, hitting $105.40. The stock had a trading volume of 6,227,770 shares, compared to its average volume of 4,666,734. The company has a market cap of $68.97 billion, a PE ratio of 31.28, a PEG ratio of 1.87 and a beta of 1.30. The company's fifty day simple moving average is $105.17 and its two-hundred day simple moving average is $91.52. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.50. Johnson Controls International plc has a fifty-two week low of $66.40 and a fifty-two week high of $112.63.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $5.99 billion. On average, equities analysts expect that Johnson Controls International plc will post 3.64 earnings per share for the current year.

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

Johnson Controls International Dividend Announcement

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

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.