CCM Investment Group LLC Invests $2.51 Million in Johnson Controls International plc (NYSE:JCI)

Key Points

• CCM Investment Group LLC has acquired a new position in Johnson Controls International plc valued at approximately $2.51 million, purchasing 31,467 shares in the company during the first quarter.
• Johnson Controls International announced a share repurchase program allowing up to $9 billion to buy back shares, indicating management believes the stock is undervalued.
• The company reported earnings of $1.05 per share, surpassing analyst expectations, and had a net margin of 9.53% for the last quarter.

CCM Investment Group LLC purchased a new stake in Johnson Controls International plc (NYSE:JCI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 31,467 shares of the company's stock, valued at approximately $2,508,000.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC grew its stake in shares of Johnson Controls International by 69.8% in the 1st quarter. Cerity Partners LLC now owns 113,059 shares of the company's stock valued at $9,057,000 after buying an additional 46,459 shares in the last quarter. G&S Capital LLC lifted its holdings in Johnson Controls International by 81.4% in the 1st quarter. G&S Capital LLC now owns 30,342 shares of the company's stock worth $2,431,000 after purchasing an additional 13,612 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Johnson Controls International by 27.8% in the 1st quarter. GAMMA Investing LLC now owns 14,720 shares of the company's stock worth $1,179,000 after purchasing an additional 3,201 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Johnson Controls International by 2,213.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 709,431 shares of the company's stock worth $57,748,000 after purchasing an additional 678,766 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in Johnson Controls International by 22.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,987 shares of the company's stock worth $480,000 after purchasing an additional 1,096 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup boosted their target price on Johnson Controls International from $110.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and set a $116.00 price target (up from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. Barclays upped their price target on Johnson Controls International from $100.00 to $101.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded 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, Royal Bank Of Canada upped their price target on Johnson Controls International from $112.00 to $114.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Johnson Controls International presently has a consensus rating of "Hold" and a consensus target price of $105.17.

Johnson Controls International Price Performance

Shares of JCI stock traded down $0.71 during trading hours on Wednesday, hitting $105.93. 7,802,158 shares of the company's stock were exchanged, compared to its average volume of 4,752,087. The stock's 50-day moving average is $105.47 and its 200-day moving average is $92.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.81. The stock has a market cap of $69.32 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. Johnson Controls International plc has a 52 week low of $67.68 and a 52 week high of $112.63.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The company had revenue of $6.05 billion for the quarter, compared to analysts' expectations of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. As a group, research analysts forecast that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, June 23rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend 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 announced that its board has approved a share buyback program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Johnson Controls International

In other news, VP Anuruddha Rathninde sold 15,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the transaction, the vice president owned 42,574 shares of the company's stock, valued at $4,390,656.62. This represents a 26.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Nathan D. Manning sold 1,422 shares of the company's stock in a transaction 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 in the company, valued at $14,607,950.89. This trade represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,266 shares of company stock worth $1,986,931 in the last 90 days. Company insiders own 0.54% of the company's stock.

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.