Charles Schwab Investment Management Inc. Sells 18,378 Shares of Johnson Controls International plc (NYSE:JCI)

Key Points

• Charles Schwab Investment Management Inc. sold 18,378 shares of Johnson Controls International plc, reducing its stake by 0.5% to 4,035,453 shares, valued at approximately $323.28 million.
• GAMMA Investing LLC significantly increased its investment in Johnson Controls International, raising its position by 10,137.2% to over 1.17 million shares.
• Equity analysts have a consensus rating of "Hold" for Johnson Controls International, with varying price targets ranging from $101.00 to $130.00 based on recent assessments.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,035,453 shares of the company's stock after selling 18,378 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.61% of Johnson Controls International worth $323,280,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in JCI. Accent Capital Management LLC bought a new stake in shares of Johnson Controls International during the 1st quarter worth $26,000. Cornerstone Planning Group LLC raised its stake 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 period. Community Bank N.A. bought a new stake in shares of Johnson Controls International during the 1st quarter worth $32,000. Rossby Financial LCC bought a new stake in shares of Johnson Controls International during the 1st quarter worth $42,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of Johnson Controls International during the 1st quarter worth $43,000. 90.05% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Anuruddha Rathninde sold 15,000 shares of the business's stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Nathan D. Manning sold 1,422 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $103.69, for a total value of $147,447.18. Following the transaction, the vice president owned 140,881 shares of the company's stock, valued at approximately $14,607,950.89. The trade was 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.

Johnson Controls International Price Performance

Johnson Controls International stock traded up $1.01 during midday trading on Tuesday, hitting $106.72. 5,801,568 shares of the company's stock were exchanged, compared to its average volume of 4,727,424. Johnson Controls International plc has a 52-week low of $67.12 and a 52-week high of $112.63. The stock has a 50-day moving average price of $105.36 and a two-hundred day moving average price of $91.98. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.96. The company has a market cap of $69.84 billion, a P/E ratio of 31.67, a PEG ratio of 1.89 and a beta of 1.30.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted 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. 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. On average, equities research analysts forecast that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International announced that its board has authorized a share 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 a sign that the company's board of directors believes its stock is undervalued.

Johnson Controls International Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on JCI shares. 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 research report on Thursday, May 22nd. Robert W. Baird raised 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. The Goldman Sachs Group raised their target price on Johnson Controls International from $103.00 to $116.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Vertical Research raised 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. Finally, Wells Fargo & Company raised their target price on Johnson Controls International from $100.00 to $130.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Johnson Controls International presently has an average rating of "Hold" and a consensus target price of $105.17.

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.