Johnson Controls International plc $JCI Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in Johnson Controls International plc by 4.1%, ending the quarter with 147,235 shares valued at approximately $11.8 million.
• Johnson Controls International's stock recently increased by 2% and reported Q2 earnings of $1.05 per share, exceeding analysts' expectations.
• The company has initiated a $9 billion stock buyback program, allowing repurchases of up to 13.4% of its outstanding shares.

Corebridge Financial Inc. decreased its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,235 shares of the company's stock after selling 6,294 shares during the quarter. Corebridge Financial Inc.'s holdings in Johnson Controls International were worth $11,795,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in JCI. Nuveen LLC purchased a new position in Johnson Controls International during the first quarter valued at $219,110,000. GAMMA Investing LLC increased its holdings in shares of Johnson Controls International by 10,137.2% in the 1st quarter. GAMMA Investing LLC now owns 1,179,219 shares of the company's stock worth $94,467,000 after purchasing an additional 1,167,700 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Johnson Controls International by 18.1% in the 4th quarter. Northern Trust Corp now owns 6,690,781 shares of the company's stock worth $528,103,000 after purchasing an additional 1,026,623 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Johnson Controls International by 65.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,560,645 shares of the company's stock worth $202,112,000 after purchasing an additional 1,012,067 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Johnson Controls International in the 4th quarter worth $78,625,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Johnson Controls International Stock Performance

NYSE JCI traded down $1.77 on Friday, hitting $106.88. 4,216,482 shares of the company traded hands, compared to its average volume of 5,098,977. The company has a market capitalization of $69.94 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.93 and a beta of 1.30. 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 business's 50 day moving average price is $106.31 and its 200-day moving average price is $94.22. 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 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. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. Equities analysts expect that Johnson Controls International plc will post 3.64 earnings per share 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 paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.4%. Johnson Controls International's dividend payout ratio is currently 43.92%.

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

Analysts Set New Price Targets

A number of research firms have commented on JCI. Deutsche Bank Aktiengesellschaft raised Johnson Controls International from a "hold" rating to a "buy" rating and lifted their target price for the stock from $101.00 to $112.00 in a report on Monday, May 12th. 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 report on Wednesday, July 30th. 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 report on Thursday, July 17th. 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 report on Thursday, May 8th. Finally, Zacks Research raised Johnson Controls International to a "hold" rating in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $105.72.

Insider Buying and Selling

In related news, VP Nathan D. Manning sold 1,422 shares of the stock in a transaction that occurred on 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 $14,607,950.89. This represents a 1.00% 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 Anuruddha Rathninde sold 15,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $103.13, for a total value of $1,546,950.00. Following the completion of the transaction, the vice president directly owned 42,574 shares in the company, valued at approximately $4,390,656.62. This trade represents a 26.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,266 shares of company stock worth $1,986,931. Insiders own 0.54% of the company's stock.

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.