Deutsche Bank AG Has $219.59 Million Holdings in Johnson Controls International plc (NYSE:JCI)

Key Points

• Deutsche Bank AG has increased its stake in Johnson Controls International by 13.1%, now owning approximately 2.74 million shares valued at about $219.6 million.
• Multiple brokerages have raised their price targets for Johnson Controls, with Morgan Stanley increasing it to $115.00, reflecting positive sentiment towards the company's performance.
• Johnson Controls recently announced a $9 billion stock buyback program, indicating a belief that its shares are currently undervalued.

Deutsche Bank AG lifted its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 13.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,741,147 shares of the company's stock after purchasing an additional 317,266 shares during the quarter. Deutsche Bank AG owned about 0.42% of Johnson Controls International worth $219,593,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Accent Capital Management LLC bought a new stake in Johnson Controls International in the first quarter worth about $26,000. Cornerstone Planning Group LLC raised its position in Johnson Controls International by 74.5% in the first quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock worth $28,000 after acquiring an additional 155 shares in the last quarter. Community Bank N.A. bought a new stake in Johnson Controls International in the first quarter worth about $32,000. Rossby Financial LCC bought a new stake in Johnson Controls International in the first quarter worth about $42,000. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in Johnson Controls International in the first quarter worth about $43,000. 90.05% of the stock is currently owned by institutional investors.

Insider Activity at Johnson Controls International

In related news, VP Anuruddha Rathninde sold 15,000 shares of the business's 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 sale, the vice president directly owned 42,574 shares in the company, valued at approximately $4,390,656.62. The trade was a 26.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Nathan D. Manning sold 1,422 shares of the business'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 value of $147,447.18. Following the completion of the sale, the vice president owned 140,881 shares of the company's stock, valued at approximately $14,607,950.89. This trade 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 sold 19,266 shares of company stock valued at $1,986,931. Corporate insiders own 0.54% of the company's stock.

Johnson Controls International Stock Up 1.0%

Shares of NYSE JCI traded up $1.01 during trading hours on Tuesday, hitting $106.72. The stock had a trading volume of 5,801,568 shares, compared to its average volume of 4,727,424. The company has a market capitalization of $69.84 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.89 and a beta of 1.30. The firm's 50-day moving average price is $105.36 and its two-hundred day moving average price is $91.98. Johnson Controls International plc has a 52 week low of $67.12 and a 52 week high of $112.63. 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 (NYSE:JCI - Get Free Report) last announced its quarterly earnings results 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 during 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%. Analysts anticipate that Johnson Controls International plc will post 3.64 EPS for the current fiscal year.

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

Johnson Controls International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, June 23rd were issued a $0.37 dividend. 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 43.92%.

Analyst Upgrades and Downgrades

JCI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised Johnson Controls International from a "hold" rating to a "buy" rating and lifted their price target for the stock from $101.00 to $112.00 in a research note on Monday, May 12th. Barclays lifted their price target on Johnson Controls International from $100.00 to $101.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada lifted their price target 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. Citigroup lifted their target price on Johnson Controls International from $110.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target 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.