Johnson Controls International plc $JCI is Dodge & Cox's 3rd Largest Position

Key Points

• Dodge & Cox has reduced its stake in Johnson Controls International plc by 11.9%, selling approximately 9.55 million shares and now holding over 70.8 million shares, which accounts for 3.2% of their total holdings.
• Johnson Controls International announced a $9 billion share repurchase program, allowing for the buyback of up to 13.4% of its shares, typically indicating management's belief that the shares are undervalued.
• The company's latest quarterly earnings beat expectations, reporting EPS of $1.05 compared to the consensus estimate of $0.99, alongside revenue of $6.05 billion which also surpassed estimates.

Dodge & Cox reduced its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 11.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,818,054 shares of the company's stock after selling 9,551,817 shares during the period. Johnson Controls International accounts for approximately 3.2% of Dodge & Cox's investment portfolio, making the stock its 3rd biggest holding. Dodge & Cox owned approximately 10.76% of Johnson Controls International worth $5,673,234,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of JCI. Nuveen LLC acquired a new stake in Johnson Controls International during the 1st quarter worth about $219,110,000. GAMMA Investing LLC grew its holdings in Johnson Controls International by 10,137.2% during the 1st quarter. GAMMA Investing LLC now owns 1,179,219 shares of the company's stock worth $94,467,000 after acquiring an additional 1,167,700 shares during the period. Northern Trust Corp grew its holdings in Johnson Controls International by 18.1% during the 4th quarter. Northern Trust Corp now owns 6,690,781 shares of the company's stock worth $528,103,000 after acquiring an additional 1,026,623 shares during the period. Nuveen Asset Management LLC grew its holdings in Johnson Controls International by 65.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,560,645 shares of the company's stock worth $202,112,000 after acquiring an additional 1,012,067 shares during the period. Finally, Raiffeisen Bank International AG acquired a new stake in Johnson Controls International during the 4th quarter worth about $78,625,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Johnson Controls International Stock Performance

Shares of Johnson Controls International stock traded up $0.85 during mid-day trading on Wednesday, hitting $109.31. 4,714,356 shares of the stock were exchanged, compared to its average volume of 4,772,099. Johnson Controls International plc has a 12 month low of $67.68 and a 12 month high of $112.63. The company has a 50-day simple moving average of $105.99 and a 200 day simple moving average of $93.86. 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 capitalization of $71.53 billion, a P/E ratio of 32.44, a P/E/G 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 net margin of 9.53% and a return on equity of 14.71%. The firm had revenue of $6.05 billion for the quarter, compared to analysts' expectations of $5.99 billion. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. Sell-side analysts anticipate that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International announced that its Board of Directors has initiated a stock buyback program on Friday, June 13th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to buy up to 13.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Johnson Controls International Announces Dividend

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

Insider Activity at Johnson Controls International

In other news, VP Nathan D. Manning sold 1,422 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The shares were 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 owned 140,881 shares in the company, valued at $14,607,950.89. This trade represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Anuruddha Rathninde sold 15,000 shares of the firm'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 transaction of $1,546,950.00. Following the sale, the vice president owned 42,574 shares of the company's stock, valued at approximately $4,390,656.62. The trade was a 26.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,266 shares of company stock worth $1,986,931. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on JCI shares. Morgan Stanley increased their price target on Johnson Controls International from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Oppenheimer downgraded Johnson Controls International from an "outperform" rating to a "market perform" rating in a report on Friday, June 20th. Zacks Research upgraded Johnson Controls International to a "hold" rating in a research note on Monday, August 11th. UBS Group restated a "buy" rating and issued a $116.00 target price (up from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Finally, Robert W. Baird raised their target price on Johnson Controls International from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Johnson Controls International presently has an average rating of "Hold" and an average target price of $105.72.

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.