Fifth Third Bancorp Increases Holdings in Johnson Controls International plc (NYSE:JCI)

Fifth Third Bancorp grew its position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 50.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,828 shares of the company's stock after purchasing an additional 13,062 shares during the quarter. Fifth Third Bancorp's holdings in Johnson Controls International were worth $3,111,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in JCI. Vanguard Group Inc. boosted its position in Johnson Controls International by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 68,156,110 shares of the company's stock worth $5,379,562,000 after purchasing an additional 179,743 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Johnson Controls International by 6.0% during the 4th quarter. Franklin Resources Inc. now owns 23,344,374 shares of the company's stock valued at $1,842,571,000 after buying an additional 1,325,500 shares in the last quarter. Invesco Ltd. grew its stake in Johnson Controls International by 13.2% in the 4th quarter. Invesco Ltd. now owns 18,407,597 shares of the company's stock valued at $1,452,912,000 after acquiring an additional 2,150,573 shares during the period. Fisher Asset Management LLC increased its holdings in Johnson Controls International by 2.9% in the 4th quarter. Fisher Asset Management LLC now owns 15,743,019 shares of the company's stock worth $1,242,597,000 after acquiring an additional 447,513 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Johnson Controls International by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 13,818,777 shares of the company's stock worth $1,087,670,000 after acquiring an additional 343,517 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Johnson Controls International

In other Johnson Controls International news, CFO Marc Vandiepenbeeck sold 28,289 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $90.92, for a total value of $2,572,035.88. Following the completion of the transaction, the chief financial officer now owns 147,673 shares in the company, valued at $13,426,429.16. The trade was a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director George Oliver sold 100,000 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $91.70, for a total value of $9,170,000.00. Following the completion of the sale, the director now owns 904,305 shares in the company, valued at approximately $82,924,768.50. The trade was a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,555 shares of company stock worth $13,669,414. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Morgan Stanley boosted their price objective on Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. UBS Group reissued a "buy" rating and set a $116.00 target price (up previously from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. JPMorgan Chase & Co. lifted their price target on Johnson Controls International from $81.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Royal Bank Of Canada boosted their price target on Johnson Controls International from $82.00 to $98.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $97.88.

Johnson Controls International Trading Down 0.0%

Shares of Johnson Controls International stock traded down $0.03 during mid-day trading on Wednesday, hitting $103.81. The stock had a trading volume of 1,547,301 shares, compared to its average volume of 4,636,284. The firm has a 50-day moving average of $91.87 and a two-hundred day moving average of $85.16. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm has a market cap of $68.31 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.28 and a beta of 1.33. Johnson Controls International plc has a 12-month low of $64.31 and a 12-month high of $105.19.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. Johnson Controls International had a net margin of 10.19% and a return on equity of 15.13%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same period in the previous year, the firm earned $0.78 EPS. The business's revenue was up 1.4% on a year-over-year basis. Sell-side 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 of Directors has authorized a share buyback plan on Friday, June 13th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 23rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Monday, June 23rd. Johnson Controls International's dividend payout ratio (DPR) is currently 39.47%.

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.