Founders Financial Alliance LLC Takes $473,000 Position in Johnson Controls International plc (NYSE:JCI)

Key Points

• Founders Financial Alliance LLC acquired a new stake in Johnson Controls International, purchasing 5,903 shares valued at approximately $473,000 in the first quarter.
• The company announced a $9.00 billion stock buyback plan, allowing the repurchase of up to 13.4% of its outstanding shares, signaling confidence from the board in the stock's valuation.
• Johnson Controls International reported earnings of $1.05 per share for the last quarter, exceeding analysts' expectations of $0.99, alongside a revenue of $6.05 billion.

Founders Financial Alliance LLC purchased a new stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,903 shares of the company's stock, valued at approximately $473,000.

Several other institutional investors have also made changes to their positions in the company. Accent Capital Management LLC acquired a new stake in Johnson Controls International in the 1st quarter worth approximately $26,000. Cornerstone Planning Group LLC increased its position in Johnson Controls International by 74.5% in the 1st quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock worth $28,000 after buying an additional 155 shares during the period. Community Bank N.A. bought a new position in Johnson Controls International in the 1st quarter worth approximately $32,000. Rossby Financial LCC bought a new position in Johnson Controls International in the 1st quarter worth approximately $42,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in Johnson Controls International in the 1st quarter worth approximately $43,000. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Johnson Controls International Price Performance

NYSE:JCI traded up $1.01 during trading hours on Tuesday, reaching $106.72. The company had a trading volume of 6,756,005 shares, compared to its average volume of 4,727,465. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $69.84 billion, a PE ratio of 31.67, a PEG ratio of 1.89 and a beta of 1.30. The stock has a 50-day moving average of $105.36 and a two-hundred day moving average of $91.98. Johnson Controls International plc has a one year low of $67.12 and a one year high of $112.63.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. Analysts forecast that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International declared that its Board of Directors has initiated a stock repurchase plan on Friday, June 13th that permits the company to buyback $9.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Johnson Controls International Announces Dividend

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

Insiders Place Their Bets

In other Johnson Controls International news, VP Nathan D. Manning sold 1,422 shares of the business's stock in a transaction 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 approximately $14,607,950.89. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Anuruddha Rathninde sold 15,000 shares of the business's stock in a transaction 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 represents a 26.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 19,266 shares of company stock worth $1,986,931. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on JCI. UBS Group reaffirmed a "buy" rating and issued a $116.00 price target (up from $103.00) on shares of Johnson Controls International in a research report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft upgraded Johnson Controls International from a "hold" rating to a "buy" rating and boosted their price objective for the company from $101.00 to $112.00 in a research report on Monday, May 12th. JPMorgan Chase & Co. boosted their price objective on Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Royal Bank Of Canada boosted their price objective on Johnson Controls International from $112.00 to $114.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group restated a "hold" rating and set a $120.00 price objective on shares of Johnson Controls International in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Johnson Controls International currently has a consensus rating of "Hold" and a consensus price target of $105.17.

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.