Gabelli Funds LLC Reduces Position in Johnson Controls International plc $JCI

Key Points

• Gabelli Funds LLC has reduced its holdings in Johnson Controls International plc by 8.1%, selling 34,218 shares during the first quarter, leaving them with approximately 0.06% ownership valued at $31.29 million.
• Analyst ratings show a mix of opinions on JCI, with Barclays increasing the price target to $101 and UBS raising theirs to $116, while Oppenheimer downgraded their rating.
• Johnson Controls International has authorized a share buyback program of up to $9 billion, representing a belief from the board that the shares are undervalued.

Gabelli Funds LLC lessened its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 8.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 390,604 shares of the company's stock after selling 34,218 shares during the quarter. Gabelli Funds LLC owned approximately 0.06% of Johnson Controls International worth $31,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of JCI. TIAA Trust National Association increased its holdings in shares of Johnson Controls International by 1.0% in the 1st quarter. TIAA Trust National Association now owns 11,339 shares of the company's stock worth $908,000 after buying an additional 115 shares during the last quarter. Strategic Blueprint LLC increased its holdings in shares of Johnson Controls International by 4.3% in the 1st quarter. Strategic Blueprint LLC now owns 2,980 shares of the company's stock worth $239,000 after buying an additional 123 shares during the last quarter. HighPoint Advisor Group LLC increased its holdings in shares of Johnson Controls International by 1.4% in the 1st quarter. HighPoint Advisor Group LLC now owns 8,976 shares of the company's stock worth $739,000 after buying an additional 124 shares during the last quarter. Sfmg LLC increased its holdings in shares of Johnson Controls International by 4.5% in the 1st quarter. Sfmg LLC now owns 2,913 shares of the company's stock worth $233,000 after buying an additional 125 shares during the last quarter. Finally, SeaCrest Wealth Management LLC increased its holdings in shares of Johnson Controls International by 2.7% in the 1st quarter. SeaCrest Wealth Management LLC now owns 5,060 shares of the company's stock worth $405,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 90.05% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on JCI shares. Barclays upped their price target on shares of Johnson Controls International from $100.00 to $101.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and set a $116.00 price target (up from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. Oppenheimer downgraded shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a report on Friday, June 20th. Zacks Research upgraded shares of Johnson Controls International to a "hold" rating in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $105.72.

Insider Buying and Selling

In other Johnson Controls International news, VP Anuruddha Rathninde sold 15,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the transaction, the vice president owned 42,574 shares in the company, valued at approximately $4,390,656.62. This represents a 26.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of the company'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 transaction, the vice president owned 140,881 shares in the company, valued at $14,607,950.89. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,266 shares of company stock valued at $1,986,931 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Johnson Controls International Price Performance

Shares of JCI opened at $106.46 on Tuesday. The company has a 50 day moving average price of $105.90 and a 200-day moving average price of $93.75. Johnson Controls International plc has a fifty-two week low of $67.68 and a fifty-two week high of $112.63. The stock has a market capitalization of $69.67 billion, a PE ratio of 31.59, a PEG ratio of 1.91 and a beta of 1.30. 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 earnings per share 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 during 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. Equities analysts predict that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors 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 dividend on an annualized basis and a yield of 1.4%. Johnson Controls International's dividend payout ratio is presently 43.92%.

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

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.

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