17,009 Shares in Johnson Controls International plc (NYSE:JCI) Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management Inc. has acquired a new stake in Johnson Controls International plc worth approximately $1.36 million by purchasing 17,009 shares in the first quarter.
• Several large investors, including TIAA Trust and Strategic Blueprint LLC, have also increased their positions in Johnson Controls International, indicating strong institutional interest in the stock.
• Johnson Controls reported strong financial results, with a beat on EPS at $1.05 compared to estimates of $0.99, and has approved a stock buyback plan allowing for the repurchase of up to $9 billion in shares.

iA Global Asset Management Inc. purchased a new position in Johnson Controls International plc (NYSE:JCI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,009 shares of the company's stock, valued at approximately $1,363,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp boosted its stake in shares of Johnson Controls International by 18.1% during the 4th quarter. Northern Trust Corp now owns 6,690,781 shares of the company's stock valued at $528,103,000 after buying an additional 1,026,623 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Johnson Controls International by 14.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,168,593 shares of the company's stock valued at $486,887,000 after buying an additional 777,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Johnson Controls International by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,988,674 shares of the company's stock valued at $472,705,000 after buying an additional 59,001 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Johnson Controls International by 4.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,561,404 shares of the company's stock valued at $205,194,000 after buying an additional 111,347 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of 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 valued at $202,112,000 after buying an additional 1,012,067 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 have recently commented on the company. Robert W. Baird increased 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. JPMorgan Chase & Co. increased 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. Morgan Stanley increased their target price on Johnson Controls International from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Oppenheimer lowered Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Finally, Jefferies Financial Group reissued a "hold" rating and set a $120.00 price target on shares of Johnson Controls International in a research report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Johnson Controls International currently has an average rating of "Hold" and an average target price of $105.17.

Insiders Place Their Bets

In other news, VP Nathan D. Manning sold 1,422 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $103.69, for a total transaction of $147,447.18. Following the transaction, the vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Anuruddha Rathninde sold 15,000 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $103.13, for a total value of $1,546,950.00. Following the transaction, the vice president directly owned 42,574 shares in the company, valued at $4,390,656.62. This trade represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,266 shares of company stock worth $1,986,931 over the last three months. Corporate insiders own 0.54% of the company's stock.

Johnson Controls International Stock Performance

NYSE JCI traded up $1.09 during trading hours on Friday, hitting $105.40. The company had a trading volume of 6,227,770 shares, compared to its average volume of 4,666,734. Johnson Controls International plc has a fifty-two week low of $66.40 and a fifty-two week high of $112.63. 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 business has a fifty day simple moving average of $105.26 and a 200-day simple moving average of $91.68. The firm has a market cap of $68.97 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 1.87 and a beta of 1.30.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its 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. The firm 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%. Equities analysts predict that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International Dividend Announcement

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

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

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.