Impax Asset Management Group plc Makes New Investment in Johnson Controls International plc (NYSE:JCI)

Impax Asset Management Group plc acquired a new position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,856 shares of the company's stock, valued at approximately $629,000.

Other hedge funds also recently made changes to their positions in the company. G&S Capital LLC lifted its stake in shares of Johnson Controls International by 81.4% in the 1st quarter. G&S Capital LLC now owns 30,342 shares of the company's stock worth $2,431,000 after acquiring an additional 13,612 shares during the period. GAMMA Investing LLC lifted its stake in shares of Johnson Controls International by 27.8% in the 1st quarter. GAMMA Investing LLC now owns 14,720 shares of the company's stock worth $1,179,000 after acquiring an additional 3,201 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Johnson Controls International by 2,213.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 709,431 shares of the company's stock worth $57,748,000 after acquiring an additional 678,766 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in shares of Johnson Controls International by 9.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,982 shares of the company's stock worth $319,000 after acquiring an additional 328 shares during the period. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Johnson Controls International by 22.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,987 shares of the company's stock worth $480,000 after acquiring an additional 1,096 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

JCI has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Royal Bank Of Canada raised their target price on shares of Johnson Controls International from $82.00 to $98.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 8th. Robert W. Baird raised their price objective on shares of Johnson Controls International from $84.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Oppenheimer cut shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a research note on Friday, June 20th. Finally, UBS Group reiterated a "buy" rating and issued a $116.00 price objective (up previously from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $97.88.

Insider Activity

In other news, CFO Marc Vandiepenbeeck sold 28,289 shares of Johnson Controls International stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $90.92, for a total transaction of $2,572,035.88. Following the completion of the sale, the chief financial officer directly owned 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $104.82, for a total transaction of $149,054.04. Following the sale, the vice president owned 141,860 shares of the company's stock, valued at approximately $14,869,765.20. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 147,555 shares of company stock valued at $13,705,106. 0.54% of the stock is owned by corporate insiders.

Johnson Controls International Stock Performance

NYSE:JCI opened at $106.55 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $98.79 and a two-hundred day moving average price of $87.15. Johnson Controls International plc has a twelve month low of $64.31 and a twelve month high of $106.96. The company has a market capitalization of $70.11 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 1.96 and a beta of 1.31.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same period last year, the firm posted $0.78 EPS. The firm's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts expect 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 declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.39%. Johnson Controls International's dividend payout ratio (DPR) is presently 39.47%.

Johnson Controls International announced that its Board of Directors has approved a share repurchase program on Friday, June 13th that permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to purchase up to 13.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors 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.

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