Johnson Controls International plc $JCI Shares Acquired by PGGM Investments

Key Points

• PGGM Investments increased its stake in Johnson Controls International by 85% in Q2, owning 186,729 shares worth approximately $19.7 million.
• Johnson Controls International reported Q2 earnings per share (EPS) of $1.05, exceeding analysts' estimates of $0.99, with revenue of $6.05 billion.
• The company announced a quarterly dividend increase to $0.40 per share, representing a 1.5% yield, effective for investors of record on September 22nd.

PGGM Investments grew its position in Johnson Controls International plc (NYSE:JCI - Free Report) by 85.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 186,729 shares of the company's stock after acquiring an additional 85,813 shares during the quarter. PGGM Investments' holdings in Johnson Controls International were worth $19,722,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Grove Bank & Trust raised its holdings in shares of Johnson Controls International by 3.5% in the 2nd quarter. Grove Bank & Trust now owns 3,117 shares of the company's stock worth $329,000 after purchasing an additional 106 shares during the period. TIAA Trust National Association raised its holdings in shares of Johnson Controls International by 1.0% during the 1st quarter. TIAA Trust National Association now owns 11,339 shares of the company's stock valued at $908,000 after buying an additional 115 shares during the period. Strategic Blueprint LLC raised its holdings in shares of Johnson Controls International by 4.3% during the 1st quarter. Strategic Blueprint LLC now owns 2,980 shares of the company's stock valued at $239,000 after buying an additional 123 shares during the period. Sowell Financial Services LLC raised its holdings in shares of Johnson Controls International by 4.6% during the 2nd quarter. Sowell Financial Services LLC now owns 2,820 shares of the company's stock valued at $298,000 after buying an additional 123 shares during the period. Finally, HighPoint Advisor Group LLC raised its holdings in shares of Johnson Controls International by 1.4% during the 1st quarter. HighPoint Advisor Group LLC now owns 8,976 shares of the company's stock valued at $739,000 after buying an additional 124 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Johnson Controls International Trading Up 1.7%

NYSE:JCI opened at $109.97 on Wednesday. Johnson Controls International plc has a 12-month low of $68.03 and a 12-month high of $112.63. The firm has a market capitalization of $71.96 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.92 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.81. The business has a 50 day simple moving average of $106.89 and a 200 day simple moving average of $97.86.

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

Johnson Controls International declared that its Board of Directors has initiated a share buyback program on Friday, June 13th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to buy up to 13.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board believes its stock is undervalued.

Johnson Controls International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 22nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, September 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 1.5%. This is an increase from Johnson Controls International's previous quarterly dividend of $0.37. Johnson Controls International's payout ratio is presently 47.48%.

Insider Buying and Selling

In related news, VP Daniel C. Mcconeghy sold 5,917 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $105.73, for a total transaction of $625,604.41. Following the completion of the transaction, the vice president owned 25,005 shares in the company, valued at $2,643,778.65. The trade was a 19.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Nathan D. Manning sold 1,422 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $105.06, for a total value of $149,395.32. Following the transaction, the vice president owned 139,459 shares of the company's stock, valued at $14,651,562.54. This represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,761 shares of company stock valued at $922,447 in the last 90 days. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on JCI shares. Robert W. Baird raised their target price on Johnson Controls International from $90.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Oppenheimer downgraded Johnson Controls International from an "outperform" rating to a "market perform" rating in a report on Friday, June 20th. Jefferies Financial Group reiterated a "hold" rating and set a $120.00 target price on shares of Johnson Controls International in a report on Thursday, July 24th. The Goldman Sachs Group raised their target price on Johnson Controls International from $119.00 to $124.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, Morgan Stanley lifted their price objective on Johnson Controls International from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Nine equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $108.28.

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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