Johnson Controls International plc $JCI Shares Purchased by Allstate Corp

Key Points

• Allstate Corp increased its stake in Johnson Controls International by 30.2%, owning a total of 25,951 shares valued at approximately $2,079,000.
• Johnson Controls recently announced a $9.00 billion stock repurchase program, allowing the company to buy back up to 13.4% of its shares, which indicates management's belief that the stock is undervalued.
• Analysts have raised their price targets for Johnson Controls, with Goldman Sachs and UBS both setting a target of $116.00, indicating positive sentiment and a "buy" rating for the stock.

Allstate Corp boosted its position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 30.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,951 shares of the company's stock after purchasing an additional 6,017 shares during the period. Allstate Corp's holdings in Johnson Controls International were worth $2,079,000 at the end of the most recent quarter.

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

Insider Activity

In other Johnson Controls International news, VP Anuruddha Rathninde sold 15,000 shares of the stock in a transaction dated 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 sale, the vice president owned 42,574 shares of the company's stock, valued at $4,390,656.62. This trade represents a 26.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $103.69, for a total value of $147,447.18. Following the completion of the transaction, the vice president owned 140,881 shares of the company's stock, 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. In the last 90 days, insiders have sold 19,266 shares of company stock worth $1,986,931. 0.54% of the stock is owned by company insiders.

Johnson Controls International Price Performance

Shares of JCI opened at $107.1130 on Friday. Johnson Controls International plc has a fifty-two week low of $67.68 and a fifty-two week high of $112.63. The firm's 50 day moving average price is $105.86 and its 200 day moving average price is $93.53. The company has a market cap of $70.09 billion, a P/E ratio of 31.78, a PEG ratio of 1.86 and a beta of 1.30. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.50.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.99 billion. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. On average, research analysts forecast that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International declared that its board has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Johnson Controls International Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on JCI shares. The Goldman Sachs Group boosted their price objective on shares of Johnson Controls International from $103.00 to $116.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. 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 research report on Thursday, May 22nd. Robert W. Baird upped their price objective on shares of Johnson Controls International from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley increased their price objective on shares of Johnson Controls International from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised Johnson Controls International from a "hold" rating to a "buy" rating and boosted their target price for the company from $101.00 to $112.00 in a research report on Monday, May 12th. Nine equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Johnson Controls International currently has a consensus rating of "Hold" and a consensus price target of $105.72.

Johnson Controls International Company 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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