Price T Rowe Associates Inc. MD Raises Position in Johnson Controls International plc $JCI

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Johnson Controls International by 7.7% in the first quarter, acquiring an additional 143,825 shares, bringing its total ownership to approximately 0.31% worth $162.1 million.
• Johnson Controls International has approved a stock repurchase plan allowing the company to buy back up to $9 billion in shares, indicating the board’s belief in the undervaluation of the stock.
• The company reported $1.05 EPS for the recent quarter, surpassing expectations, and provided guidance of 3.650-3.680 EPS for FY 2025.

Price T Rowe Associates Inc. MD lifted its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,023,471 shares of the company's stock after buying an additional 143,825 shares during the period. Price T Rowe Associates Inc. MD owned about 0.31% of Johnson Controls International worth $162,101,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in JCI. Nuveen LLC bought a new position in shares of Johnson Controls International in the 1st quarter worth $219,110,000. GAMMA Investing LLC raised its stake in shares of Johnson Controls International by 10,137.2% in the 1st quarter. GAMMA Investing LLC now owns 1,179,219 shares of the company's stock valued at $94,467,000 after purchasing an additional 1,167,700 shares in the last quarter. Northern Trust Corp grew its position in Johnson Controls International by 18.1% in the fourth quarter. Northern Trust Corp now owns 6,690,781 shares of the company's stock worth $528,103,000 after buying an additional 1,026,623 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Johnson Controls International by 65.4% in the fourth quarter. Nuveen Asset Management LLC now owns 2,560,645 shares of the company's stock worth $202,112,000 after acquiring an additional 1,012,067 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in shares of Johnson Controls International during the fourth quarter worth $78,625,000. Institutional investors own 90.05% of the company's stock.

Johnson Controls International Stock Performance

Shares of JCI traded down $0.61 during mid-day trading on Thursday, hitting $108.66. 3,751,931 shares of the company's stock were exchanged, compared to its average volume of 4,764,350. Johnson Controls International plc has a 52 week low of $67.68 and a 52 week high of $112.63. The firm has a market cap of $71.11 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.93 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. The stock's 50-day simple moving average is $106.11 and its 200-day simple moving average is $93.96.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $6.05 billion during 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%. 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, equities research analysts expect that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International declared that its Board of Directors has approved a share repurchase plan on Friday, June 13th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors 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 given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 23rd. Johnson Controls International's dividend payout ratio (DPR) is currently 43.92%.

Insider Activity at Johnson Controls International

In other Johnson Controls International news, VP Anuruddha Rathninde sold 15,000 shares of the business'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 owned 42,574 shares in the company, valued at $4,390,656.62. The trade was a 26.05% decrease in their position. 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 the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $103.69, for a total transaction 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. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,266 shares of company stock valued at $1,986,931. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group increased their target price on Johnson Controls International from $103.00 to $116.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on Johnson Controls International from $81.00 to $98.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays upped their price objective on Johnson Controls International from $100.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. UBS Group reaffirmed a "buy" rating and issued a $116.00 target price (up from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Nine research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Johnson Controls International has a consensus rating of "Hold" and an average target price of $105.72.

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.