First Hawaiian Bank Sells 6,132 Shares of Johnson Controls International plc $JCI

Key Points

• First Hawaiian Bank reduced its stake in Johnson Controls International by 8.3%, now holding 67,934 shares valued at approximately $5.44 million.
• Several institutional investors increased their holdings significantly, with Allspring Global Investments boosting their stake by 2,213.5% to own over 709,000 shares.
• Johnson Controls International is set to increase its quarterly dividend to $0.40, up from $0.37, signifying a 1.5% yield for shareholders.

First Hawaiian Bank cut its stake in Johnson Controls International plc (NYSE:JCI - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,934 shares of the company's stock after selling 6,132 shares during the quarter. First Hawaiian Bank's holdings in Johnson Controls International were worth $5,442,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of JCI. Truvestments Capital LLC raised its stake in shares of Johnson Controls International by 425.0% in the first quarter. Truvestments Capital LLC now owns 315 shares of the company's stock worth $25,000 after purchasing an additional 255 shares during the last quarter. Accent Capital Management LLC purchased a new stake in shares of Johnson Controls International during the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC increased its position in shares of Johnson Controls International by 74.5% during the first quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock valued at $28,000 after acquiring an additional 155 shares during the last quarter. Activest Wealth Management increased its position in shares of Johnson Controls International by 56.4% during the first quarter. Activest Wealth Management now owns 369 shares of the company's stock valued at $30,000 after acquiring an additional 133 shares during the last quarter. Finally, Community Bank N.A. purchased a new stake in shares of Johnson Controls International during the first quarter valued at approximately $32,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

JCI has been the subject of a number of research analyst reports. Citigroup increased their price target on Johnson Controls International from $110.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Jefferies Financial Group reaffirmed a "hold" rating and set a $120.00 price target on shares of Johnson Controls International in a research report on Thursday, July 24th. Oppenheimer downgraded Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Wells Fargo & Company increased their price target on Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, UBS Group reaffirmed 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. Nine research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $105.72.

Insiders Place Their Bets

In other news, VP Daniel C. Mcconeghy sold 5,917 shares of the firm's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $105.73, for a total value of $625,604.41. Following the completion of the transaction, the vice president directly owned 25,005 shares of the company's stock, valued at $2,643,778.65. This trade represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $105.06, for a total value of $149,395.32. Following the completion of the transaction, the vice president directly owned 139,459 shares of the company's stock, valued at $14,651,562.54. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,183 shares of company stock valued at $1,071,501 over the last ninety days. Corporate insiders own 0.54% of the company's stock.

Johnson Controls International Stock Performance

NYSE:JCI traded down $0.27 during trading hours on Friday, reaching $107.55. The stock had a trading volume of 2,826,261 shares, compared to its average volume of 4,137,854. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.96. The stock has a 50 day simple moving average of $106.70 and a 200 day simple moving average of $95.67. Johnson Controls International plc has a 12-month low of $68.03 and a 12-month high of $112.63. The stock has a market cap of $70.38 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.31.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping 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 firm 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. On average, research analysts forecast that Johnson Controls International plc will post 3.64 EPS for the current fiscal year.

Johnson Controls International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Monday, September 22nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This is an increase from Johnson Controls International's previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. Johnson Controls International's dividend payout ratio is 43.92%.

Johnson Controls International announced that its board has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

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.