Federated Hermes Inc. Has $449,000 Stock Holdings in Johnson Controls International plc (NYSE:JCI)

Key Points

• Federated Hermes Inc. increased its holdings in Johnson Controls International plc by 106.8% during the first quarter, now owning 5,599 shares valued at approximately $449,000.
• Johnson Controls International announced a $9.00 billion share repurchase plan, allowing the company to buy back up to 13.4% of its stock, suggesting management believes the stock is undervalued.
• The company's recent earnings report showed a profit of $1.05 per share, exceeding expectations, with revenue of $6.05 billion for the quarter.

Federated Hermes Inc. grew its stake in Johnson Controls International plc (NYSE:JCI - Free Report) by 106.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 5,599 shares of the company's stock after buying an additional 2,891 shares during the quarter. Federated Hermes Inc.'s holdings in Johnson Controls International were worth $449,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC lifted 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 purchasing an additional 155 shares during the last quarter. Community Bank N.A. acquired a new position in Johnson Controls International during the first quarter worth approximately $32,000. Rossby Financial LCC acquired a new position in Johnson Controls International during the first quarter worth approximately $42,000. Bartlett & CO. Wealth Management LLC acquired a new position in Johnson Controls International during the first quarter worth approximately $43,000. Finally, Heck Capital Advisors LLC acquired a new position in Johnson Controls International during the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Johnson Controls International Stock Performance

Shares of Johnson Controls International stock traded down $0.01 during trading on Monday, hitting $105.55. 8,854,148 shares of the stock were exchanged, compared to its average volume of 4,720,356. Johnson Controls International plc has a 12 month low of $66.40 and a 12 month high of $112.63. 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 market cap of $69.07 billion, a PE ratio of 31.32, a P/E/G ratio of 1.89 and a beta of 1.30. The stock's fifty day moving average is $105.26 and its 200 day moving average is $91.81.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its 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. 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 for the quarter, compared to analysts' expectations of $5.99 billion. As a group, sell-side analysts anticipate that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International Announces Dividend

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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a "hold" rating and issued a $120.00 price objective on shares of Johnson Controls International in a report on Thursday, July 24th. Barclays boosted their target price 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. Deutsche Bank Aktiengesellschaft upgraded Johnson Controls International from a "hold" rating to a "buy" rating and upped their price objective for the company from $101.00 to $112.00 in a research report on Monday, May 12th. Vertical Research upgraded Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price objective on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. upped their price objective on Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $105.17.

Insider Buying and Selling at Johnson Controls International

In other news, VP Anuruddha Rathninde sold 15,000 shares of Johnson Controls International stock in a transaction on Friday, June 6th. The stock was sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the transaction, the vice president directly owned 42,574 shares in the company, valued at approximately $4,390,656.62. This trade represents a 26.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction on Friday, August 1st. The shares were sold at an average price of $103.69, for a total value of $147,447.18. Following the transaction, the vice president owned 140,881 shares in the company, valued at approximately $14,607,950.89. This trade represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,266 shares of company stock worth $1,986,931. 0.54% of the stock is owned by insiders.

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.