Mitsubishi UFJ Asset Management Co. Ltd. Purchases 128,697 Shares of Johnson Controls International plc (NYSE:JCI)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Johnson Controls International by 12.2%, owning approximately 1.18 million shares worth $94.82 million as of the last quarter.
• Several institutional investors have significantly modified their positions, with GAMMA Investing LLC escalating its stake by 10,137.2%, now owning nearly 1.18 million shares.
• Johnson Controls declared a $9.00 billion share buyback plan, indicating the board's belief that the stock is undervalued, alongside a $0.37 quarterly dividend with a yield of 1.4%.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 12.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,183,647 shares of the company's stock after acquiring an additional 128,697 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Johnson Controls International worth $94,822,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. CenterBook Partners LP acquired a new stake in shares of Johnson Controls International during the 1st quarter worth approximately $405,000. Arjuna Capital boosted its stake in Johnson Controls International by 443.2% during the 1st quarter. Arjuna Capital now owns 19,561 shares of the company's stock valued at $1,567,000 after purchasing an additional 15,960 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Johnson Controls International by 13.1% during the 1st quarter. Deutsche Bank AG now owns 2,741,147 shares of the company's stock worth $219,593,000 after acquiring an additional 317,266 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Johnson Controls International by 83.2% in the 1st quarter. Chicago Partners Investment Group LLC now owns 5,329 shares of the company's stock worth $427,000 after purchasing an additional 2,420 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. purchased a new position in Johnson Controls International in the 1st quarter worth about $11,351,000. Institutional investors and hedge funds own 90.05% of the company's stock.

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 that occurred 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 owned 42,574 shares of the company's stock, valued at $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $103.69, for a total value of $147,447.18. Following the sale, the vice president directly owned 140,881 shares of the company's stock, valued at approximately $14,607,950.89. The trade was a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,266 shares of company stock valued at $1,986,931 over the last three months. Insiders own 0.54% of the company's stock.

Johnson Controls International Trading Up 0.4%

Shares of JCI traded up $0.42 during trading hours on Tuesday, hitting $106.13. 1,934,642 shares of the stock traded hands, compared to its average volume of 4,701,388. The business has a fifty day moving average of $105.36 and a 200-day moving average of $91.98. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $69.45 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30. Johnson Controls International plc has a 1-year low of $67.12 and a 1-year high of $112.63.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.99 billion. 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 initiated a stock buyback plan on Friday, June 13th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board 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. Investors of record on Monday, June 23rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend 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 Analysts Forecast Growth

Several analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised Johnson Controls International from a "hold" rating to a "buy" rating and raised their target price for the stock from $101.00 to $112.00 in a research report on Monday, May 12th. Barclays boosted their price target 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. Robert W. Baird upped their price target on 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 boosted their price target on Johnson Controls International from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $105.17.

About Johnson Controls International

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.