DAVENPORT & Co LLC Has $98.89 Million Stock Position in Johnson Controls International plc (NYSE:JCI)

DAVENPORT & Co LLC lessened its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,236,284 shares of the company's stock after selling 5,898 shares during the quarter. DAVENPORT & Co LLC owned 0.19% of Johnson Controls International worth $98,892,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of JCI. Jackson Hole Capital Partners LLC increased its position in shares of Johnson Controls International by 0.7% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 18,621 shares of the company's stock valued at $1,470,000 after purchasing an additional 127 shares during the period. SeaCrest Wealth Management LLC increased its position in shares of Johnson Controls International by 2.7% during the 1st quarter. SeaCrest Wealth Management LLC now owns 5,060 shares of the company's stock valued at $405,000 after purchasing an additional 135 shares during the period. Abacus Planning Group Inc. increased its position in shares of Johnson Controls International by 5.2% during the 1st quarter. Abacus Planning Group Inc. now owns 2,714 shares of the company's stock valued at $217,000 after purchasing an additional 135 shares during the period. HighPoint Advisor Group LLC increased its position in shares of Johnson Controls International by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 8,852 shares of the company's stock valued at $699,000 after purchasing an additional 154 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Johnson Controls International by 10.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,722 shares of the company's stock valued at $138,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on JCI shares. Vertical Research upgraded Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price target on the stock in a research report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target 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. Deutsche Bank Aktiengesellschaft upgraded Johnson Controls International from a "hold" rating to a "buy" rating and lifted their price target for the company from $101.00 to $112.00 in a research report on Monday, May 12th. Royal Bank Of Canada lifted their price target on Johnson Controls International from $82.00 to $98.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Finally, Citigroup decreased their target price on Johnson Controls International from $95.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $97.88.

Insiders Place Their Bets

In other news, Director George Oliver sold 100,000 shares of Johnson Controls International stock in a transaction on Friday, May 9th. The stock was sold at an average price of $91.70, for a total transaction of $9,170,000.00. Following the transaction, the director owned 904,305 shares in the company, valued at approximately $82,924,768.50. The trade was a 9.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Marc Vandiepenbeeck sold 28,289 shares of Johnson Controls International stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $90.92, for a total value of $2,572,035.88. Following the transaction, the chief financial officer owned 147,673 shares in the company, valued at $13,426,429.16. This represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,555 shares of company stock worth $13,705,106. 0.54% of the stock is owned by corporate insiders.

Johnson Controls International Stock Up 1.4%

Shares of JCI stock traded up $1.48 on Friday, reaching $106.55. 2,981,953 shares of the company's stock traded hands, compared to its average volume of 4,322,658. Johnson Controls International plc has a 12-month low of $64.31 and a 12-month high of $106.96. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.81 and a current ratio of 0.96. The company has a market capitalization of $70.11 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 1.96 and a beta of 1.31. The business's 50 day moving average price is $98.79 and its two-hundred day moving average price is $87.03.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. Johnson Controls International had a return on equity of 15.13% and a net margin of 10.19%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Johnson Controls International's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 23rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.39%. Johnson Controls International's dividend payout ratio is 39.47%.

Johnson Controls International announced that its board has initiated a share repurchase plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company's management 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.