Envestnet Portfolio Solutions Inc. decreased its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 17.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,615 shares of the company's stock after selling 15,781 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Johnson Controls International were worth $5,897,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Johnson Controls International during the 4th quarter worth approximately $568,309,000. Norges Bank acquired a new stake in shares of Johnson Controls International during the 4th quarter valued at approximately $560,549,000. Invesco Ltd. lifted its stake in Johnson Controls International by 13.2% during the fourth quarter. Invesco Ltd. now owns 18,407,597 shares of the company's stock worth $1,452,912,000 after purchasing an additional 2,150,573 shares during the last quarter. Amundi lifted its stake in Johnson Controls International by 76.7% during the fourth quarter. Amundi now owns 3,870,478 shares of the company's stock worth $309,422,000 after purchasing an additional 1,680,431 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Johnson Controls International by 6.0% in the fourth quarter. Franklin Resources Inc. now owns 23,344,374 shares of the company's stock worth $1,842,571,000 after purchasing an additional 1,325,500 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.
Johnson Controls International Price Performance
Shares of JCI stock traded down $1.38 during midday trading on Friday, reaching $102.10. 7,516,991 shares of the company were exchanged, compared to its average volume of 4,305,162. The company's 50 day moving average price is $93.39 and its two-hundred day moving average price is $85.56. The company has a market cap of $67.18 billion, a P/E ratio of 27.23, a PEG ratio of 2.24 and a beta of 1.33. Johnson Controls International plc has a 12 month low of $64.31 and a 12 month high of $105.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.81 and a current ratio of 0.96.
Johnson Controls International (NYSE:JCI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.64 billion. Johnson Controls International had a return on equity of 15.13% and a net margin of 10.19%. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, sell-side analysts expect that Johnson Controls International plc will post 3.64 earnings per share for the current year.
Johnson Controls International announced that its board has initiated a stock buyback program on Friday, June 13th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 13.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.
Johnson Controls International Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 23rd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, June 23rd. Johnson Controls International's payout ratio is currently 39.47%.
Insiders Place Their Bets
In other Johnson Controls International news, VP Anuruddha Rathninde sold 15,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $103.13, for a total value of $1,546,950.00. Following the transaction, the vice president now owns 42,574 shares of the company's stock, valued at approximately $4,390,656.62. This represents a 26.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Nathan D. Manning sold 1,422 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $79.72, for a total value of $113,361.84. Following the sale, the vice president now directly owns 145,502 shares of the company's stock, valued at approximately $11,599,419.44. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,555 shares of company stock worth $13,669,414. 0.54% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts have weighed in on JCI shares. Barclays raised their price target on shares of Johnson Controls International from $85.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. JPMorgan Chase & Co. increased their price objective on shares of Johnson Controls International from $81.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup decreased their target price on Johnson Controls International from $95.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada upped their target price on Johnson Controls International from $82.00 to $98.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft raised Johnson Controls International from a "hold" rating to a "buy" rating and raised their price target for the stock from $101.00 to $112.00 in a report on Monday, May 12th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $97.88.
Read Our Latest Research Report on JCI
Johnson Controls International Company Profile
(
Free Report)
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.
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