Oppenheimer & Co. Inc. Cuts Stock Holdings in Johnson Controls International plc (NYSE:JCI)

Oppenheimer & Co. Inc. lessened its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 11.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 83,706 shares of the company's stock after selling 11,269 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Johnson Controls International were worth $6,706,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of JCI. Wealthcare Advisory Partners LLC increased its position in Johnson Controls International by 9.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,982 shares of the company's stock valued at $319,000 after acquiring an additional 328 shares during the period. Dynamic Advisor Solutions LLC increased its position in Johnson Controls International by 22.4% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 5,987 shares of the company's stock valued at $480,000 after acquiring an additional 1,096 shares during the period. Sowell Financial Services LLC acquired a new stake in Johnson Controls International in the first quarter valued at $216,000. Farther Finance Advisors LLC increased its holdings in Johnson Controls International by 24.5% in the first quarter. Farther Finance Advisors LLC now owns 7,946 shares of the company's stock valued at $647,000 after purchasing an additional 1,566 shares during the period. Finally, Exchange Traded Concepts LLC increased its holdings in Johnson Controls International by 10.6% in the first 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 own 90.05% of the company's stock.

Analyst Upgrades and Downgrades

JCI has been the subject of several recent research reports. Royal Bank Of Canada increased their price target on Johnson Controls International from $82.00 to $98.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased 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. Oppenheimer downgraded shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Barclays increased their target price on shares of Johnson Controls International from $85.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Johnson Controls International from a "hold" rating to a "buy" rating and increased their target price for the company from $101.00 to $112.00 in a research report on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Johnson Controls International has an average rating of "Moderate Buy" and a consensus target price of $97.88.

Johnson Controls International Stock Down 0.2%

NYSE:JCI traded down $0.20 during trading hours on Wednesday, reaching $103.40. The company had a trading volume of 3,752,246 shares, compared to its average volume of 4,306,945. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. The firm has a market cap of $68.04 billion, a price-to-earnings ratio of 27.57, a P/E/G ratio of 2.26 and a beta of 1.33. The business's 50-day simple moving average is $94.92 and its two-hundred day simple moving average is $85.96. Johnson Controls International plc has a twelve month low of $64.31 and a twelve month high of $105.19.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $5.68 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. On average, equities analysts expect that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 23rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Monday, June 23rd. Johnson Controls International's payout ratio is currently 39.47%.

Johnson Controls International declared that its Board of Directors has initiated a stock buyback plan on Friday, June 13th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

Insider Activity at Johnson Controls International

In other news, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $86.91, for a total transaction of $123,586.02. Following the completion of the transaction, the vice president now directly owns 144,704 shares in the company, valued at $12,576,224.64. This trade represents a 0.97% 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, CFO Marc Vandiepenbeeck sold 28,289 shares of Johnson Controls International stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $90.92, for a total transaction of $2,572,035.88. Following the transaction, the chief financial officer now owns 147,673 shares of the company's stock, valued at $13,426,429.16. This represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,555 shares of company stock valued at $13,669,414. 0.54% of the stock is owned by company 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.