L & S Advisors Inc Has $1.86 Million Stake in Johnson Controls International plc (NYSE:JCI)

Key Points

• L & S Advisors Inc reduced its stock holdings in Johnson Controls International by 42.9%, bringing its total shares to 23,205 after selling 17,445 shares in the first quarter.
• Several institutional investors, including Manchester Capital Management and PNC Financial Services Group, have increased their positions in Johnson Controls, highlighting continued interest in the company despite L & S Advisors' reduction.
• Johnson Controls International announced a quarterly dividend of $0.37 per share and has a significant $9.00 billion stock repurchase plan, indicating confidence in its stock value.

L & S Advisors Inc trimmed its position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 42.9% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,205 shares of the company's stock after selling 17,445 shares during the quarter. L & S Advisors Inc's holdings in Johnson Controls International were worth $1,859,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of JCI. Cornerstone Planning Group LLC raised its holdings in shares of Johnson Controls International by 74.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock worth $28,000 after acquiring an additional 155 shares during the period. Community Bank N.A. purchased a new stake in shares of Johnson Controls International in the 1st quarter valued at approximately $32,000. Rossby Financial LCC purchased a new stake in shares of Johnson Controls International during the 1st quarter valued at approximately $42,000. Bartlett & CO. Wealth Management LLC acquired a new position in Johnson Controls International in the first quarter valued at approximately $43,000. Finally, Heck Capital Advisors LLC acquired a new stake in Johnson Controls International during the fourth quarter worth $48,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Johnson Controls International

In related news, Director George Oliver sold 100,000 shares of Johnson Controls International stock in a transaction on Friday, May 9th. The shares were sold at an average price of $91.70, for a total value of $9,170,000.00. Following the completion of the sale, the director owned 904,305 shares of the company's stock, valued at approximately $82,924,768.50. The trade was a 9.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Nathan D. Manning sold 1,422 shares of the firm's stock in a transaction dated 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 three months, insiders have sold 119,266 shares of company stock valued at $11,156,931. Corporate insiders own 0.54% of the company's stock.

Johnson Controls International Price Performance

Shares of NYSE JCI traded down $0.24 during mid-day trading on Thursday, reaching $104.44. The company had a trading volume of 534,474 shares, compared to its average volume of 4,666,771. The company has a 50-day moving average price of $105.13 and a two-hundred day moving average price of $91.36. The stock has a market cap of $68.72 billion, a PE ratio of 30.99, a P/E/G ratio of 1.88 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. Johnson Controls International plc has a 1-year low of $66.16 and a 1-year high of $112.63.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. On average, equities analysts anticipate 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 permits the company to buyback $9.00 billion in shares. This buyback authorization permits the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Johnson Controls International Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.4%. Johnson Controls International's payout ratio is presently 43.92%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Vertical Research upgraded shares of Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price target for the company in a research note on Thursday, May 8th. The Goldman Sachs Group raised their price objective on shares of Johnson Controls International from $103.00 to $116.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Royal Bank Of Canada upped their target price on shares of Johnson Controls International from $112.00 to $114.00 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Citigroup raised their price objective on shares of Johnson Controls International from $110.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft raised Johnson Controls International from a "hold" rating to a "buy" rating and raised their price target for the company from $101.00 to $112.00 in a report on Monday, May 12th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $105.17.

Johnson Controls International 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.