Mackenzie Financial Corp Has $27.13 Million Position in Johnson Controls International plc (NYSE:JCI)

Key Points

• Mackenzie Financial Corp increased its stake in Johnson Controls International by 5.1%, bringing its total ownership to approximately $27.1 million.
• Despite recent insider selling, institutional investors own 90.05% of Johnson Controls International's stock, indicating strong institutional confidence in the company.
• Wall Street analysts have generally upgraded their ratings for Johnson Controls International, with recent price targets suggesting potential growth, the highest being $130.00 from Wells Fargo.

Mackenzie Financial Corp increased its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 338,602 shares of the company's stock after purchasing an additional 16,305 shares during the period. Mackenzie Financial Corp owned 0.05% of Johnson Controls International worth $27,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC grew its position in shares of Johnson Controls International by 74.5% in the first quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock valued at $28,000 after purchasing an additional 155 shares during the period. Community Bank N.A. purchased a new stake in shares of Johnson Controls International in the first quarter valued at $32,000. Rossby Financial LCC purchased a new stake in shares of Johnson Controls International in the first quarter valued at $42,000. Bartlett & CO. Wealth Management LLC purchased a new stake in shares of Johnson Controls International in the first quarter valued at $43,000. Finally, Heck Capital Advisors LLC purchased a new stake in Johnson Controls International during the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 90.05% of the company's stock.

Johnson Controls International Stock Up 1.4%

Shares of NYSE:JCI traded up $1.48 during trading on Friday, hitting $106.48. The company's stock had a trading volume of 5,337,529 shares, compared to its average volume of 4,723,867. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.96. Johnson Controls International plc has a fifty-two week low of $64.31 and a fifty-two week high of $112.63. The stock's 50-day moving average price is $104.65 and its two-hundred day moving average price is $90.66. The company has a market capitalization of $70.07 billion, a PE ratio of 31.60, a PEG ratio of 1.85 and a beta of 1.31.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The firm had revenue of $6.05 billion for the quarter, compared to analysts' expectations of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. As a group, sell-side analysts expect that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, June 23rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 23rd. Johnson Controls International's dividend payout ratio is 39.47%.

Johnson Controls International declared that its board has approved a stock buyback program on Friday, June 13th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JCI. Barclays boosted their price target on Johnson Controls International from $100.00 to $101.00 and gave the company an "equal weight" rating in a research report on Wednesday. Oppenheimer downgraded Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Jefferies Financial Group reissued a "hold" rating and set a $120.00 price target on shares of Johnson Controls International in a research report on Thursday, July 24th. UBS Group restated a "buy" rating and set a $116.00 price objective (up previously from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Finally, Morgan Stanley boosted their price objective on Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $105.17.

Insiders Place Their Bets

In other news, VP Nathan D. Manning sold 1,422 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $104.82, for a total transaction of $149,054.04. Following the completion of the sale, the vice president owned 141,860 shares in the company, valued at approximately $14,869,765.20. This represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Oliver sold 100,000 shares of the 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 $82,924,768.50. The trade was a 9.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,133 shares of company stock valued at $13,581,520. 0.54% of the stock is owned by corporate insiders.

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.