Massachusetts Financial Services Co. MA Trims Stock Holdings in Johnson Controls International plc (NYSE:JCI)

Massachusetts Financial Services Co. MA decreased its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 31.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,623,877 shares of the company's stock after selling 3,035,733 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.00% of Johnson Controls International worth $530,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its position 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 buying an additional 155 shares during the last quarter. Community Bank N.A. purchased a new stake in Johnson Controls International in the first quarter valued at $32,000. Crowley Wealth Management Inc. purchased a new stake in Johnson Controls International in the fourth quarter valued at $42,000. Rossby Financial LCC acquired a new position in Johnson Controls International in the first quarter valued at $42,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Johnson Controls International during the first quarter worth about $43,000. 90.05% of the stock is owned by institutional investors and hedge funds.

Johnson Controls International Price Performance

Shares of JCI traded up $1.24 during mid-day trading on Wednesday, hitting $107.26. The company's stock had a trading volume of 3,841,607 shares, compared to its average volume of 4,348,254. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.48. Johnson Controls International plc has a 1-year low of $64.31 and a 1-year high of $107.79. The firm has a market capitalization of $70.58 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.92 and a beta of 1.31. The firm has a 50-day simple moving average of $101.96 and a 200 day simple moving average of $88.47.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.82 EPS 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 company had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the company earned $0.78 earnings per share. Johnson Controls International's quarterly revenue was up 1.4% compared to the same quarter last year. Analysts predict that Johnson Controls International plc will post 3.64 EPS for the current fiscal year.

Johnson Controls International declared that its Board of Directors has authorized a share buyback program on Friday, June 13th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to purchase up to 13.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Johnson Controls International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 23rd will be issued a $0.37 dividend. The ex-dividend date is Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.38%. Johnson Controls International's dividend payout ratio (DPR) is presently 39.47%.

Insider Activity at Johnson Controls International

In related news, CFO Marc Vandiepenbeeck sold 28,289 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $90.92, for a total value of $2,572,035.88. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George Oliver sold 100,000 shares of the business's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $91.70, for a total value of $9,170,000.00. Following the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 147,555 shares of company stock valued at $13,705,106 in the last 90 days. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on JCI. Citigroup reiterated a "neutral" rating and issued a $110.00 price objective (up previously from $94.00) on shares of Johnson Controls International in a research note on Monday. Wells Fargo & Company upped their price target on shares of Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. increased their price target 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. UBS Group restated a "buy" rating and issued a $116.00 price objective (up from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Finally, Morgan Stanley increased their target price on shares of Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Johnson Controls International presently has a consensus rating of "Moderate Buy" and an average target price of $102.00.

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.