National Pension Service Boosts Holdings in Johnson Controls International plc (NYSE:JCI)

Key Points

• The National Pension Service increased its stake in Johnson Controls International, acquiring an additional 109,505 shares, bringing its total holdings to 1,658,843 shares, valued at approximately $132.89 million.
• Insider transactions revealed significant sales, including VP Anuruddha Rathninde selling 15,000 shares at an average price of $103.13, representing a 26.05% decrease in their position.
• Johnson Controls authorized a $9 billion share buyback plan, allowing for the repurchase of up to 13.4% of its stock, signaling management's belief that shares may be undervalued.

National Pension Service boosted its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,658,843 shares of the company's stock after acquiring an additional 109,505 shares during the period. National Pension Service owned 0.25% of Johnson Controls International worth $132,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Accent Capital Management LLC purchased a new position in Johnson Controls International during the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC increased its position in Johnson Controls International by 74.5% during the first quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock valued at $28,000 after acquiring an additional 155 shares during the last quarter. Community Bank N.A. bought a new position in Johnson Controls International during the first quarter valued at $32,000. Rossby Financial LCC bought a new position in Johnson Controls International during the first quarter valued at $42,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in Johnson Controls International in the 1st quarter worth about $43,000. 90.05% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson Controls International

In other news, VP Anuruddha Rathninde sold 15,000 shares of Johnson Controls International stock in a transaction dated 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 directly owned 42,574 shares of the company's stock, valued at $4,390,656.62. The trade was a 26.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 sale, the vice president owned 140,881 shares in the company, valued at approximately $14,607,950.89. The trade was 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 sold 19,266 shares of company stock worth $1,986,931. 0.54% of the stock is owned by corporate insiders.

Johnson Controls International Price Performance

JCI stock opened at $105.93 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The business has a 50 day simple moving average of $105.54 and a 200-day simple moving average of $92.18. Johnson Controls International plc has a twelve month low of $67.68 and a twelve month high of $112.63. The company has a market capitalization of $69.32 billion, a P/E ratio of 31.43, a PEG ratio of 1.90 and a beta of 1.30.

Johnson Controls International (NYSE:JCI - Get Free Report) last released 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. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. The firm had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.99 billion. As a group, equities analysts anticipate that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International announced that its Board of Directors has authorized a share buyback plan on Friday, June 13th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, June 23rd were paid 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 (DPR) is presently 43.92%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on JCI. UBS Group restated a "buy" rating and issued a $116.00 price target (up from $103.00) on shares of Johnson Controls International in a report on Thursday, May 22nd. Vertical Research raised shares of Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 target price for the company in a report on Thursday, May 8th. Wells Fargo & Company lifted their target price on shares of Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Morgan Stanley boosted their price target on shares of Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Citigroup lifted their target price on shares of Johnson Controls International from $110.00 to $112.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Johnson Controls International currently has an average rating of "Hold" and a consensus 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.

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