Nemes Rush Group LLC Increases Holdings in Johnson Controls International plc (NYSE:JCI)

Key Points

• Nemes Rush Group LLC has raised its stock position in Johnson Controls International by 2.9% in the first quarter, increasing its holdings to 159,886 shares, valued at approximately $12.8 million.
• Johnson Controls reported a quarterly earnings of $0.82 per share, surpassing analyst estimates and showing a 1.4% increase in year-over-year revenue.
• The company has authorized a $9 billion stock repurchase plan, indicating a belief that its stock is undervalued.

Nemes Rush Group LLC boosted its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 2.9% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,886 shares of the company's stock after acquiring an additional 4,458 shares during the quarter. Johnson Controls International accounts for about 1.6% of Nemes Rush Group LLC's investment portfolio, making the stock its 18th largest position. Nemes Rush Group LLC's holdings in Johnson Controls International were worth $12,808,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC boosted its holdings in Johnson Controls International by 74.5% during the 1st 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 period. Community Bank N.A. purchased a new stake in Johnson Controls International during the 1st quarter valued at about $32,000. Rossby Financial LCC purchased a new stake in Johnson Controls International in the 1st quarter worth approximately $42,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Johnson Controls International in the 1st quarter worth approximately $43,000. Finally, Heck Capital Advisors LLC purchased a new stake in Johnson Controls International in the 4th quarter worth approximately $48,000. 90.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on JCI shares. Oppenheimer cut Johnson Controls International from an "outperform" rating to a "market perform" rating in a report on Friday, June 20th. Robert W. Baird increased their price objective on Johnson Controls International from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. JPMorgan Chase & Co. raised their target price 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. Citigroup raised their target price on Johnson Controls International from $110.00 to $112.00 and gave the company a "neutral" rating in a research note on Wednesday. Finally, Barclays raised their price objective on Johnson Controls International from $100.00 to $101.00 and gave the company an "equal weight" rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Johnson Controls International has an average rating of "Hold" and an average price target of $105.17.

Insider Transactions at Johnson Controls International

In other Johnson Controls International news, VP Nathan D. Manning sold 1,422 shares of the business's stock in a transaction that occurred 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 sale, the vice president directly owned 141,860 shares of the company's stock, valued at $14,869,765.20. The trade was a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Anuruddha Rathninde sold 15,000 shares of the business's stock in a transaction that occurred on 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 sale, the vice president directly owned 42,574 shares in the company, valued at $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,133 shares of company stock valued at $13,581,520. 0.54% of the stock is owned by company insiders.

Johnson Controls International Price Performance

Shares of Johnson Controls International stock traded up $1.63 during trading hours on Thursday, hitting $105.65. The company's stock had a trading volume of 3,557,239 shares, compared to its average volume of 4,699,611. The business has a 50 day moving average price of $104.51 and a two-hundred day moving average price of $90.49. Johnson Controls International plc has a 12-month low of $64.31 and a 12-month high of $112.63. The company has a market cap of $69.52 billion, a PE ratio of 31.38, a PEG ratio of 1.85 and a beta of 1.31. 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 (NYSE:JCI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, beating 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 business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.99 billion. Analysts expect that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Monday, June 23rd were issued a $0.37 dividend. The ex-dividend date was Monday, June 23rd. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. Johnson Controls International's dividend payout ratio (DPR) is 39.47%.

Johnson Controls International declared that its board has approved a share repurchase plan on Friday, June 13th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows 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 board believes its stock is undervalued.

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.