Northern Trust Corp Lowers Stake in Johnson Controls International plc $JCI

Key Points

• Northern Trust Corp has reduced its stake in Johnson Controls International by 1.1% to approximately $530 million, owning about 1.01% of the company after selling over 72,000 shares.
• Analysts have recently upgraded the stock, with multiple firms raising target prices, and Johnson Controls currently holds a consensus rating of "Hold" with an average price target of $105.17.
• The company also announced a $9 billion share buyback plan, indicating management's belief that the stock is undervalued, alongside a recent dividend payout of $0.37 per share.

Northern Trust Corp lowered its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 1.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,618,496 shares of the company's stock after selling 72,285 shares during the period. Northern Trust Corp owned approximately 1.01% of Johnson Controls International worth $530,208,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in JCI. Vanguard Group Inc. grew its position in Johnson Controls International by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 68,444,686 shares of the company's stock worth $5,483,104,000 after purchasing an additional 288,576 shares in the last quarter. Raymond James Financial Inc. grew its position in Johnson Controls International by 2.5% in the 1st quarter. Raymond James Financial Inc. now owns 7,378,331 shares of the company's stock worth $591,078,000 after purchasing an additional 178,169 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Johnson Controls International by 14.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,168,593 shares of the company's stock worth $486,887,000 after purchasing an additional 777,031 shares in the last quarter. American Century Companies Inc. grew its position in Johnson Controls International by 12.8% in the 1st quarter. American Century Companies Inc. now owns 3,075,629 shares of the company's stock worth $246,389,000 after purchasing an additional 349,209 shares in the last quarter. Finally, Deutsche Bank AG grew its position in Johnson Controls International by 13.1% in the 1st quarter. Deutsche Bank AG now owns 2,741,147 shares of the company's stock worth $219,593,000 after purchasing an additional 317,266 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Activity at Johnson Controls International

In other Johnson Controls International news, VP Nathan D. Manning sold 1,422 shares of the stock in a transaction that occurred on 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 directly owned 140,881 shares in the company, valued at $14,607,950.89. This represents a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Anuruddha Rathninde sold 15,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the completion of the sale, the vice president owned 42,574 shares in the company, valued at $4,390,656.62. This represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,266 shares of company stock worth $1,986,931 over the last quarter. Corporate insiders own 0.54% of the company's stock.

Johnson Controls International Stock Performance

Shares of JCI stock traded up $2.3630 during trading on Friday, reaching $107.1130. 5,090,912 shares of the company's stock traded hands, compared to its average volume of 5,762,699. The company has a market capitalization of $70.09 billion, a P/E ratio of 31.78, a PEG ratio of 1.91 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. The firm's 50-day moving average is $105.86 and its 200 day moving average is $93.58. Johnson Controls International plc has a 1 year low of $67.68 and a 1 year high of $112.63.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.06. The company had revenue of $6.05 billion for the quarter, compared to analysts' expectations of $5.99 billion. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. Equities research analysts expect that Johnson Controls International plc will post 3.64 EPS 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 repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, June 23rd were paid a $0.37 dividend. The ex-dividend date was Monday, June 23rd. This represents a $1.48 annualized dividend and a yield of 1.4%. Johnson Controls International's dividend payout ratio is currently 43.92%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on JCI shares. Royal Bank Of Canada upped their price objective on shares of Johnson Controls International from $112.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Morgan Stanley upped their price objective on shares of Johnson Controls International from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday. UBS Group reaffirmed a "buy" rating and issued a $116.00 price objective (up from $103.00) on shares of Johnson Controls International in a research 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 research report on Thursday, May 8th. Finally, Robert W. Baird increased their target price on shares of Johnson Controls International from $90.00 to $110.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $105.72.

About Johnson Controls International

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.