Perbak Capital Partners LLP Decreases Stock Position in Johnson Controls International plc $JCI

Key Points

• Perbak Capital Partners LLP reduced its stake in Johnson Controls International plc by 70.3%, owning 3,379 shares worth approximately $271,000 after selling 7,992 shares during the first quarter.
• Despite Perbak's reduction, several other institutional investors, like TIAA Trust National Association and Activest Wealth Management, have increased their holdings in Johnson Controls, highlighting continued interest in the company.
• Following recent earnings results that exceeded expectations, Johnson Controls International announced a $9.00 billion share buyback plan and declared a quarterly dividend of $0.37 per share, reflecting confidence in the company's valuation.

Perbak Capital Partners LLP cut its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 70.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,379 shares of the company's stock after selling 7,992 shares during the period. Perbak Capital Partners LLP's holdings in Johnson Controls International were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. TIAA Trust National Association raised its stake in Johnson Controls International by 1.0% in the first quarter. TIAA Trust National Association now owns 11,339 shares of the company's stock valued at $908,000 after buying an additional 115 shares in the last quarter. Strategic Blueprint LLC raised its stake in Johnson Controls International by 4.3% in the first quarter. Strategic Blueprint LLC now owns 2,980 shares of the company's stock valued at $239,000 after buying an additional 123 shares in the last quarter. HighPoint Advisor Group LLC raised its stake in Johnson Controls International by 1.4% in the first quarter. HighPoint Advisor Group LLC now owns 8,976 shares of the company's stock valued at $739,000 after buying an additional 124 shares in the last quarter. Sfmg LLC raised its stake in Johnson Controls International by 4.5% in the first quarter. Sfmg LLC now owns 2,913 shares of the company's stock valued at $233,000 after buying an additional 125 shares in the last quarter. Finally, Activest Wealth Management raised its stake in Johnson Controls International by 56.4% in the first quarter. Activest Wealth Management now owns 369 shares of the company's stock valued at $30,000 after buying an additional 133 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Johnson Controls International news, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction that occurred on Friday, August 1st. The stock was 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 of the company's stock, valued at approximately $14,607,950.89. The trade was a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Anuruddha Rathninde sold 15,000 shares of Johnson Controls International stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $103.13, for a total value of $1,546,950.00. Following the completion of the sale, the vice president directly owned 42,574 shares in the company, valued at $4,390,656.62. This represents a 26.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,844 shares of company stock worth $1,843,451 in the last 90 days. 0.54% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Vertical Research upgraded Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price target on the stock in a research note on Thursday, May 8th. Robert W. Baird raised their price target on Johnson Controls International from $90.00 to $110.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Oppenheimer cut Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. The Goldman Sachs Group lifted their target price on Johnson Controls International from $103.00 to $116.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $120.00 target price on shares of Johnson Controls International in a research report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Johnson Controls International currently has a consensus rating of "Hold" and a consensus price target of $105.72.

Johnson Controls International Stock Down 0.9%

JCI opened at $105.94 on Wednesday. The business's 50-day simple moving average is $106.42 and its 200-day simple moving average is $94.49. 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 one year low of $67.68 and a one year high of $112.63. The stock has a market capitalization of $69.33 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 1.90 and a beta of 1.31.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results 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%. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. 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 allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 13.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Johnson Controls International Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.