Public Employees Retirement System of Ohio Acquires 15,342 Shares of Johnson Controls International plc $JCI

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Johnson Controls International plc by 5.5%, acquiring an additional 15,342 shares, bringing its total holdings to 296,023 shares valued at $31.3 million.
• Several institutional investors have also expanded their positions in the company, with Vanguard Group Inc. holding the largest share at over 68 million shares valued at $5.48 billion.
• Johnson Controls has announced a quarterly dividend increase to $0.40 per share, reflecting an annualized payout of $1.60, while also implementing a $9 billion share repurchase plan to buy back up to 13.4% of its shares.

Public Employees Retirement System of Ohio lifted its holdings in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 296,023 shares of the company's stock after purchasing an additional 15,342 shares during the period. Public Employees Retirement System of Ohio's holdings in Johnson Controls International were worth $31,266,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Johnson Controls International by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 68,444,686 shares of the company's stock valued at $5,483,104,000 after purchasing an additional 288,576 shares during the last quarter. Raymond James Financial Inc. grew its holdings in shares of Johnson Controls International by 2.5% during the 1st quarter. Raymond James Financial Inc. now owns 7,378,331 shares of the company's stock valued at $591,078,000 after purchasing an additional 178,169 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Johnson Controls International by 3.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,354,069 shares of the company's stock valued at $509,024,000 after purchasing an additional 185,476 shares during the last quarter. Amundi grew its holdings in shares of Johnson Controls International by 22.2% during the 1st quarter. Amundi now owns 4,731,377 shares of the company's stock valued at $366,412,000 after purchasing an additional 860,899 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Johnson Controls International by 6.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,178,516 shares of the company's stock valued at $254,631,000 after purchasing an additional 198,817 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Insider Transactions at Johnson Controls International

In related news, VP Daniel C. Mcconeghy sold 5,917 shares of Johnson Controls International stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $105.73, for a total transaction of $625,604.41. Following the completion of the transaction, the vice president directly owned 25,005 shares of the company's stock, valued at $2,643,778.65. This trade represents a 19.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $105.06, for a total transaction of $149,395.32. Following the transaction, the vice president directly owned 139,459 shares of the company's stock, valued at approximately $14,651,562.54. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,183 shares of company stock valued at $1,071,501. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JCI has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of Johnson Controls International from $100.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Oppenheimer lowered shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a report on Friday, June 20th. The Goldman Sachs Group raised their price target on shares of Johnson Controls International from $119.00 to $124.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Morgan Stanley raised their price target on shares of Johnson Controls International from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Finally, Royal Bank Of Canada raised their price target on shares of Johnson Controls International from $112.00 to $114.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 30th. Ten analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $107.58.

Johnson Controls International Trading Down 1.7%

Shares of JCI opened at $106.50 on Thursday. The firm's 50-day moving average price is $106.97 and its 200-day moving average price is $96.90. The firm has a market capitalization of $69.69 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 1.93 and a beta of 1.31. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. Johnson Controls International plc has a 1-year low of $68.03 and a 1-year high of $112.63.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.06. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates 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. Sell-side analysts anticipate that Johnson Controls International plc will post 3.64 EPS for the current year.

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

Johnson Controls International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from Johnson Controls International's previous quarterly dividend of $0.37. Johnson Controls International's payout ratio is presently 47.48%.

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.

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