QRG Capital Management Inc. Sells 5,006 Shares of Johnson Controls International plc (NYSE:JCI)

QRG Capital Management Inc. lessened its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,557 shares of the company's stock after selling 5,006 shares during the period. QRG Capital Management Inc.'s holdings in Johnson Controls International were worth $10,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in JCI. Raymond James Financial Inc. bought a new position in Johnson Controls International during the 4th quarter worth $568,309,000. Norges Bank bought a new position in Johnson Controls International during the 4th quarter worth $560,549,000. Invesco Ltd. increased its stake in Johnson Controls International by 13.2% during the 4th quarter. Invesco Ltd. now owns 18,407,597 shares of the company's stock worth $1,452,912,000 after acquiring an additional 2,150,573 shares during the period. Amundi increased its stake in shares of Johnson Controls International by 76.7% in the 4th quarter. Amundi now owns 3,870,478 shares of the company's stock valued at $309,422,000 after purchasing an additional 1,680,431 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Johnson Controls International by 6.0% in the 4th quarter. Franklin Resources Inc. now owns 23,344,374 shares of the company's stock valued at $1,842,571,000 after purchasing an additional 1,325,500 shares during the last quarter. Institutional investors own 90.05% of the company's stock.

Wall Street Analysts Forecast Growth

JCI has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target 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. Deutsche Bank Aktiengesellschaft upgraded Johnson Controls International from a "hold" rating to a "buy" rating and lifted their price target for the company from $101.00 to $112.00 in a research note on Monday, May 12th. Barclays lifted their price target on Johnson Controls International from $85.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. UBS Group reiterated a "buy" rating and issued a $116.00 price target (up previously from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Finally, Citigroup decreased their price target on Johnson Controls International from $95.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Johnson Controls International has an average rating of "Moderate Buy" and a consensus price target of $97.88.

Johnson Controls International Trading Up 2.4%

Shares of JCI stock opened at $104.43 on Tuesday. The firm has a market capitalization of $68.72 billion, a P/E ratio of 39.86, a P/E/G ratio of 1.96 and a beta of 1.33. Johnson Controls International plc has a twelve month low of $64.31 and a twelve month high of $105.19. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The stock's fifty day simple moving average is $91.37 and its 200 day simple moving average is $85.02.

Johnson Controls International (NYSE:JCI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. Johnson Controls International had a return on equity of 15.11% and a net margin of 6.83%. The firm had revenue of $5.68 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business's revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Johnson Controls International plc will post 3.64 EPS for the current fiscal year.

Johnson Controls International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 23rd will be given a $0.37 dividend. The ex-dividend date is Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.42%. Johnson Controls International's dividend payout ratio (DPR) is presently 39.47%.

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

Insider Buying and Selling at Johnson Controls International

In other Johnson Controls International news, VP Anuruddha Rathninde sold 15,000 shares of the company's 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 sale, the vice president now owns 42,574 shares in the company, valued at approximately $4,390,656.62. The trade was a 26.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Nathan D. Manning sold 1,422 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $86.91, for a total value of $123,586.02. Following the completion of the sale, the vice president now owns 144,704 shares in the company, valued at $12,576,224.64. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,555 shares of company stock worth $13,669,414. Insiders own 0.54% of the company's stock.

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.

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