Raiffeisen Bank International AG Lowers Holdings in Johnson Controls International plc (NYSE:JCI)

Key Points

• Raiffeisen Bank International AG reduced its stake in Johnson Controls International plc by 5.2%, selling 51,561 shares, leaving it with approximately 941,928 shares worth $75,062,000.
• Insider George Oliver sold 100,000 shares of Johnson Controls, decreasing his position by 9.96%, while other executives also engaged in share sales.
• Johnson Controls recently approved a $9 billion stock repurchase program and declared a quarterly dividend of $0.37 per share, reflecting confidence in the company's stock value.

Raiffeisen Bank International AG cut its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 941,928 shares of the company's stock after selling 51,561 shares during the period. Johnson Controls International accounts for approximately 1.2% of Raiffeisen Bank International AG's portfolio, making the stock its 16th largest holding. Raiffeisen Bank International AG owned approximately 0.14% of Johnson Controls International worth $75,062,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its position in shares of Johnson Controls International by 74.5% in the first quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock worth $28,000 after purchasing an additional 155 shares during the last quarter. Community Bank N.A. bought a new position in shares of Johnson Controls International in the first quarter worth approximately $32,000. Rossby Financial LCC bought a new position in shares of Johnson Controls International in the first quarter worth approximately $42,000. Bartlett & CO. Wealth Management LLC bought a new position in shares of Johnson Controls International in the first quarter worth approximately $43,000. Finally, Heck Capital Advisors LLC bought a new position in shares of Johnson Controls International in the fourth quarter worth approximately $48,000. 90.05% of the stock is currently owned by institutional investors.

Insider Transactions at Johnson Controls International

In related news, VP Anuruddha Rathninde sold 15,000 shares of Johnson Controls International 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 sale, the vice president owned 42,574 shares of the company's stock, valued at approximately $4,390,656.62. This trade represents a 26.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marc Vandiepenbeeck sold 28,289 shares of Johnson Controls International stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $90.92, for a total value of $2,572,035.88. Following the completion of the sale, the chief financial officer directly owned 147,673 shares in the company, valued at approximately $13,426,429.16. The trade was a 16.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,555 shares of company stock valued at $13,728,967. Company insiders own 0.54% of the company's stock.

Johnson Controls International Trading Down 2.1%

JCI stock traded down $2.20 on Tuesday, reaching $104.28. The company's stock had a trading volume of 1,057,756 shares, compared to its average volume of 4,686,903. The business has a fifty day simple moving average of $104.99 and a two-hundred day simple moving average of $91.17. Johnson Controls International plc has a 12-month low of $65.61 and a 12-month high of $112.63. The firm has a market cap of $68.62 billion, a PE ratio of 30.97, a PEG ratio of 1.91 and a beta of 1.30. 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 issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share 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 firm had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.99 billion. As a group, research analysts forecast that Johnson Controls International plc will post 3.64 EPS for the current year.

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

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders 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 of this dividend was Monday, June 23rd. Johnson Controls International's dividend payout ratio (DPR) is presently 43.92%.

Analyst Upgrades and Downgrades

JCI has been the topic of several research analyst reports. Barclays upped their price objective on shares of Johnson Controls International from $100.00 to $101.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Vertical Research raised Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 target price for the company in a research note on Thursday, May 8th. Royal Bank Of Canada upped their target price on Johnson Controls International from $112.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Robert W. Baird upped their target price on Johnson Controls International from $90.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $120.00 target price on shares of Johnson Controls International in a research note on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Johnson Controls International presently has a consensus rating of "Hold" and an average price target of $105.17.

Johnson Controls International 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.