Reaves W H & Co. Inc. Acquires 7,234 Shares of Johnson Controls International plc (NYSE:JCI)

Key Points

• Reaves W H & Co. Inc. increased its stake in Johnson Controls International plc by 16.9%, acquiring 7,234 additional shares, bringing their total holdings to 49,983 shares valued at approximately $4 million.
• Johnson Controls International also announced a quarterly dividend of $0.37 per share, reflecting an annualized payout of $1.48 and a dividend yield of 1.4%.
• Equities analysts have mixed sentiments towards Johnson Controls, with UBS increasing their target price for the stock to $116, while Oppenheimer downgraded it from "outperform" to "market perform."

Reaves W H & Co. Inc. boosted its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,983 shares of the company's stock after purchasing an additional 7,234 shares during the quarter. Reaves W H & Co. Inc.'s holdings in Johnson Controls International were worth $4,004,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of JCI. Accent Capital Management LLC purchased a new position in Johnson Controls International during the 1st quarter worth $26,000. Cornerstone Planning Group LLC boosted its holdings in Johnson Controls International by 74.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock worth $28,000 after acquiring an additional 155 shares during the last quarter. Community Bank N.A. purchased a new position in Johnson Controls International during the 1st quarter worth $32,000. Rossby Financial LCC purchased a new position in Johnson Controls International during the 1st quarter worth $42,000. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in Johnson Controls International during the 1st quarter worth $43,000. Institutional investors and hedge funds own 90.05% of the company's stock.

Johnson Controls International Stock Performance

NYSE JCI traded up $1.09 during trading on Friday, hitting $105.40. 6,227,770 shares of the company's stock traded hands, compared to its average volume of 4,666,734. The stock has a market capitalization of $68.97 billion, a price-to-earnings ratio of 31.28, a PEG ratio of 1.87 and a beta of 1.30. Johnson Controls International plc has a 12-month low of $66.40 and a 12-month high of $112.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.81 and a current ratio of 0.96. The business has a 50 day moving average of $105.26 and a 200-day moving average of $91.68.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced 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. 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%. As a group, equities research analysts anticipate that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

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

Johnson Controls International declared that its board has authorized a stock buyback program on Friday, June 13th that authorizes the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on JCI shares. Robert W. Baird lifted their price objective on shares of Johnson Controls International from $90.00 to $110.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Oppenheimer downgraded shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a report on Friday, June 20th. Morgan Stanley lifted their price objective on shares of Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Barclays boosted their price target on shares of Johnson Controls International from $100.00 to $101.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $120.00 price target on shares of Johnson Controls International in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Johnson Controls International presently has an average rating of "Hold" and a consensus target price of $105.17.

Insider Activity at Johnson Controls International

In related news, VP Anuruddha Rathninde sold 15,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the completion of the transaction, the vice president owned 42,574 shares of the company's stock, valued at approximately $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $103.69, for a total transaction of $147,447.18. Following the transaction, the vice president directly owned 140,881 shares of the company's stock, valued at approximately $14,607,950.89. This represents a 1.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,266 shares of company stock valued at $1,986,931. 0.54% of the stock is owned by corporate insiders.

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.