State of Alaska Department of Revenue Cuts Holdings in Johnson Controls International plc $JCI

Key Points

• The State of Alaska Department of Revenue reduced its stake in Johnson Controls International plc by 4.4%, selling 3,420 shares during the second quarter, bringing its total ownership to $7.8 million.
• Johnson Controls announced a quarterly dividend increase to $0.40 per share, up from $0.37, with the ex-dividend date set for September 22nd.
• Insider trades included Vice President Daniel C. Mcconeghy selling 5,917 shares, leading to a 19.14% decrease in his ownership, while overall, insiders sold a total of 10,183 shares worth over $1 million in the past 90 days.

State of Alaska Department of Revenue trimmed its stake in Johnson Controls International plc (NYSE:JCI - Free Report) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,896 shares of the company's stock after selling 3,420 shares during the period. State of Alaska Department of Revenue's holdings in Johnson Controls International were worth $7,804,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Vision Capital Management Inc. purchased a new position in Johnson Controls International during the 2nd quarter valued at $204,000. Bank Pictet & Cie Europe AG grew its holdings in shares of Johnson Controls International by 2.0% in the second quarter. Bank Pictet & Cie Europe AG now owns 99,944 shares of the company's stock worth $10,556,000 after purchasing an additional 1,989 shares during the last quarter. Dakota Wealth Management grew its holdings in shares of Johnson Controls International by 17.3% in the second quarter. Dakota Wealth Management now owns 18,364 shares of the company's stock worth $1,940,000 after purchasing an additional 2,702 shares during the last quarter. Harrell Investment Partners LLC lifted its holdings in Johnson Controls International by 9.8% during the 2nd quarter. Harrell Investment Partners LLC now owns 51,036 shares of the company's stock valued at $5,390,000 after buying an additional 4,539 shares in the last quarter. Finally, Legacy Solutions LLC boosted its position in Johnson Controls International by 7.8% in the 2nd quarter. Legacy Solutions LLC now owns 3,254 shares of the company's stock valued at $344,000 after buying an additional 235 shares during the period. Institutional investors own 90.05% of the company's stock.

Insider Activity at Johnson Controls International

In other news, VP Daniel C. Mcconeghy sold 5,917 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $105.73, for a total value of $625,604.41. Following the completion of the sale, the vice president owned 25,005 shares in the company, valued at $2,643,778.65. This represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Nathan D. Manning sold 1,422 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $105.06, for a total transaction of $149,395.32. Following the completion of the sale, the vice president owned 139,459 shares of the company's stock, valued at $14,651,562.54. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,183 shares of company stock worth $1,071,501 over the last 90 days. 0.54% of the stock is owned by company insiders.

Johnson Controls International Price Performance

Shares of NYSE JCI opened at $107.08 on Friday. The stock has a market capitalization of $70.07 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 1.90 and a beta of 1.31. The firm's 50 day simple moving average is $106.86 and its 200-day simple moving average is $97.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.81. Johnson Controls International plc has a 12 month low of $68.03 and a 12 month high of $112.63.

Johnson Controls International (NYSE:JCI - Get Free Report) last posted its 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 company 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. Analysts expect that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International announced that its board has authorized a share repurchase plan on Friday, June 13th that authorizes the company to buyback $9.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 13.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Johnson Controls International Increases Dividend

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

Analyst Ratings Changes

JCI has been the topic of a number of research reports. Oppenheimer lowered shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Wells Fargo & Company lifted their target price on Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Citigroup upped their target price on Johnson Controls International from $110.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Zacks Research upgraded Johnson Controls International to a "hold" rating in a report on Monday, August 11th. Finally, The Goldman Sachs Group increased their target price 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. Nine equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Johnson Controls International presently has a consensus rating of "Hold" and an average price target of $108.28.

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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