Stoneridge Investment Partners LLC Purchases New Position in Johnson Controls International plc $JCI

Key Points

• Stoneridge Investment Partners LLC invested approximately $569,000 in Johnson Controls International plc by purchasing 7,102 shares in the first quarter.
• Johnson Controls recently announced a share buyback plan allowing the company to repurchase up to $9.00 billion in shares, indicating management's belief that stock is undervalued.
• The company declared a quarterly dividend of $0.37 per share, reflecting an annualized payout of $1.48 and a yield of 1.4%.

Stoneridge Investment Partners LLC purchased a new position in shares of Johnson Controls International plc (NYSE:JCI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,102 shares of the company's stock, valued at approximately $569,000.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Johnson Controls International by 0.4% during the first quarter. Vanguard Group Inc. now owns 68,444,686 shares of the company's stock worth $5,483,104,000 after buying an additional 288,576 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Johnson Controls International by 2.5% during the first quarter. Raymond James Financial Inc. now owns 7,378,331 shares of the company's stock worth $591,078,000 after buying an additional 178,169 shares in the last quarter. Northern Trust Corp grew its holdings in Johnson Controls International by 18.1% during the 4th quarter. Northern Trust Corp now owns 6,690,781 shares of the company's stock worth $528,103,000 after acquiring an additional 1,026,623 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Johnson Controls International by 14.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,168,593 shares of the company's stock worth $486,887,000 after acquiring an additional 777,031 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Johnson Controls International by 12.8% during the 1st quarter. American Century Companies Inc. now owns 3,075,629 shares of the company's stock worth $246,389,000 after acquiring an additional 349,209 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Anuruddha Rathninde sold 15,000 shares of the firm'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 completion of the sale, the vice president directly owned 42,574 shares in the company, valued at $4,390,656.62. This trade represents a 26.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Nathan D. Manning sold 1,422 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $103.69, for a total value of $147,447.18. Following the completion of the sale, the vice president owned 140,881 shares of the company's stock, valued at approximately $14,607,950.89. This represents a 1.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,266 shares of company stock valued at $1,986,931. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on JCI shares. Barclays boosted their target price 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. Zacks Research upgraded Johnson Controls International to a "hold" rating in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft upgraded Johnson Controls International from a "hold" rating to a "buy" rating and increased their price objective for the company from $101.00 to $112.00 in a report on Monday, May 12th. Morgan Stanley increased their price objective on Johnson Controls International from $115.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Robert W. Baird increased their price objective on Johnson Controls International from $90.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $105.72.

Johnson Controls International Trading Down 0.0%

Johnson Controls International stock traded down $0.04 during trading hours on Monday, reaching $107.22. 1,204,516 shares of the company's stock were exchanged, compared to its average volume of 4,745,785. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.50. The firm's 50 day simple moving average is $105.86 and its 200 day simple moving average is $93.62. Johnson Controls International plc has a twelve month low of $67.68 and a twelve month high of $112.63. The firm has a market capitalization of $70.16 billion, a PE ratio of 31.83, a PEG ratio of 1.91 and a beta of 1.30.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. Research analysts predict that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International declared that its Board of Directors has authorized a stock buyback plan on Friday, June 13th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board 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. Stockholders of record on Monday, June 23rd were paid a $0.37 dividend. The ex-dividend date was Monday, June 23rd. This represents a $1.48 annualized dividend and a dividend yield of 1.4%. Johnson Controls International's dividend payout ratio (DPR) is currently 43.92%.

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.