TD Asset Management Inc Sells 448,911 Shares of Johnson Controls International plc (NYSE:JCI)

Key Points

• TD Asset Management Inc has significantly reduced its stake in Johnson Controls International by 63.9%, selling 448,911 shares and now holding 253,947 shares valued at approximately $20.34 million.
• Several brokerages have raised their price targets for Johnson Controls, with Wells Fargo increasing it from $100.00 to $130.00, while the consensus price target is now $104.11.
• The company recently declared a quarterly dividend of $0.37 per share, with a current dividend yield of 1.43% and a buyback program allowing repurchases of up to $9.00 billion in shares.

TD Asset Management Inc cut its holdings in Johnson Controls International plc (NYSE:JCI - Free Report) by 63.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,947 shares of the company's stock after selling 448,911 shares during the quarter. TD Asset Management Inc's holdings in Johnson Controls International were worth $20,344,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. raised its holdings in Johnson Controls International by 13.2% in the fourth quarter. Invesco Ltd. now owns 18,407,597 shares of the company's stock worth $1,452,912,000 after purchasing an additional 2,150,573 shares during the period. Geode Capital Management LLC increased its stake in Johnson Controls International by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 13,818,777 shares of the company's stock valued at $1,087,670,000 after buying an additional 343,517 shares during the last quarter. Northern Trust Corp increased its stake in Johnson Controls International by 18.1% in the 4th quarter. Northern Trust Corp now owns 6,690,781 shares of the company's stock valued at $528,103,000 after buying an additional 1,026,623 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Johnson Controls International by 14.4% in 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 valued at $486,887,000 after buying an additional 777,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Johnson Controls International by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,988,674 shares of the company's stock worth $472,705,000 after purchasing an additional 59,001 shares during the last quarter. 90.05% of the stock is owned by institutional investors.

Johnson Controls International Trading Up 1.4%

Shares of Johnson Controls International stock traded up $1.48 during trading on Friday, reaching $106.48. The company's stock had a trading volume of 5,337,531 shares, compared to its average volume of 4,723,141. Johnson Controls International plc has a 52-week low of $64.31 and a 52-week high of $112.63. The company has a market cap of $70.07 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 1.88 and a beta of 1.30. The firm's 50-day moving average is $104.82 and its two-hundred day moving average is $90.85. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.50.

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 business had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.99 billion. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. On average, sell-side analysts anticipate that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, June 23rd were given 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 dividend payout ratio is presently 43.92%.

Johnson Controls International declared that its Board of Directors has approved a stock buyback program on Friday, June 13th that authorizes the company to repurchase $9.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

JCI has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Johnson Controls International from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Citigroup lifted their target price on shares of Johnson Controls International from $110.00 to $112.00 and gave the stock a "neutral" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised shares of Johnson Controls International from a "hold" rating to a "buy" rating and lifted their target price for the stock from $101.00 to $112.00 in a report on Monday, May 12th. Morgan Stanley boosted their price objective on shares of Johnson Controls International from $105.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of Johnson Controls International from $103.00 to $116.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $105.17.

Insider Activity

In other Johnson Controls International news, VP Anuruddha Rathninde sold 15,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $103.13, for a total value of $1,546,950.00. Following the completion of the transaction, the vice president directly owned 42,574 shares in the company, valued at approximately $4,390,656.62. This 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 the SEC website. Also, CFO Marc Vandiepenbeeck sold 28,289 shares of the company's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $90.92, for a total transaction of $2,572,035.88. Following the completion of the transaction, the chief financial officer owned 147,673 shares of the company's stock, valued at $13,426,429.16. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,133 shares of company stock worth $13,581,520. 0.54% of the stock is currently owned by corporate insiders.

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.