USA Financial Formulas Purchases New Position in Johnson Controls International plc (NYSE:JCI)

USA Financial Formulas bought a new stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,931 shares of the company's stock, valued at approximately $235,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new stake in Johnson Controls International during the 4th quarter valued at about $222,000. Stratos Wealth Partners LTD. grew its stake in Johnson Controls International by 6.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 7,139 shares of the company's stock valued at $564,000 after purchasing an additional 433 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in Johnson Controls International by 6.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 5,784 shares of the company's stock valued at $457,000 after purchasing an additional 348 shares during the last quarter. Empowered Funds LLC grew its stake in Johnson Controls International by 3.1% during the 4th quarter. Empowered Funds LLC now owns 43,922 shares of the company's stock valued at $3,467,000 after purchasing an additional 1,329 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in Johnson Controls International by 24.0% during the 4th quarter. Summit Trail Advisors LLC now owns 5,821 shares of the company's stock valued at $462,000 after purchasing an additional 1,126 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Johnson Controls International

In other news, VP Nathan D. Manning sold 1,422 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $79.72, for a total value of $113,361.84. Following the completion of the sale, the vice president now directly owns 145,502 shares in the company, valued at $11,599,419.44. This represents a 0.97% 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 Anuruddha Rathninde sold 15,000 shares of the company'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 value of $1,546,950.00. Following the completion of the sale, the vice president now owns 42,574 shares of the company's stock, valued at $4,390,656.62. This trade represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,555 shares of company stock valued at $13,669,414 over the last quarter. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

JCI has been the subject of several analyst reports. Citigroup decreased their price objective on Johnson Controls International from $95.00 to $85.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Oppenheimer boosted their price objective on Johnson Controls International from $90.00 to $96.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Royal Bank of Canada boosted their price objective on Johnson Controls International from $82.00 to $98.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Barclays boosted their price objective on Johnson Controls International from $85.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.88.

Johnson Controls International Price Performance

NYSE JCI traded down $1.80 during trading hours on Friday, reaching $101.80. The company's stock had a trading volume of 5,424,562 shares, compared to its average volume of 4,300,896. The company's 50-day moving average is $90.70 and its two-hundred day moving average is $84.86. Johnson Controls International plc has a 1-year low of $64.31 and a 1-year high of $104.15. The firm has a market capitalization of $66.99 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 1.96 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.02 and a quick ratio of 0.86.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. Johnson Controls International had a return on equity of 15.11% and a net margin of 6.83%. The business had revenue of $5.68 billion during the quarter, compared to analysts' expectations of $5.64 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The business's revenue was up 1.4% compared to the same quarter last year. On average, equities analysts predict that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International announced that its board has approved a share buyback program on Friday, June 13th that permits the company to buyback $9.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Johnson Controls International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 23rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.45%. Johnson Controls International's payout ratio is currently 39.47%.

About Johnson Controls International

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.