Johnson Controls International plc $JCI Stock Holdings Trimmed by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has reduced its stake in Johnson Controls International plc by 7.2%, now owning approximately $1.42 billion worth of shares.
• The company announced a stock buyback plan allowing it to repurchase up to $9 billion in shares, indicating that the board believes the stock may be undervalued.
• Johnson Controls reported a quarterly earnings per share (EPS) of $1.05, exceeding analysts' expectations of $0.99, along with revenue of $6.05 billion for the quarter.

Wellington Management Group LLP lessened its stake in shares of Johnson Controls International plc (NYSE:JCI - Free Report) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,715,278 shares of the company's stock after selling 1,384,042 shares during the quarter. Wellington Management Group LLP owned about 2.69% of Johnson Controls International worth $1,419,171,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Accent Capital Management LLC acquired a new stake in Johnson Controls International during the 1st quarter valued at $26,000. Cornerstone Planning Group LLC grew 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 valued at $28,000 after buying an additional 155 shares during the last quarter. Community Bank N.A. acquired a new stake in Johnson Controls International during the 1st quarter valued at $32,000. Rossby Financial LCC acquired a new stake in Johnson Controls International during the 1st quarter valued at $42,000. Finally, Bartlett & CO. Wealth Management LLC acquired a new stake in Johnson Controls International during the 1st quarter valued at $43,000. Institutional investors and hedge funds own 90.05% of the company's stock.

Insider Transactions at Johnson Controls International

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on JCI shares. Oppenheimer downgraded Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Wells Fargo & Company increased their price objective on shares of Johnson Controls International from $100.00 to $130.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Johnson Controls International from a "hold" rating to a "buy" rating and increased their price objective for the stock from $101.00 to $112.00 in a report on Monday, May 12th. Morgan Stanley increased their price objective on shares of Johnson Controls International from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Vertical Research upgraded shares of Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price objective on the stock in a report on Thursday, May 8th. Nine investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $105.72.

Johnson Controls International Trading Up 2.3%

Johnson Controls International stock traded up $2.3630 during midday trading on Friday, reaching $107.1130. The stock had a trading volume of 5,090,912 shares, compared to its average volume of 5,762,699. Johnson Controls International plc has a twelve month low of $67.68 and a twelve month high of $112.63. The stock has a market capitalization of $70.09 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 1.86 and a beta of 1.30. 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 stock's 50-day simple moving average is $105.86 and its 200 day simple moving average is $93.53.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.06. The company 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%. 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 of Directors has initiated a share buyback program on Friday, June 13th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 13.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Johnson Controls International Dividend Announcement

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