Nathan D. Manning Sells 1,422 Shares of Johnson Controls International plc (NYSE:JCI) Stock

Key Points

• Nathan D. Manning, Vice President of Johnson Controls International, sold 1,422 shares at an average price of $103.69, equating to a total of $147,447, which resulted in a 1% decrease in their position.
• Johnson Controls International reported a quarterly EPS of $1.05, exceeding analyst estimates of $0.99, with revenue of $6.05 billion surpassing projections of $5.99 billion.
• The company has initiated a $9.00 billion share repurchase plan that will allow it to buy back up to 13.4% of its stock, indicating confidence in its value from the board of directors.

Johnson Controls International plc (NYSE:JCI - Get Free Report) 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 completion of the transaction, the vice president directly owned 140,881 shares in the company, valued at $14,607,950.89. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Johnson Controls International Price Performance

Shares of NYSE:JCI traded up $1.26 during trading on Friday, reaching $105.57. 1,222,703 shares of the company traded hands, compared to its average volume of 4,658,809. The firm has a market capitalization of $69.47 billion, a PE ratio of 31.35, a PEG ratio of 1.87 and a beta of 1.30. Johnson Controls International plc has a 52 week low of $66.40 and a 52 week high of $112.63. 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 company's 50 day moving average is $105.17 and its two-hundred day moving average is $91.52.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.99 billion. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. As a group, sell-side analysts predict that Johnson Controls International plc will post 3.64 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Monday, June 23rd were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, June 23rd. Johnson Controls International's dividend payout ratio is currently 43.92%.

Johnson Controls International announced that its Board of Directors has approved a stock 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 buy up to 13.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on JCI. JPMorgan Chase & Co. lifted their price target on Johnson Controls International from $81.00 to $98.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Oppenheimer lowered shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Citigroup boosted their price objective on shares of Johnson Controls International from $110.00 to $112.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Barclays raised 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. Finally, Wells Fargo & Company raised their target price on Johnson Controls International from $100.00 to $130.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $105.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Johnson Controls International in the 2nd quarter valued at about $28,000. Truvestments Capital LLC increased its stake in Johnson Controls International by 425.0% in the first quarter. Truvestments Capital LLC now owns 315 shares of the company's stock valued at $25,000 after acquiring an additional 255 shares during the period. Accent Capital Management LLC bought a new position in Johnson Controls International in the 1st quarter worth approximately $26,000. Hilltop National Bank acquired a new position in Johnson Controls International during the second quarter valued at approximately $35,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Johnson Controls International by 74.5% during the first quarter. Cornerstone Planning Group LLC now owns 363 shares of the company's stock worth $28,000 after purchasing an additional 155 shares during the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

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.