Sagespring Wealth Partners LLC Acquires 3,399 Shares of Johnson Controls International plc (NYSE:JCI)

Sagespring Wealth Partners LLC grew its holdings in Johnson Controls International plc (NYSE:JCI) by 21.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,943 shares of the company’s stock after acquiring an additional 3,399 shares during the period. Sagespring Wealth Partners LLC’s holdings in Johnson Controls International were worth $1,517,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Sowell Financial Services LLC bought a new stake in Johnson Controls International in the first quarter worth approximately $216,000. Mission Wealth Management LP grew its position in Johnson Controls International by 17.9% in the first quarter. Mission Wealth Management LP now owns 3,872 shares of the company’s stock worth $310,000 after acquiring an additional 587 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Johnson Controls International by 10.6% during the 1st quarter. Bank Pictet & Cie Europe AG now owns 97,955 shares of the company’s stock worth $7,847,000 after buying an additional 9,386 shares during the period. Trust Co. of Toledo NA OH boosted its holdings in shares of Johnson Controls International by 1.5% during the 1st quarter. Trust Co. of Toledo NA OH now owns 26,611 shares of the company’s stock worth $2,132,000 after buying an additional 393 shares during the period. Finally, Optas LLC boosted its holdings in shares of Johnson Controls International by 17.1% during the 1st quarter. Optas LLC now owns 4,343 shares of the company’s stock worth $348,000 after buying an additional 634 shares during the period. 90.05% of the stock is owned by institutional investors.

Johnson Controls International Trading Up 2.4%

Shares of JCI stock opened at $104.43 on Tuesday. Johnson Controls International plc has a 52-week low of $64.31 and a 52-week high of $105.19. The stock has a market cap of $68.72 billion, a price-to-earnings ratio of 39.86, 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 quick ratio of 0.86 and a current ratio of 1.02. The firm has a fifty day moving average of $91.37 and a 200-day moving average of $85.02.

Johnson Controls International (NYSE:JCI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Johnson Controls International had a net margin of 6.83% and a return on equity of 15.11%. The company 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 company posted $0.78 EPS. The business’s revenue was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International announced that its board has authorized a stock buyback program on Friday, June 13th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 23rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, June 23rd. Johnson Controls International’s dividend payout ratio is 39.47%.

Insider Activity

In other news, CFO Marc Vandiepenbeeck sold 28,289 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $90.92, for a total value of $2,572,035.88. Following the completion of the transaction, the chief financial officer now owns 147,673 shares in the company, valued at approximately $13,426,429.16. This represents a 16.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $86.91, for a total transaction of $123,586.02. Following the completion of the sale, the vice president now directly owns 144,704 shares in the company, valued at approximately $12,576,224.64. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,555 shares of company stock worth $13,669,414. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

JCI has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Johnson Controls International from $85.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Wells Fargo & Company upped 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. Morgan Stanley upped their price objective on shares of Johnson Controls International from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Royal Bank of Canada upped their price objective on shares of Johnson Controls International from $82.00 to $98.00 and gave the stock a “sector perform” rating in a report on Thursday, May 8th. Finally, Oppenheimer upped their price objective on shares of Johnson Controls International from $90.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $97.88.

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.