Berry Wealth Group LP Reduces Stock Holdings in Johnson Controls International plc (NYSE:JCI)

Berry Wealth Group LP lowered its position in Johnson Controls International plc (NYSE:JCI) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,909 shares of the company’s stock after selling 1,544 shares during the quarter. Johnson Controls International comprises about 1.5% of Berry Wealth Group LP’s holdings, making the stock its 21st biggest holding. Berry Wealth Group LP’s holdings in Johnson Controls International were worth $1,915,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of JCI. SBI Securities Co. Ltd. purchased a new position in Johnson Controls International during the fourth quarter worth about $29,000. Community Bank N.A. acquired a new stake in shares of Johnson Controls International during the first quarter worth about $32,000. Crowley Wealth Management Inc. acquired a new stake in shares of Johnson Controls International during the fourth quarter worth about $42,000. Gables Capital Management Inc. lifted its position in shares of Johnson Controls International by 132.0% during the fourth quarter. Gables Capital Management Inc. now owns 580 shares of the company’s stock worth $46,000 after purchasing an additional 330 shares in the last quarter. Finally, Flagship Wealth Advisors LLC purchased a new position in Johnson Controls International in the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on JCI. JPMorgan Chase & Co. boosted their price objective on shares of Johnson Controls International from $81.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. UBS Group reissued a “buy” rating and issued a $116.00 price objective (up from $103.00) on shares of Johnson Controls International in a research note on Thursday, May 22nd. Vertical Research upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Thursday, May 8th. Robert W. Baird boosted their price objective on shares of Johnson Controls International from $84.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, Citigroup decreased their price objective on shares of Johnson Controls International from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.88.

Johnson Controls International Trading Up 1.1%

Shares of JCI stock opened at $103.41 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.96 and a debt-to-equity ratio of 0.48. Johnson Controls International plc has a fifty-two week low of $64.31 and a fifty-two week high of $105.19. The firm’s 50 day moving average price is $93.89 and its two-hundred day moving average price is $85.72. The stock has a market cap of $68.05 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 2.24 and a beta of 1.33.

Johnson Controls International (NYSE:JCI) last issued 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 net margin of 10.19% and a return on equity of 15.13%. The business had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts anticipate that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International Announces Dividend

The firm also recently announced 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 1.43%. The ex-dividend date of this dividend is Monday, June 23rd. Johnson Controls International’s dividend payout ratio is presently 39.47%.

Johnson Controls International declared that its Board of Directors has authorized a stock buyback program on Friday, June 13th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to purchase up to 13.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, VP Anuruddha Rathninde sold 15,000 shares of Johnson Controls International stock in a transaction on Friday, June 6th. The shares were sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the sale, the vice president now owns 42,574 shares of the company’s stock, valued at $4,390,656.62. The trade was a 26.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Nathan D. Manning sold 1,422 shares of Johnson Controls International stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $79.72, for a total transaction of $113,361.84. Following the sale, the vice president now directly owns 145,502 shares in the company, valued at $11,599,419.44. This trade represents a 0.97% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,555 shares of company stock valued at $13,669,414. Company insiders own 0.54% of the company’s stock.

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.