Johnson Controls International plc (NYSE:JCI) Holdings Raised by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Johnson Controls International plc (NYSE:JCI) by 9.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,345 shares of the company’s stock after purchasing an additional 6,647 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Johnson Controls International were worth $6,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of Johnson Controls International in the 4th quarter worth about $29,000. Community Bank N.A. bought a new position in shares of Johnson Controls International during the first quarter valued at approximately $32,000. Crowley Wealth Management Inc. bought a new position in shares of Johnson Controls International during the fourth quarter valued at approximately $42,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Johnson Controls International during the 1st quarter worth approximately $43,000. Finally, Gables Capital Management Inc. lifted its holdings in shares of Johnson Controls International by 132.0% in the 4th quarter. Gables Capital Management Inc. now owns 580 shares of the company’s stock worth $46,000 after purchasing an additional 330 shares during the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

Insider Activity

In related news, VP Anuruddha Rathninde sold 15,000 shares of the 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 completion of the sale, the vice president directly owned 42,574 shares of the company’s stock, valued at approximately $4,390,656.62. This represents a 26.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Oliver sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $91.70, for a total value of $9,170,000.00. Following the sale, the director owned 904,305 shares of the company’s stock, valued at $82,924,768.50. The trade was a 9.96% 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 $13,705,106 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

JCI has been the subject of a number of analyst reports. Robert W. Baird boosted their target price on shares of Johnson Controls International from $84.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Morgan Stanley increased their price target on Johnson Controls International from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Barclays increased their target price on shares of Johnson Controls International from $85.00 to $90.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Royal Bank Of Canada upped their price target on shares of Johnson Controls International from $82.00 to $98.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 8th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating and raised their price objective for the company from $101.00 to $112.00 in a research note on Monday, May 12th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $97.88.

Johnson Controls International Stock Performance

Shares of NYSE JCI opened at $105.06 on Thursday. The stock’s fifty day simple moving average is $97.76 and its 200 day simple moving average is $86.71. The stock has a market capitalization of $69.13 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.93 and a beta of 1.31. 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 52-week low of $64.31 and a 52-week high of $106.07.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. Johnson Controls International had a return on equity of 15.13% and a net margin of 10.19%. The firm had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side 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 approved a stock repurchase program on Friday, June 13th that authorizes the company to buyback $9.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 13.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Johnson Controls International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 23rd will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, June 23rd. Johnson Controls International’s payout ratio is 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.