Greenleaf Trust Sells 3,969 Shares of Johnson Controls International plc (NYSE:JCI)

Greenleaf Trust lowered its stake in shares of Johnson Controls International plc (NYSE:JCI) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,498 shares of the company’s stock after selling 3,969 shares during the period. Greenleaf Trust’s holdings in Johnson Controls International were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in JCI. Brighton Jones LLC bought a new position in Johnson Controls International during the fourth quarter worth about $222,000. Bank Pictet & Cie Europe AG increased its stake in Johnson Controls International by 67.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 88,569 shares of the company’s stock valued at $6,991,000 after purchasing an additional 35,655 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Johnson Controls International in the fourth quarter valued at approximately $29,000. Proficio Capital Partners LLC increased its stake in Johnson Controls International by 26.0% in the fourth quarter. Proficio Capital Partners LLC now owns 6,139 shares of the company’s stock valued at $485,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Johnson Controls International by 25.1% in the fourth quarter. Larson Financial Group LLC now owns 923 shares of the company’s stock valued at $73,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 90.05% of the company’s stock.

Johnson Controls International Trading Up 0.9%

Shares of NYSE:JCI opened at $106.46 on Thursday. The company’s 50-day moving average price is $100.20 and its two-hundred day moving average price is $87.58. Johnson Controls International plc has a one year low of $64.31 and a one year high of $107.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.81. The stock has a market capitalization of $70.06 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.93 and a beta of 1.31.

Johnson Controls International (NYSE:JCI) last released its earnings results 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 return on equity of 15.13% and a net margin of 10.19%. The business 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 business earned $0.78 earnings per share. Johnson Controls International’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts forecast that Johnson Controls International plc will post 3.64 EPS for the current fiscal year.

Johnson Controls International announced that its Board of Directors has initiated a stock repurchase plan on Friday, June 13th that allows the company to buyback $9.00 billion in shares. This buyback authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 23rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.39%. Johnson Controls International’s payout ratio is 39.47%.

Insider Activity

In other news, CFO Marc Vandiepenbeeck sold 28,289 shares of Johnson Controls International stock in a transaction dated 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 owned 147,673 shares of the company’s stock, valued at $13,426,429.16. This trade represents a 16.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Anuruddha Rathninde sold 15,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the vice president directly owned 42,574 shares in the company, valued at approximately $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,555 shares of company stock valued at $13,705,106. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on JCI shares. Robert W. Baird lifted their target price on Johnson Controls International from $84.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft upgraded Johnson Controls International from a “hold” rating to a “buy” rating and lifted their target price for the stock from $101.00 to $112.00 in a report on Monday, May 12th. Morgan Stanley boosted their price objective on Johnson Controls International from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Citigroup decreased their price objective on Johnson Controls International from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group boosted their price objective on Johnson Controls International from $103.00 to $116.00 and gave the company a “buy” rating in a research report on Tuesday. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $100.53.

Johnson Controls International 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.