DAVENPORT & Co LLC Sells 442,083 Shares of Johnson Controls International plc $JCI

DAVENPORT & Co LLC trimmed its holdings in shares of Johnson Controls International plc (NYSE:JCI) by 35.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 794,201 shares of the company’s stock after selling 442,083 shares during the period. DAVENPORT & Co LLC’s holdings in Johnson Controls International were worth $83,758,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Johnson Controls International during the 1st quarter valued at $219,110,000. AQR Capital Management LLC increased its holdings in Johnson Controls International by 747.6% in the first quarter. AQR Capital Management LLC now owns 2,034,060 shares of the company’s stock valued at $159,186,000 after purchasing an additional 1,794,089 shares during the last quarter. Alkeon Capital Management LLC acquired a new position in Johnson Controls International in the first quarter valued at about $112,154,000. Voya Investment Management LLC boosted its holdings in Johnson Controls International by 637.1% during the first quarter. Voya Investment Management LLC now owns 1,567,576 shares of the company’s stock worth $125,578,000 after buying an additional 1,354,912 shares during the last quarter. Finally, Amundi grew its position in shares of Johnson Controls International by 22.2% during the 1st quarter. Amundi now owns 4,731,377 shares of the company’s stock worth $366,412,000 after buying an additional 860,899 shares during the period. 90.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on JCI shares. Wolfe Research increased their price target on shares of Johnson Controls International from $132.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 target price on shares of Johnson Controls International in a report on Thursday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Johnson Controls International from $124.00 to $125.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank Of Canada raised their price objective on Johnson Controls International from $112.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 30th. Finally, Robert W. Baird lifted their target price on Johnson Controls International from $90.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Ten equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, Johnson Controls International has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

Insiders Place Their Bets

In other Johnson Controls International news, VP Daniel C. Mcconeghy sold 5,917 shares of Johnson Controls International stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $105.73, for a total value of $625,604.41. Following the sale, the vice president directly owned 25,005 shares in the company, valued at approximately $2,643,778.65. The trade was a 19.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Nathan D. Manning sold 1,422 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $105.06, for a total transaction of $149,395.32. Following the sale, the vice president directly owned 139,459 shares in the company, valued at $14,651,562.54. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,761 shares of company stock valued at $922,447. 0.54% of the stock is owned by insiders.

Johnson Controls International Stock Performance

Shares of Johnson Controls International stock opened at $108.70 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.81. The firm has a market cap of $71.13 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.33. The stock’s 50-day moving average is $106.78 and its 200-day moving average is $98.52. Johnson Controls International plc has a one year low of $68.03 and a one year high of $112.63.

Johnson Controls International (NYSE:JCI) last announced its earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%.The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.99 billion. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. Equities analysts predict that Johnson Controls International plc will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 22nd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, September 22nd. This is a positive change from Johnson Controls International’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 1.5%. Johnson Controls International’s dividend payout ratio is currently 47.48%.

Johnson Controls International declared that its board has authorized a share buyback plan on Friday, June 13th that authorizes the company to repurchase $9.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.