Johnson Controls International plc (NYSE:JCI) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB reduced its position in shares of Johnson Controls International plc (NYSE:JCI) by 6.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,195 shares of the company’s stock after selling 3,929 shares during the period. Handelsbanken Fonder AB’s holdings in Johnson Controls International were worth $4,502,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of JCI. Raymond James Financial Inc. acquired a new stake in shares of Johnson Controls International during the 4th quarter worth about $568,309,000. Norges Bank acquired a new stake in shares of Johnson Controls International in the fourth quarter worth approximately $560,549,000. Invesco Ltd. boosted its position in shares of Johnson Controls International by 13.2% in the fourth quarter. Invesco Ltd. now owns 18,407,597 shares of the company’s stock worth $1,452,912,000 after acquiring an additional 2,150,573 shares during the last quarter. Amundi boosted its position in shares of Johnson Controls International by 76.7% in the fourth quarter. Amundi now owns 3,870,478 shares of the company’s stock worth $309,422,000 after acquiring an additional 1,680,431 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Johnson Controls International by 6.0% in the fourth quarter. Franklin Resources Inc. now owns 23,344,374 shares of the company’s stock worth $1,842,571,000 after acquiring an additional 1,325,500 shares during the last quarter. 90.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

JCI has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price 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. Morgan Stanley lifted their price target on shares of Johnson Controls International from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Wells Fargo & Company lifted their price target on shares of Johnson Controls International from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Vertical Research raised shares of Johnson Controls International from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Thursday, May 8th. Finally, UBS Group reaffirmed a “buy” rating and set a $116.00 price target (up from $103.00) on shares of Johnson Controls International in a research report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Johnson Controls International presently has an average rating of “Moderate Buy” and a consensus price target of $97.88.

Insider Activity

In related news, Director George Oliver sold 100,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 904,305 shares of the company’s stock, valued at approximately $82,924,768.50. The trade was a 9.96% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Nathan D. Manning sold 1,422 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $79.72, for a total value of $113,361.84. Following the completion of the sale, the vice president now directly owns 145,502 shares of the company’s stock, valued at approximately $11,599,419.44. The trade was a 0.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,555 shares of company stock worth $13,669,414 in the last 90 days. Company insiders own 0.54% of the company’s stock.

Johnson Controls International Price Performance

NYSE JCI opened at $101.80 on Friday. The stock’s 50-day moving average price is $90.70 and its two-hundred day moving average price is $84.86. The company has a current ratio of 1.02, a quick ratio of 0.86 and a debt-to-equity ratio of 0.50. The company has a market cap of $66.99 billion, a PE ratio of 38.86, a PEG ratio of 1.96 and a beta of 1.33. Johnson Controls International plc has a 1 year low of $64.31 and a 1 year high of $104.15.

Johnson Controls International (NYSE:JCI) last issued its earnings results on Wednesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $5.68 billion for the quarter, compared to the consensus estimate of $5.64 billion. Johnson Controls International had a return on equity of 15.11% and a net margin of 6.83%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, analysts predict 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 issued a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.45%. Johnson Controls International’s dividend payout ratio is 39.47%.

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