Assenagon Asset Management S.A. Decreases Stock Holdings in Johnson Controls International plc (NYSE:JCI)

Assenagon Asset Management S.A. reduced its position in Johnson Controls International plc (NYSE:JCI) by 2.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,054 shares of the company’s stock after selling 633 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Johnson Controls International were worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Wealthcare Advisory Partners LLC increased its position in Johnson Controls International by 9.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 3,982 shares of the company’s stock worth $319,000 after buying an additional 328 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Johnson Controls International by 24.5% in the first quarter. Farther Finance Advisors LLC now owns 7,946 shares of the company’s stock valued at $647,000 after purchasing an additional 1,566 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Johnson Controls International by 15.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,611 shares of the company’s stock valued at $530,000 after purchasing an additional 882 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Johnson Controls International in the fourth quarter valued at $29,000. Finally, Madison Investment Advisors LLC purchased a new position in shares of Johnson Controls International in the fourth quarter valued at $213,000. 90.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director George Oliver sold 100,000 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Anuruddha Rathninde sold 15,000 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $103.13, for a total value of $1,546,950.00. Following the transaction, the vice president now owns 42,574 shares in the company, valued at approximately $4,390,656.62. This represents a 26.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,555 shares of company stock valued at $13,669,414. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays lifted their price target on 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. Citigroup reduced their price target 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. Royal Bank of Canada lifted their price target on Johnson Controls International from $82.00 to $98.00 and gave the company a “sector perform” rating in a research report on Thursday, May 8th. Vertical Research upgraded Johnson Controls International from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Johnson Controls International from $81.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $97.88.

Johnson Controls International Trading Up 2.4%

Shares of JCI stock opened at $104.43 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.02 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $91.37 and a two-hundred day moving average price of $85.02. Johnson Controls International plc has a 12-month low of $64.31 and a 12-month high of $105.19. The firm has a market cap of $68.72 billion, a P/E ratio of 39.86, a price-to-earnings-growth ratio of 1.96 and a beta of 1.33.

Johnson Controls International (NYSE:JCI) last issued its quarterly earnings results 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 15.11% and a net margin of 6.83%. The firm had revenue of $5.68 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. Equities analysts anticipate that Johnson Controls International plc will post 3.64 EPS for the current fiscal year.

Johnson Controls International declared that its Board of Directors has initiated a share repurchase plan on Friday, June 13th that allows the company to buyback $9.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 13.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Johnson Controls International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 23rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, June 23rd. Johnson Controls International’s dividend payout ratio (DPR) is currently 39.47%.

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.