Johnson Controls International plc (NYSE:JCI) Position Cut by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in Johnson Controls International plc (NYSE:JCI) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,837 shares of the company’s stock after selling 3,499 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Johnson Controls International were worth $5,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Johnson Controls International in the fourth quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in Johnson Controls International in the fourth quarter worth approximately $27,000. Hexagon Capital Partners LLC lifted its position in Johnson Controls International by 114.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 503 shares of the company’s stock worth $29,000 after purchasing an additional 268 shares during the period. Headinvest LLC acquired a new stake in Johnson Controls International in the third quarter worth approximately $30,000. Finally, West Paces Advisors Inc. acquired a new stake in Johnson Controls International in the third quarter worth approximately $31,000. 90.05% of the stock is owned by institutional investors.

Johnson Controls International Price Performance

JCI opened at $69.12 on Wednesday. The stock has a fifty day moving average of $67.73 and a 200-day moving average of $61.54. The firm has a market capitalization of $46.56 billion, a P/E ratio of 27.98, a PEG ratio of 1.78 and a beta of 1.29. Johnson Controls International plc has a 12-month low of $47.90 and a 12-month high of $74.23. The company has a quick ratio of 0.65, a current ratio of 0.87 and a debt-to-equity ratio of 0.44.

Johnson Controls International (NYSE:JCI) last released its earnings results on Wednesday, May 1st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. Johnson Controls International had a return on equity of 13.21% and a net margin of 6.32%. The company had revenue of $6.70 billion during the quarter, compared to analyst estimates of $7.51 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities analysts forecast that Johnson Controls International plc will post 3.59 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Monday, June 24th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Monday, June 24th. Johnson Controls International’s dividend payout ratio (DPR) is presently 59.92%.

Analyst Upgrades and Downgrades

JCI has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on Johnson Controls International from $64.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. UBS Group downgraded Johnson Controls International from a “buy” rating to a “neutral” rating and cut their price objective for the company from $74.00 to $68.00 in a research report on Monday, May 6th. Argus downgraded Johnson Controls International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Barclays cut their price objective on Johnson Controls International from $61.00 to $59.00 and set an “equal weight” rating for the company in a research report on Thursday, May 2nd. Finally, Citigroup increased their price objective on Johnson Controls International from $59.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.00.

Insider Transactions at Johnson Controls International

In other news, VP Daniel C. Mcconeghy sold 9,342 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $65.50, for a total value of $611,901.00. Following the transaction, the vice president now directly owns 25,378 shares of the company’s stock, valued at $1,662,259. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Johnson Controls International news, Director Juergen Tinggren sold 4,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $62.31, for a total transaction of $249,240.00. Following the transaction, the director now directly owns 30,120 shares of the company’s stock, valued at $1,876,777.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel C. Mcconeghy sold 9,342 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.50, for a total transaction of $611,901.00. Following the transaction, the vice president now directly owns 25,378 shares in the company, valued at $1,662,259. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,900 shares of company stock valued at $1,085,145. 0.69% of the stock is owned by insiders.

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.