First City Capital Management Inc. Lowers Stock Position in Johnson Controls International plc (NYSE:JCI)

First City Capital Management Inc. cut its stake in shares of Johnson Controls International plc (NYSE:JCI) by 17.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,369 shares of the company’s stock after selling 1,392 shares during the quarter. First City Capital Management Inc.’s holdings in Johnson Controls International were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Johnson Controls International by 17.3% in the fourth quarter. Vanguard Group Inc. now owns 71,387,169 shares of the company’s stock worth $4,114,756,000 after acquiring an additional 10,522,009 shares in the last quarter. Capital World Investors raised its holdings in shares of Johnson Controls International by 85.5% during the 1st quarter. Capital World Investors now owns 14,142,736 shares of the company’s stock valued at $923,804,000 after buying an additional 6,520,580 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Johnson Controls International by 95.9% in the 1st quarter. Bank of New York Mellon Corp now owns 12,760,120 shares of the company’s stock worth $833,491,000 after buying an additional 6,247,250 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Johnson Controls International by 686.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,445,418 shares of the company’s stock worth $295,487,000 after buying an additional 3,880,146 shares in the last quarter. Finally, Clean Energy Transition LLP bought a new position in Johnson Controls International during the fourth quarter valued at approximately $124,553,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Johnson Controls International Stock Performance

Shares of Johnson Controls International stock opened at $74.10 on Friday. Johnson Controls International plc has a 12 month low of $47.90 and a 12 month high of $75.36. The firm has a market capitalization of $49.92 billion, a P/E ratio of 30.00, a P/E/G ratio of 1.91 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $69.95 and a two-hundred day simple moving average of $67.79.

Johnson Controls International (NYSE:JCI) last announced its earnings results on Wednesday, July 31st. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.53 billion. Johnson Controls International had a net margin of 6.02% and a return on equity of 13.64%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. On average, equities analysts forecast that Johnson Controls International plc will post 3.67 earnings per share for the current fiscal year.

Johnson Controls International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Wednesday, September 25th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $1.48 dividend on an annualized basis and a yield of 2.00%. Johnson Controls International’s dividend payout ratio is currently 59.92%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays reduced their target price on shares of Johnson Controls International from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada upgraded Johnson Controls International from an “underperform” rating to a “sector perform” rating and lifted their price objective for the stock from $61.00 to $69.00 in a report on Wednesday, August 14th. The Goldman Sachs Group boosted their target price on Johnson Controls International from $73.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Bank of America upgraded Johnson Controls International from a “neutral” rating to a “buy” rating and raised their price target for the stock from $76.00 to $80.00 in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their price objective on Johnson Controls International from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Johnson Controls International presently has a consensus rating of “Hold” and a consensus target price of $70.21.

Insiders Place Their Bets

In other news, COO Nathan D. Manning sold 1,167 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $66.01, for a total transaction of $77,033.67. Following the sale, the chief operating officer now owns 104,556 shares in the company, valued at $6,901,741.56. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Johnson Controls International news, CEO George Oliver sold 110,615 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.67, for a total value of $8,038,392.05. Following the completion of the transaction, the chief executive officer now owns 1,243,751 shares of the company’s stock, valued at approximately $90,383,385.17. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Nathan D. Manning sold 1,167 shares of Johnson Controls International stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $66.01, for a total transaction of $77,033.67. Following the completion of the sale, the chief operating officer now directly owns 104,556 shares of the company’s stock, valued at approximately $6,901,741.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,046 shares of company stock valued at $8,347,562. Insiders own 0.69% of the company’s stock.

Johnson Controls International Company 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.