Gabelli Funds LLC Reduces Holdings in Johnson Controls International plc (NYSE:JCI)

Gabelli Funds LLC lowered its position in Johnson Controls International plc (NYSE:JCI) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 456,300 shares of the company’s stock after selling 13,958 shares during the quarter. Gabelli Funds LLC owned about 0.07% of Johnson Controls International worth $30,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summit Trail Advisors LLC grew its position in Johnson Controls International by 4.6% in the second quarter. Summit Trail Advisors LLC now owns 3,715 shares of the company’s stock worth $248,000 after acquiring an additional 163 shares in the last quarter. Glassy Mountain Advisors Inc. lifted its stake in Johnson Controls International by 0.4% during the first quarter. Glassy Mountain Advisors Inc. now owns 50,282 shares of the company’s stock worth $3,284,000 after purchasing an additional 181 shares during the last quarter. HCR Wealth Advisors boosted its holdings in shares of Johnson Controls International by 1.2% in the 4th quarter. HCR Wealth Advisors now owns 16,225 shares of the company’s stock worth $935,000 after purchasing an additional 185 shares in the last quarter. Center for Financial Planning Inc. boosted its holdings in shares of Johnson Controls International by 5.7% in the 2nd quarter. Center for Financial Planning Inc. now owns 3,485 shares of the company’s stock worth $232,000 after purchasing an additional 187 shares in the last quarter. Finally, Wedmont Private Capital increased its position in shares of Johnson Controls International by 3.1% during the 2nd quarter. Wedmont Private Capital now owns 6,440 shares of the company’s stock valued at $451,000 after purchasing an additional 192 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Johnson Controls International news, COO Nathan D. Manning sold 1,167 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $70.71, for a total transaction of $82,518.57. Following the transaction, the chief operating officer now owns 103,866 shares in the company, valued at approximately $7,344,364.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Johnson Controls International news, COO Nathan D. Manning sold 1,167 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $70.71, for a total transaction of $82,518.57. Following the completion of the transaction, the chief operating officer now owns 103,866 shares of the company’s stock, valued at $7,344,364.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Oliver sold 110,615 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $72.67, for a total transaction of $8,038,392.05. Following the completion of the sale, the chief executive officer now directly owns 1,243,751 shares in the company, valued at $90,383,385.17. The disclosure for this sale can be found here. Insiders sold 115,046 shares of company stock worth $8,347,562 over the last three months. Company insiders own 0.69% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on JCI. Royal Bank of Canada upgraded Johnson Controls International from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $61.00 to $69.00 in a research report on Wednesday, August 14th. Barclays lowered their price objective on shares of Johnson Controls International from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Oppenheimer increased their target price on shares of Johnson Controls International from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Wells Fargo & Company lifted their target price on shares of Johnson Controls International from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Bank of America upgraded shares of Johnson Controls International from a “neutral” rating to a “buy” rating and upped their price target for the company from $76.00 to $80.00 in a research report on Tuesday, September 10th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $70.21.

Johnson Controls International Price Performance

Shares of JCI stock opened at $74.10 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 0.96. Johnson Controls International plc has a fifty-two week low of $47.90 and a fifty-two week high of $75.36. The firm has a market cap 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 business’s 50 day moving average price is $69.95 and its 200-day moving average price is $67.79.

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

Johnson Controls International Dividend Announcement

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

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.