Independence Bank of Kentucky Acquires 287 Shares of Johnson Controls International plc (NYSE:JCI)

Independence Bank of Kentucky grew its holdings in shares of Johnson Controls International plc (NYSE:JCI) by 28.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,282 shares of the company’s stock after purchasing an additional 287 shares during the quarter. Independence Bank of Kentucky’s holdings in Johnson Controls International were worth $84,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in JCI. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Johnson Controls International in the fourth quarter worth about $25,000. Rise Advisors LLC purchased a new stake in shares of Johnson Controls International in the first quarter worth about $25,000. EdgeRock Capital LLC purchased a new stake in shares of Johnson Controls International in the fourth quarter worth about $27,000. Hexagon Capital Partners LLC lifted its holdings in shares of 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 buying an additional 268 shares in the last quarter. Finally, Headinvest LLC purchased a new stake in Johnson Controls International in the third quarter valued at approximately $30,000. Institutional investors own 90.05% of the company’s stock.

Insider Activity

In related news, COO Nathan D. Manning sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $62.86, for a total transaction of $188,580.00. Following the completion of the transaction, the chief operating officer now directly owns 106,891 shares in the company, valued at approximately $6,719,168.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Johnson Controls International news, Director Juergen Tinggren sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $62.31, for a total value of $249,240.00. Following the completion of the transaction, the director now directly owns 30,120 shares in the company, valued at approximately $1,876,777.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Nathan D. Manning sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $62.86, for a total value of $188,580.00. Following the completion of the transaction, the chief operating officer now owns 106,891 shares of the company’s stock, valued at $6,719,168.26. The disclosure for this sale can be found here. Insiders sold 16,900 shares of company stock valued at $1,085,145 in the last quarter. 0.69% of the stock is currently owned by insiders.

Johnson Controls International Stock Performance

Shares of NYSE JCI traded down $0.56 during midday trading on Friday, hitting $66.47. 5,242,277 shares of the company’s stock traded hands, compared to its average volume of 4,160,633. Johnson Controls International plc has a 1 year low of $47.90 and a 1 year high of $74.23. The stock has a market capitalization of $44.78 billion, a price-to-earnings ratio of 26.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.65 and a current ratio of 0.87. The firm has a fifty day moving average of $68.24 and a 200 day moving average of $62.14.

Johnson Controls International (NYSE:JCI) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. Johnson Controls International had a net margin of 6.32% and a return on equity of 13.21%. The firm 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 firm earned $0.75 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts forecast that Johnson Controls International plc will post 3.59 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Monday, June 24th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.23%. The ex-dividend date is Monday, June 24th. Johnson Controls International’s payout ratio is currently 59.92%.

Analysts Set New Price Targets

JCI has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Johnson Controls International from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, June 21st. Oppenheimer raised their target price on shares of Johnson Controls International from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday. UBS Group downgraded shares of Johnson Controls International from a “buy” rating to a “neutral” rating and lowered their target price for the company from $74.00 to $68.00 in a research note on Monday, May 6th. Wells Fargo & Company raised their target price on shares of Johnson Controls International from $64.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Citigroup raised their target price on shares of Johnson Controls International from $59.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.82.

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.