Corbyn Investment Management Inc. MD Sells 1,729 Shares of Johnson Controls International plc (NYSE:JCI)

Corbyn Investment Management Inc. MD reduced its stake in Johnson Controls International plc (NYSE:JCI) by 1.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 124,503 shares of the company’s stock after selling 1,729 shares during the quarter. Johnson Controls International accounts for approximately 3.4% of Corbyn Investment Management Inc. MD’s investment portfolio, making the stock its 8th largest holding. Corbyn Investment Management Inc. MD’s holdings in Johnson Controls International were worth $8,276,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in JCI. Stonebrook Private Inc. raised its holdings in Johnson Controls International by 6.8% in the 2nd quarter. Stonebrook Private Inc. now owns 26,165 shares of the company’s stock valued at $1,739,000 after acquiring an additional 1,660 shares in the last quarter. Lake Street Advisors Group LLC increased its position in shares of Johnson Controls International by 50.7% in the second quarter. Lake Street Advisors Group LLC now owns 7,763 shares of the company’s stock worth $519,000 after purchasing an additional 2,612 shares during the period. Private Advisor Group LLC increased its position in shares of Johnson Controls International by 27.2% in the second quarter. Private Advisor Group LLC now owns 23,254 shares of the company’s stock worth $1,546,000 after purchasing an additional 4,973 shares during the period. Arizona State Retirement System increased its position in shares of Johnson Controls International by 1.1% in the second quarter. Arizona State Retirement System now owns 197,564 shares of the company’s stock worth $13,132,000 after purchasing an additional 2,233 shares during the period. Finally, MCF Advisors LLC grew its stake in Johnson Controls International by 14.2% during the second quarter. MCF Advisors LLC now owns 2,431 shares of the company’s stock worth $162,000 after buying an additional 302 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on JCI shares. StockNews.com upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Johnson Controls International from $73.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Oppenheimer boosted their price objective on shares of Johnson Controls International from $70.00 to $76.00 and gave the company an “outperform” rating in a research report on Thursday, June 27th. Morgan Stanley began coverage on Johnson Controls International in a research note on Friday. They issued an “overweight” rating and a $85.00 price target on the stock. Finally, Barclays reduced their price objective on Johnson Controls International from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Johnson Controls International has an average rating of “Hold” and a consensus target price of $69.46.

Insider Buying and Selling

In other Johnson Controls International news, COO Nathan D. Manning sold 1,167 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $72.75, for a total value of $84,899.25. Following the transaction, the chief operating officer now owns 143,488 shares in the company, valued at $10,438,752. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 4,245 shares of company stock valued at $295,442. 0.69% of the stock is owned by company insiders.

Johnson Controls International Price Performance

Shares of NYSE:JCI opened at $67.84 on Friday. The firm has a market cap of $45.70 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 1.89 and a beta of 1.29. 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 52 week low of $47.90 and a 52 week high of $75.36. The firm’s fifty day moving average is $69.04 and its 200-day moving average is $66.90.

Johnson Controls International (NYSE:JCI) last issued 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 company had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.53 billion. Johnson Controls International had a return on equity of 13.64% and a net margin of 6.02%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Sell-side analysts predict that Johnson Controls International plc will post 3.67 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, June 24th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Monday, June 24th. Johnson Controls International’s payout ratio is 59.92%.

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.