Johnson Controls International plc (NYSE:JCI) Sees Large Decrease in Short Interest

Johnson Controls International plc (NYSE:JCI) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 8,940,000 shares, a drop of 14.9% from the September 30th total of 10,510,000 shares. Based on an average daily trading volume, of 4,300,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.3% of the company’s stock are sold short.

Johnson Controls International Stock Performance

NYSE JCI traded down $0.98 on Tuesday, hitting $76.75. The stock had a trading volume of 78,242 shares, compared to its average volume of 4,959,196. The company’s 50-day moving average is $74.10 and its two-hundred day moving average is $70.16. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.46. Johnson Controls International has a one year low of $48.13 and a one year high of $78.23. The stock has a market cap of $51.27 billion, a price-to-earnings ratio of 32.51, a P/E/G ratio of 2.20 and a beta of 1.29.

Johnson Controls International (NYSE:JCI) last released its 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. Johnson Controls International had a return on equity of 13.64% and a net margin of 6.02%. The company had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the previous year, the business posted $1.03 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts expect that Johnson Controls International will post 3.68 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Wednesday, September 25th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.93%. The ex-dividend date was Wednesday, September 25th. Johnson Controls International’s payout ratio is presently 61.92%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Royal Bank of Canada raised shares of Johnson Controls International from an “underperform” rating to a “sector perform” rating and upped their price target for the company from $61.00 to $69.00 in a report on Wednesday, August 14th. Bank of America increased their price target on shares of Johnson Controls International from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Mizuho boosted their price objective on Johnson Controls International from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird increased their target price on Johnson Controls International from $72.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price target on Johnson Controls International from $73.00 to $81.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $73.43.

Insider Buying and Selling

In other news, CEO George Oliver sold 110,615 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.79, for a total value of $8,494,125.85. Following the completion of the transaction, the chief executive officer now directly owns 1,243,751 shares in the company, valued at approximately $95,507,639.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO George Oliver sold 110,615 shares of Johnson Controls International stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.79, for a total transaction of $8,494,125.85. Following the sale, the chief executive officer now directly owns 1,243,751 shares of the company’s stock, valued at approximately $95,507,639.29. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Nathan D. Manning sold 1,167 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $70.71, for a total value of $82,518.57. Following the completion of the transaction, the chief operating officer now owns 103,866 shares in the company, valued at approximately $7,344,364.86. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,494 shares of company stock valued at $16,999,239. Corporate insiders own 0.69% of the company’s stock.

Institutional Trading of Johnson Controls International

Institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its stake in shares of Johnson Controls International by 3.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 47,277 shares of the company’s stock worth $3,088,000 after purchasing an additional 1,432 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Johnson Controls International in the first quarter valued at approximately $212,000. Founders Financial Securities LLC acquired a new stake in shares of Johnson Controls International in the first quarter worth $248,000. Miracle Mile Advisors LLC increased its position in Johnson Controls International by 1.6% during the first quarter. Miracle Mile Advisors LLC now owns 16,908 shares of the company’s stock worth $1,104,000 after acquiring an additional 268 shares during the period. Finally, IVC Wealth Advisors LLC raised its stake in Johnson Controls International by 18.6% during the 1st quarter. IVC Wealth Advisors LLC now owns 4,315 shares of the company’s stock valued at $282,000 after purchasing an additional 676 shares during the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.