Red Spruce Capital LLC Trims Stake in Johnson Controls International plc $JCI

Red Spruce Capital LLC reduced its position in Johnson Controls International plc (NYSE:JCI) by 2.3% in the 2nd quarter, Holdings Channel reports. The firm owned 30,160 shares of the company’s stock after selling 725 shares during the period. Johnson Controls International makes up 1.4% of Red Spruce Capital LLC’s holdings, making the stock its 26th biggest holding. Red Spruce Capital LLC’s holdings in Johnson Controls International were worth $3,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in Johnson Controls International during the 1st quarter valued at approximately $219,110,000. AQR Capital Management LLC raised its stake in Johnson Controls International by 747.6% during the 1st quarter. AQR Capital Management LLC now owns 2,034,060 shares of the company’s stock valued at $159,186,000 after acquiring an additional 1,794,089 shares during the last quarter. Alkeon Capital Management LLC purchased a new stake in Johnson Controls International during the 1st quarter valued at approximately $112,154,000. Voya Investment Management LLC raised its stake in Johnson Controls International by 637.1% during the 1st quarter. Voya Investment Management LLC now owns 1,567,576 shares of the company’s stock valued at $125,578,000 after acquiring an additional 1,354,912 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Johnson Controls International by 10,137.2% during the 1st quarter. GAMMA Investing LLC now owns 1,179,219 shares of the company’s stock valued at $94,467,000 after acquiring an additional 1,167,700 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on JCI shares. Citigroup upped their price objective on Johnson Controls International from $110.00 to $112.00 and gave the company a “neutral” rating in a research note on Wednesday, July 30th. Barclays upped their price objective on Johnson Controls International from $100.00 to $101.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada upped their price objective on Johnson Controls International from $112.00 to $114.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 30th. Oppenheimer cut Johnson Controls International from an “outperform” rating to a “market perform” rating in a research report on Friday, June 20th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $120.00 target price on shares of Johnson Controls International in a research report on Thursday, July 24th. Nine analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, Johnson Controls International has a consensus rating of “Hold” and an average target price of $105.72.

Johnson Controls International Stock Performance

NYSE JCI opened at $107.55 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $106.70 and its two-hundred day moving average is $95.67. Johnson Controls International plc has a 12-month low of $68.03 and a 12-month high of $112.63. The stock has a market capitalization of $70.38 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 1.92 and a beta of 1.31.

Johnson Controls International (NYSE:JCI) last released its earnings results on Tuesday, July 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.06. The company had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. Johnson Controls International has set its FY 2025 guidance at 3.650-3.680 EPS. Q4 2025 guidance at 1.140-1.170 EPS. Research analysts expect that Johnson Controls International plc will post 3.64 EPS for the current year.

Johnson Controls International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 22nd will be issued a $0.40 dividend. The ex-dividend date is Monday, September 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.5%. This is an increase from Johnson Controls International’s previous quarterly dividend of $0.37. Johnson Controls International’s payout ratio is currently 47.48%.

Johnson Controls International announced that its board has authorized a share repurchase program on Friday, June 13th that permits the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 13.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, VP Nathan D. Manning sold 1,422 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $105.06, for a total value of $149,395.32. Following the sale, the vice president owned 139,459 shares in the company, valued at $14,651,562.54. This represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Daniel C. Mcconeghy sold 5,917 shares of the company’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $105.73, for a total value of $625,604.41. Following the completion of the sale, the vice president owned 25,005 shares in the company, valued at approximately $2,643,778.65. This represents a 19.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,183 shares of company stock worth $1,071,501. Insiders own 0.54% of the company’s stock.

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.