Johnson Controls International (NYSE:JCI) Reaches New 1-Year High Following Analyst Upgrade

Johnson Controls International plc (NYSE:JCI)’s stock price reached a new 52-week high during trading on Tuesday after Credit Suisse Group raised their price target on the stock from $64.00 to $66.00. Credit Suisse Group currently has an outperform rating on the stock. Johnson Controls International traded as high as $64.29 and last traded at $63.75, with a volume of 17548 shares changing hands. The stock had previously closed at $63.89.

A number of other equities research analysts have also recently commented on JCI. Royal Bank of Canada cut shares of Johnson Controls International from an “outperform” rating to a “sector perform” rating and set a $66.00 price target on the stock. in a report on Wednesday, March 31st. Robert W. Baird raised their target price on shares of Johnson Controls International from $56.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, April 13th. Morgan Stanley raised their target price on shares of Johnson Controls International from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday. OTR Global upgraded shares of Johnson Controls International from a “mixed” rating to a “positive” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Johnson Controls International from $62.00 to $68.00 and gave the stock a “hold” rating in a report on Monday. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $55.33.

In other news, VP Sreeganesh Ramaswamy sold 5,000 shares of the firm’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $56.09, for a total transaction of $280,450.00. Following the sale, the vice president now directly owns 61,864 shares in the company, valued at approximately $3,469,951.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Vanhimbergen sold 13,500 shares of the firm’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $57.67, for a total transaction of $778,545.00. Following the sale, the vice president now owns 46,923 shares in the company, valued at $2,706,049.41. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in JCI. Envestnet Asset Management Inc. increased its holdings in Johnson Controls International by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,019,358 shares of the company’s stock valued at $60,825,000 after acquiring an additional 51,035 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Johnson Controls International by 5.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 68,502 shares of the company’s stock valued at $4,087,000 after acquiring an additional 3,785 shares during the last quarter. Better Money Decisions LLC bought a new stake in Johnson Controls International in the 1st quarter valued at $27,000. Vontobel Swiss Wealth Advisors AG increased its holdings in Johnson Controls International by 9.3% in the 1st quarter. Vontobel Swiss Wealth Advisors AG now owns 7,925 shares of the company’s stock valued at $473,000 after acquiring an additional 675 shares during the last quarter. Finally, Robeco Schweiz AG increased its holdings in Johnson Controls International by 41.7% in the 1st quarter. Robeco Schweiz AG now owns 2,550,000 shares of the company’s stock valued at $152,159,000 after acquiring an additional 750,000 shares during the last quarter. Hedge funds and other institutional investors own 89.61% of the company’s stock.

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.22. The company has a market capitalization of $45.79 billion, a P/E ratio of 74.87, a P/E/G ratio of 2.64 and a beta of 1.00. The business’s fifty day simple moving average is $61.28 and its 200-day simple moving average is $52.13.

Johnson Controls International (NYSE:JCI) last announced its quarterly earnings results on Thursday, April 29th. The company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.03. Johnson Controls International had a net margin of 2.83% and a return on equity of 8.72%. The company had revenue of $5.59 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the previous year, the firm posted $0.42 EPS. Johnson Controls International’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Johnson Controls International plc will post 2.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Monday, March 22nd were paid a $0.27 dividend. This is a boost from Johnson Controls International’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, March 19th. Johnson Controls International’s dividend payout ratio (DPR) is presently 48.21%.

Johnson Controls International declared that its Board of Directors has approved a share repurchase program on Thursday, March 11th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the company to repurchase up to 9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Johnson Controls International Company Profile (NYSE:JCI)

Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. It operates through Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products segments. The company designs, sells, installs, and services heating, ventilating, air conditioning, controls, refrigeration, integrated electronic security, and integrated fire detection and suppression systems for commercial, industrial, retail, small business, institutional, and governmental customers; and energy efficiency solutions and technical services, including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems, as well as data-driven smart building solutions to non-residential building and industrial applications.

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