Zacks Investment Research upgraded shares of Johnson Controls International (NYSE:JCI) from a hold rating to a buy rating in a research note published on Monday morning, Zacks.com reports. They currently have $43.00 price objective on the stock.
According to Zacks, “Johnson Controls’ strategic acquisitions and mergers bode well, and provide customers with world-class technologies through strong complementary brands and channels. The strong fiscal 2020 outlook of the company strengthens investors’ confidence. Increasing free cash flow and strengthening balance sheet enables it to engage in share repurchase programs. However, frequent business divestments are resulting in high separation costs for the company, thereby impacting margins. High transportation and logistics costs may impact profits of its Power Solution segment. Moreover, increasing cost of raw materials amid trade war tiff is likely to dent the company’s profit margins. It also faces pricing challenges in Asia-Pacific and unfavorable foreign exchange translation. Hence, investors are recommended to wait for a better entry point.”
Other equities analysts have also issued research reports about the stock. Credit Suisse Group raised shares of Johnson Controls International from a neutral rating to an outperform rating and boosted their price objective for the company from $45.00 to $47.00 in a research report on Monday, January 6th. Royal Bank of Canada reissued a sell rating and issued a $38.00 price objective on shares of Johnson Controls International in a research report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on shares of Johnson Controls International from $37.00 to $41.00 and gave the company a neutral rating in a research report on Thursday, October 10th. UBS Group initiated coverage on shares of Johnson Controls International in a research report on Thursday, December 12th. They set a sell rating and a $40.00 price target for the company. Finally, ValuEngine lowered shares of Johnson Controls International from a hold rating to a sell rating in a research report on Tuesday, December 24th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $41.22.
NYSE:JCI opened at $40.93 on Monday. The firm has a 50 day simple moving average of $41.38 and a 200-day simple moving average of $42.16. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.37 and a quick ratio of 1.17. The firm has a market cap of $31.61 billion, a PE ratio of 20.88, a P/E/G ratio of 1.67 and a beta of 0.92. Johnson Controls International has a 1-year low of $31.44 and a 1-year high of $44.82.
Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.42 billion. Johnson Controls International had a net margin of 23.67% and a return on equity of 8.04%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 earnings per share. As a group, sell-side analysts expect that Johnson Controls International will post 2.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Monday, December 16th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.54%. The ex-dividend date was Friday, December 13th. Johnson Controls International’s dividend payout ratio (DPR) is 53.06%.
In related news, CEO George Oliver sold 21,807 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $43.89, for a total transaction of $957,109.23. Also, VP Robert M. Vanhimbergen sold 2,385 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $41.97, for a total transaction of $100,098.45. Following the transaction, the vice president now directly owns 12,288 shares of the company’s stock, valued at approximately $515,727.36. The disclosure for this sale can be found here. Insiders have sold 91,095 shares of company stock valued at $3,864,873 in the last ninety days. 0.50% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Putnam Investments LLC grew its stake in Johnson Controls International by 10.1% during the second quarter. Putnam Investments LLC now owns 6,598,243 shares of the company’s stock worth $272,573,000 after buying an additional 606,217 shares during the period. Great West Life Assurance Co. Can grew its stake in Johnson Controls International by 4.9% during the third quarter. Great West Life Assurance Co. Can now owns 3,808,049 shares of the company’s stock worth $167,292,000 after buying an additional 179,223 shares during the period. Nuveen Asset Management LLC grew its stake in Johnson Controls International by 13,437.3% during the second quarter. Nuveen Asset Management LLC now owns 3,103,696 shares of the company’s stock worth $128,213,000 after buying an additional 3,080,769 shares during the period. Parametric Portfolio Associates LLC grew its stake in Johnson Controls International by 10.4% during the third quarter. Parametric Portfolio Associates LLC now owns 2,459,247 shares of the company’s stock worth $107,936,000 after buying an additional 232,532 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its stake in Johnson Controls International by 39.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,450,987 shares of the company’s stock worth $101,250,000 after buying an additional 698,506 shares during the period. 92.16% of the stock is owned by hedge funds and other institutional investors.
Johnson Controls International Company Profile
Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The company operates through Building Technologies & Solutions and Power Solutions segments. The company designs, sells, installs, and services heating, ventilating, and air conditioning systems, controls systems, integrated electronic security systems, 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, to non-residential building and industrial applications.
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