Zacks Investment Research upgraded shares of Johnson Controls International (NYSE:JCI) from a hold rating to a buy rating in a research note released on Wednesday morning. The firm currently has $38.00 price target on the auto parts company’s stock.
According to Zacks, “Johnson Controls has acquired Nashville-based Smartvue Corporation. The acquired company will help the former to provide cloud-based video surveillance solution under its Building Technology & Solution offerings in a more cost-efficient and secure way. The company regularly undertakes strategic contracts and divestments in order to expand its businesses and focus on less cyclical and high margin segments. It is also actively undertaking acquisitions and mergers in order to offer world-class technologies to its customers through strong complementary brands and channels. Further, it regularly increases its dividend and buys back shares to boost shareholder value. Also, in the last three months, Johnson Controls shares outperformed the industry it belongs to.”
Other research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Johnson Controls International from a buy rating to a hold rating in a report on Friday, February 2nd. Cowen reiterated a hold rating and set a $42.00 price target on shares of Johnson Controls International in a report on Wednesday, February 7th. Robert W. Baird downgraded shares of Johnson Controls International from an outperform rating to a neutral rating and lowered their price target for the stock from $48.00 to $42.00 in a report on Friday, January 5th. Goldman Sachs downgraded shares of Johnson Controls International from a neutral rating to a sell rating and upped their price target for the stock from $37.36 to $44.00 in a report on Thursday, December 7th. Finally, UBS began coverage on shares of Johnson Controls International in a report on Monday, January 22nd. They set a buy rating for the company. Three analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Johnson Controls International has an average rating of Hold and a consensus price target of $45.25.
Johnson Controls International (NYSE:JCI) last announced its quarterly earnings results on Wednesday, January 31st. The auto parts company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.19 billion. Johnson Controls International had a net margin of 5.92% and a return on equity of 11.73%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. sell-side analysts anticipate that Johnson Controls International will post 2.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Monday, March 19th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 16th. This represents a $1.04 annualized dividend and a dividend yield of 3.09%. Johnson Controls International’s dividend payout ratio is 40.00%.
In related news, insider Rodney M. Rushing sold 14,199 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $37.88, for a total value of $537,858.12. Following the sale, the insider now owns 39,847 shares of the company’s stock, valued at $1,509,404.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.43% of the company’s stock.
Several institutional investors have recently modified their holdings of JCI. Synovus Financial Corp boosted its position in Johnson Controls International by 21.8% during the third quarter. Synovus Financial Corp now owns 7,592 shares of the auto parts company’s stock valued at $307,000 after acquiring an additional 1,359 shares during the last quarter. Lafayette Investments Inc. boosted its position in Johnson Controls International by 3.0% during the fourth quarter. Lafayette Investments Inc. now owns 48,175 shares of the auto parts company’s stock valued at $1,836,000 after acquiring an additional 1,390 shares during the last quarter. Saturna Capital CORP boosted its position in Johnson Controls International by 0.3% during the third quarter. Saturna Capital CORP now owns 524,392 shares of the auto parts company’s stock valued at $21,139,000 after acquiring an additional 1,400 shares during the last quarter. NWQ Investment Management Company LLC boosted its position in Johnson Controls International by 0.3% during the third quarter. NWQ Investment Management Company LLC now owns 436,495 shares of the auto parts company’s stock valued at $17,586,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Oarsman Capital Inc. boosted its position in Johnson Controls International by 1.8% during the fourth quarter. Oarsman Capital Inc. now owns 80,318 shares of the auto parts company’s stock valued at $3,061,000 after acquiring an additional 1,422 shares during the last quarter. 91.14% of the stock is currently owned by 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. It designs, sells, controls, installs heating, ventilating, and air conditioning systems. The company also provides residential air conditioning and heating systems, and industrial refrigeration products, as well as technical and energy management consulting services.
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