Johnson Controls International (NYSE:JCI) Upgraded to Buy by Bank of America

Bank of America upgraded shares of Johnson Controls International (NYSE:JCI) from a neutral rating to a buy rating in a report issued on Tuesday morning, Marketbeat Ratings reports. Bank of America currently has $80.00 target price on the stock, up from their previous target price of $76.00.

Several other research analysts have also recently issued reports on the stock. Barclays cut their price target on shares of Johnson Controls International from $62.00 to $61.00 and set an equal weight rating for the company in a report on Wednesday, July 10th. Oppenheimer raised their price target on Johnson Controls International from $70.00 to $76.00 and gave the company an outperform rating in a report on Thursday, June 27th. Wells Fargo & Company upped their price objective on Johnson Controls International from $75.00 to $80.00 and gave the stock an overweight rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their target price on Johnson Controls International from $73.00 to $81.00 and gave the company a buy rating in a report on Friday, August 2nd. Finally, StockNews.com raised shares of Johnson Controls International from a hold rating to a buy rating in a research note on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Johnson Controls International presently has a consensus rating of Hold and a consensus target price of $70.21.

Johnson Controls International Trading Up 0.8 %

Shares of JCI stock opened at $71.22 on Tuesday. Johnson Controls International has a twelve month low of $47.90 and a twelve month high of $75.36. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $69.35 and its two-hundred day moving average is $67.17. The company has a market capitalization of $47.98 billion, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 1.83 and a beta of 1.29.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.53 billion. Johnson Controls International had a net margin of 6.02% and a return on equity of 13.64%. Johnson Controls International’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. Equities analysts forecast that Johnson Controls International will post 3.67 EPS for the current year.

Johnson Controls International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Wednesday, September 25th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Wednesday, September 25th. Johnson Controls International’s payout ratio is currently 59.92%.

Insider Activity

In related news, COO Nathan D. Manning sold 1,167 shares of Johnson Controls International stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $70.71, for a total transaction of $82,518.57. Following the completion of the transaction, the chief operating officer now directly owns 103,866 shares in the company, valued at approximately $7,344,364.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,245 shares of company stock worth $295,442 over the last ninety days. 0.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Johnson Controls International

Several hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in shares of Johnson Controls International during the first quarter valued at $25,000. Continuum Advisory LLC boosted its stake in shares of Johnson Controls International by 65.2% during the 2nd quarter. Continuum Advisory LLC now owns 527 shares of the company’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Johnson Controls International during the second quarter worth about $47,000. Hexagon Capital Partners LLC raised its position in shares of Johnson Controls International by 39.7% in the second quarter. Hexagon Capital Partners LLC now owns 711 shares of the company’s stock valued at $47,000 after buying an additional 202 shares during the last quarter. Finally, Family Firm Inc. purchased a new position in shares of Johnson Controls International during the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Johnson Controls International Company Profile

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.