Johnson Controls International (NYSE:JCI) Reaches New 52-Week High on Better-Than-Expected Earnings

Johnson Controls International plc (NYSE:JCI) shares reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $78.29 and last traded at $78.01, with a volume of 39042 shares trading hands. The stock had previously closed at $74.86.

The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.03. Johnson Controls International had a return on equity of 14.51% and a net margin of 6.49%. The firm had revenue of $6.25 billion for the quarter, compared to analysts’ expectations of $7.26 billion.

Johnson Controls International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, September 25th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.75%. Johnson Controls International’s dividend payout ratio (DPR) is 58.27%.

Analyst Upgrades and Downgrades

JCI has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Johnson Controls International from $81.00 to $86.00 and gave the stock a “sector perform” rating in a report on Thursday. Morgan Stanley began coverage on Johnson Controls International in a research report on Friday, September 6th. They set an “overweight” rating and a $85.00 price objective for the company. Barclays lifted their target price on shares of Johnson Controls International from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Bank of America increased their price objective on shares of Johnson Controls International from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Mizuho lifted their target price on Johnson Controls International from $62.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Johnson Controls International currently has an average rating of “Hold” and a consensus price target of $75.64.

Insider Transactions at Johnson Controls International

In related news, CEO George Oliver sold 110,615 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.79, for a total value of $8,494,125.85. Following the sale, the chief executive officer now directly owns 1,243,751 shares in the company, valued at approximately $95,507,639.29. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO George Oliver sold 110,615 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.79, for a total value of $8,494,125.85. Following the completion of the transaction, the chief executive officer now owns 1,243,751 shares of the company’s stock, valued at approximately $95,507,639.29. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Nathan D. Manning sold 1,167 shares of Johnson Controls International stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $72.75, for a total value of $84,899.25. Following the completion of the transaction, the chief operating officer now owns 143,488 shares of the company’s stock, valued at approximately $10,438,752. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,141 shares of company stock worth $16,904,519 in the last quarter. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Johnson Controls International

A number of hedge funds have recently modified their holdings of JCI. Metis Global Partners LLC lifted its holdings in Johnson Controls International by 0.4% in the third quarter. Metis Global Partners LLC now owns 28,446 shares of the company’s stock valued at $2,208,000 after acquiring an additional 127 shares during the period. Summit Trail Advisors LLC increased its stake in shares of Johnson Controls International by 4.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 3,715 shares of the company’s stock valued at $248,000 after acquiring an additional 163 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in shares of Johnson Controls International by 1.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 17,011 shares of the company’s stock valued at $1,320,000 after purchasing an additional 163 shares during the last quarter. Berry Wealth Group LP boosted its holdings in Johnson Controls International by 0.7% in the third quarter. Berry Wealth Group LP now owns 25,978 shares of the company’s stock valued at $2,016,000 after acquiring an additional 177 shares during the last quarter. Finally, Center for Financial Planning Inc. increased its position in Johnson Controls International by 5.7% during the 2nd quarter. Center for Financial Planning Inc. now owns 3,485 shares of the company’s stock worth $232,000 after purchasing an additional 187 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

Johnson Controls International Stock Up 3.3 %

The firm’s 50-day moving average price is $74.87 and its 200-day moving average price is $70.72. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.73. The company has a market cap of $56.53 billion, a price-to-earnings ratio of 33.31, a price-to-earnings-growth ratio of 2.39 and a beta of 1.29.

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.