Johnson Controls International (NYSE:JCI) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $54.00 to $62.00 in a report issued on Tuesday, The Fly reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 0.99% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Morgan Stanley upgraded Johnson Controls International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $73.00 in a report on Monday, March 29th. Barclays upped their price target on Johnson Controls International from $56.00 to $59.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 6th. Smith Barney Citigroup downgraded Johnson Controls International from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a report on Monday, December 14th. HSBC downgraded Johnson Controls International from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research note on Monday, January 11th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded Johnson Controls International from a “buy” rating to a “neutral” rating and set a $51.00 target price on the stock. in a research note on Monday, December 14th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Johnson Controls International has an average rating of “Buy” and an average price target of $51.26.
Shares of Johnson Controls International stock opened at $61.39 on Tuesday. The business’s fifty day simple moving average is $59.63 and its 200 day simple moving average is $50.07. The firm has a market capitalization of $44.17 billion, a P/E ratio of 72.22, a price-to-earnings-growth ratio of 2.64 and a beta of 1.00. Johnson Controls International has a 12 month low of $26.23 and a 12 month high of $62.40. The company has a current ratio of 1.22, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41.
Johnson Controls International declared that its board has authorized a stock repurchase program on Thursday, March 11th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, VP Sreeganesh Ramaswamy sold 5,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 61,864 shares of the company’s stock, valued at approximately $3,469,951.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert M. Vanhimbergen sold 13,500 shares of the stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $57.67, for a total transaction of $778,545.00. Following the transaction, the vice president now directly owns 46,923 shares of the company’s stock, valued at approximately $2,706,049.41. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in Johnson Controls International by 2.8% during the 4th quarter. BlackRock Inc. now owns 54,028,416 shares of the company’s stock worth $2,517,184,000 after acquiring an additional 1,472,593 shares in the last quarter. Aristotle Capital Management LLC grew its position in Johnson Controls International by 4.3% during the 4th quarter. Aristotle Capital Management LLC now owns 17,881,302 shares of the company’s stock worth $833,090,000 after purchasing an additional 734,151 shares during the last quarter. Norges Bank purchased a new position in Johnson Controls International during the 4th quarter worth $295,934,000. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Johnson Controls International by 41.2% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,975,605 shares of the company’s stock valued at $278,397,000 after acquiring an additional 1,742,143 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Johnson Controls International by 7.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,262,397 shares of the company’s stock valued at $198,585,000 after acquiring an additional 309,126 shares in the last quarter. Institutional investors and hedge funds own 89.61% of the company’s stock.
About Johnson Controls International
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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