Johnson Controls International (NYSE:JCI) Upgraded at OTR Global

OTR Global upgraded shares of Johnson Controls International (NYSE:JCI) from a mixed rating to a positive rating in a report issued on Monday morning, Benzinga reports.

Several other brokerages also recently issued reports on JCI. HSBC downgraded Johnson Controls International from a buy rating to a hold rating and set a $52.00 price target for the company. in a report on Monday, January 11th. Deutsche Bank Aktiengesellschaft upped their price objective on Johnson Controls International from $62.00 to $68.00 and gave the company a hold rating in a research note on Monday. Royal Bank of Canada cut Johnson Controls International from an outperform rating to a sector perform rating and set a $66.00 price target on the stock. in a research report on Wednesday, March 31st. Morgan Stanley raised Johnson Controls International from an equal weight rating to an overweight rating and raised their price target for the company from $52.00 to $73.00 in a report on Monday, March 29th. Finally, UBS Group upgraded Johnson Controls International to a buy rating and raised their price target for the stock from $57.00 to $70.00 in a research report on Thursday, April 22nd. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Johnson Controls International currently has a consensus rating of Buy and an average price target of $55.33.

Johnson Controls International stock opened at $63.89 on Monday. The stock’s 50 day moving average is $61.24 and its 200 day moving average is $52.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 1.00. The firm has a market cap of $45.97 billion, a P/E ratio of 75.17, a P/E/G ratio of 2.64 and a beta of 1.00. Johnson Controls International has a one year low of $26.23 and a one year high of $64.09.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Thursday, April 29th. The company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. The company had revenue of $5.59 billion for the quarter, compared to analyst estimates of $5.56 billion. Johnson Controls International had a return on equity of 8.72% and a net margin of 2.83%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 earnings per share. Equities analysts anticipate that Johnson Controls International will post 2.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 16th. Investors of record on Monday, March 22nd were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.69%. The ex-dividend date was Friday, March 19th. This is an increase from Johnson Controls International’s previous quarterly dividend of $0.26. Johnson Controls International’s dividend payout ratio (DPR) is 48.21%.

Johnson Controls International announced that its board has authorized a stock buyback plan on Thursday, March 11th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

In related news, VP Sreeganesh Ramaswamy sold 5,000 shares of the business’s stock in a transaction 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 in the company, valued at $3,469,951.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert M. Vanhimbergen sold 13,500 shares of the business’s stock in a transaction 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 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. Insiders own 0.61% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Johnson Controls International by 2.8% during the fourth quarter. BlackRock Inc. now owns 54,028,416 shares of the company’s stock worth $2,517,184,000 after purchasing an additional 1,472,593 shares in the last quarter. Aristotle Capital Management LLC lifted its position in Johnson Controls International by 4.3% in the fourth quarter. Aristotle Capital Management LLC now owns 17,881,302 shares of the company’s stock valued at $833,090,000 after acquiring an additional 734,151 shares during the last quarter. Norges Bank purchased a new stake in Johnson Controls International in the fourth quarter valued at $295,934,000. Amundi Pioneer Asset Management Inc. raised 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 buying an additional 1,742,143 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised 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 buying an additional 309,126 shares during the last quarter. Hedge funds and other institutional investors 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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