Johnson Controls International (JCI) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Johnson Controls International (NYSE:JCI) from a buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “In second-quarter 2019, Johnson Controls’ earnings surpassed the Zacks Consensus Estimate. Also, it improved year over year. The reported quarter witnessed solid organic revenue growth. The company actively takes part in acquisitions and mergers to provide customers with world-class technologies through strong complementary brands and channels. Strong cash flow helps the company to pay regular quarterly dividends and engage in share repurchase programs. Over the past three months, shares of Johnson Controls have outperformed the industry it belongs to.”

Several other research firms also recently weighed in on JCI. Credit Suisse Group began coverage on shares of Johnson Controls International in a research note on Monday, May 13th. They issued a neutral rating and a $42.00 price target on the stock. TheStreet raised shares of Johnson Controls International from a c+ rating to a b- rating in a research note on Thursday, May 9th. Wells Fargo & Co raised shares of Johnson Controls International from a market perform rating to an outperform rating and set a $42.00 price target on the stock in a research note on Monday, March 18th. Cowen reissued a hold rating and issued a $32.00 price target (down from $38.00) on shares of Johnson Controls International in a research note on Friday, February 15th. Finally, ValuEngine raised shares of Johnson Controls International from a sell rating to a hold rating in a research note on Friday, February 8th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $39.45.

NYSE:JCI opened at $38.76 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.80 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $35.46 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 2.12 and a beta of 1.06. Johnson Controls International has a twelve month low of $28.30 and a twelve month high of $40.33.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.79 billion. Johnson Controls International had a net margin of 8.52% and a return on equity of 9.85%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. On average, research analysts anticipate that Johnson Controls International will post 1.93 earnings per share for the current year.

Johnson Controls International declared that its Board of Directors has approved a share repurchase program on Thursday, March 7th that permits the company to buyback $8.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 26% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other Johnson Controls International news, insider Rodney M. Rushing sold 29,728 shares of Johnson Controls International stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $39.03, for a total transaction of $1,160,283.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO George Oliver sold 11,425 shares of Johnson Controls International stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $39.53, for a total transaction of $451,630.25. Following the transaction, the chief executive officer now directly owns 865,142 shares in the company, valued at $34,199,063.26. The disclosure for this sale can be found here. Insiders have sold 175,384 shares of company stock worth $6,861,650 over the last ninety days. 0.50% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of JCI. Vanguard Group Inc raised its stake in Johnson Controls International by 1.3% during the third quarter. Vanguard Group Inc now owns 67,459,746 shares of the company’s stock worth $2,361,091,000 after purchasing an additional 857,281 shares during the period. Bank of Montreal Can raised its stake in Johnson Controls International by 10.6% during the fourth quarter. Bank of Montreal Can now owns 1,244,564 shares of the company’s stock worth $36,902,000 after purchasing an additional 119,289 shares during the period. BB&T Corp raised its stake in Johnson Controls International by 2.6% during the fourth quarter. BB&T Corp now owns 93,087 shares of the company’s stock worth $2,760,000 after purchasing an additional 2,352 shares during the period. Dakota Wealth Management increased its position in shares of Johnson Controls International by 10.2% during the fourth quarter. Dakota Wealth Management now owns 8,426 shares of the company’s stock valued at $251,000 after acquiring an additional 780 shares during the last quarter. Finally, Strs Ohio increased its position in shares of Johnson Controls International by 0.9% during the fourth quarter. Strs Ohio now owns 430,902 shares of the company’s stock valued at $12,776,000 after acquiring an additional 3,798 shares during the last quarter. 90.56% of the stock is currently owned by institutional investors.

About Johnson Controls International

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. The company designs, sells, installs, and services heating, ventilating, and air conditioning systems, controls systems, integrated electronic security systems, 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, to non-residential building and industrial applications.

Featured Story: Economic Reports

Get a free copy of the Zacks research report on Johnson Controls International (JCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Johnson Controls International (NYSE:JCI)

Receive News & Ratings for Johnson Controls International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Johnson Controls International and related companies with MarketBeat.com's FREE daily email newsletter.