Johnson Controls International (NYSE:JCI) Sets New 12-Month High Following Strong Earnings

Johnson Controls International PLC (NYSE:JCI)’s stock price hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $42.85 and last traded at $42.72, with a volume of 1356562 shares changing hands. The stock had previously closed at $41.27.

The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $6.45 billion during the quarter, compared to the consensus estimate of $6.33 billion. Johnson Controls International had a net margin of 8.52% and a return on equity of 9.85%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 EPS.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Monday, June 24th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Friday, June 21st. Johnson Controls International’s dividend payout ratio (DPR) is 36.75%.

Several analysts recently issued reports on JCI shares. JPMorgan Chase & Co. raised shares of Johnson Controls International from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $31.00 to $35.00 in a research report on Monday, July 8th. Barclays started coverage on shares of Johnson Controls International in a research report on Wednesday, June 12th. They issued an “equal weight” rating and a $39.00 price target for the company. ValuEngine downgraded shares of Johnson Controls International from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet upgraded Johnson Controls International from a “c+” rating to a “b-” rating in a research note on Thursday, May 9th. Finally, Citigroup began coverage on Johnson Controls International in a research note on Wednesday, June 5th. They set a “buy” rating and a $45.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Johnson Controls International currently has an average rating of “Hold” and an average target price of $39.30.

In other news, CEO George Oliver sold 11,481 shares of Johnson Controls International stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $38.90, for a total transaction of $446,610.90. Following the sale, the chief executive officer now directly owns 870,354 shares in the company, valued at approximately $33,856,770.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rodney M. Rushing sold 10,853 shares of Johnson Controls International stock in a transaction on Monday, July 1st. The stock was sold at an average price of $41.63, for a total value of $451,810.39. Following the sale, the insider now owns 53,594 shares in the company, valued at $2,231,118.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 234,399 shares of company stock worth $9,394,879. Company insiders own 0.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its stake in shares of Johnson Controls International by 68.4% during the 1st quarter. Teacher Retirement System of Texas now owns 1,011,447 shares of the company’s stock worth $37,363,000 after purchasing an additional 410,863 shares during the period. Trillium Asset Management LLC raised its stake in shares of Johnson Controls International by 6.6% during the 1st quarter. Trillium Asset Management LLC now owns 159,591 shares of the company’s stock worth $5,895,000 after purchasing an additional 9,863 shares during the period. MML Investors Services LLC raised its stake in shares of Johnson Controls International by 11.6% during the 1st quarter. MML Investors Services LLC now owns 22,717 shares of the company’s stock worth $839,000 after purchasing an additional 2,357 shares during the period. Clearbridge Investments LLC raised its stake in shares of Johnson Controls International by 3.1% during the 1st quarter. Clearbridge Investments LLC now owns 20,573,292 shares of the company’s stock worth $759,977,000 after purchasing an additional 624,079 shares during the period. Finally, Sciencast Management LP raised its stake in shares of Johnson Controls International by 24.1% during the 1st quarter. Sciencast Management LP now owns 44,164 shares of the company’s stock worth $1,589,000 after purchasing an additional 8,564 shares during the period. Institutional investors own 90.81% of the company’s stock.

The firm has a market cap of $37.67 billion, a P/E ratio of 14.90, a P/E/G ratio of 2.23 and a beta of 0.95. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $41.03.

About Johnson Controls International (NYSE:JCI)

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 Article: What is meant by holder of record?

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.