Johnson Controls International (NYSE:JCI) Shares Gap Up to $68.60

Johnson Controls International plc (NYSE:JCI) shares gapped up before the market opened on Tuesday . The stock had previously closed at $68.60, but opened at $70.42. Johnson Controls International shares last traded at $69.79, with a volume of 869,093 shares changing hands.

Analyst Ratings Changes

Several analysts have recently issued reports on JCI shares. Wells Fargo & Company lifted their target price on shares of Johnson Controls International from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on Johnson Controls International from $73.00 to $81.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley started coverage on Johnson Controls International in a research report on Friday, September 6th. They issued an “overweight” rating and a $85.00 target price on the stock. Oppenheimer boosted their price target on Johnson Controls International from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Finally, Royal Bank of Canada upgraded Johnson Controls International from an “underperform” rating to a “sector perform” rating and raised their price objective for the company from $61.00 to $69.00 in a report on Wednesday, August 14th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $70.21.

Johnson Controls International Trading Up 0.5 %

The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $69.26 and its 200-day moving average is $67.14. The stock has a market capitalization of $47.62 billion, a price-to-earnings ratio of 28.62, a PEG ratio of 1.83 and a beta of 1.29.

Johnson Controls International (NYSE:JCI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. Johnson Controls International had a net margin of 6.02% and a return on equity of 13.64%. The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter last year, the firm earned $1.03 EPS. The business’s revenue was up 1.4% compared to the same quarter last year. Research analysts anticipate that Johnson Controls International plc will post 3.67 earnings per share for the current fiscal year.

Johnson Controls International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Wednesday, September 25th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.09%. Johnson Controls International’s dividend payout ratio (DPR) is presently 59.92%.

Insider Transactions at Johnson Controls International

In related news, COO Nathan D. Manning sold 1,167 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $72.75, for a total value of $84,899.25. Following the sale, the chief operating officer now directly owns 143,488 shares in the company, valued at approximately $10,438,752. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 4,245 shares of company stock worth $295,442. 0.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Johnson Controls International

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Johnson Controls International by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 71,387,169 shares of the company’s stock worth $4,114,756,000 after purchasing an additional 10,522,009 shares during the period. Capital World Investors boosted its position in shares of Johnson Controls International by 85.5% during the first quarter. Capital World Investors now owns 14,142,736 shares of the company’s stock worth $923,804,000 after buying an additional 6,520,580 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Johnson Controls International by 95.9% in the first quarter. Bank of New York Mellon Corp now owns 12,760,120 shares of the company’s stock valued at $833,491,000 after buying an additional 6,247,250 shares in the last quarter. Norges Bank purchased a new stake in shares of Johnson Controls International in the 4th quarter valued at $316,400,000. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Johnson Controls International by 686.4% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,445,418 shares of the company’s stock worth $295,487,000 after acquiring an additional 3,880,146 shares in the last quarter. 90.05% of the stock is currently owned by institutional investors and hedge funds.

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.