Royal Bank Of Canada Issues Positive Forecast for Johnson Controls International (NYSE:JCI) Stock Price

Johnson Controls International (NYSE:JCI) had its target price boosted by Royal Bank Of Canada from $112.00 to $114.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

JCI has been the subject of several other reports. Wells Fargo & Company raised their price objective on shares of Johnson Controls International from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft upgraded Johnson Controls International from a “hold” rating to a “buy” rating and lifted their target price for the company from $101.00 to $112.00 in a report on Monday, May 12th. Jefferies Financial Group restated a “hold” rating and issued a $120.00 price objective on shares of Johnson Controls International in a report on Thursday, July 24th. Citigroup reiterated a “neutral” rating and issued a $110.00 price target (up from $94.00) on shares of Johnson Controls International in a research note on Monday, July 14th. Finally, Vertical Research upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Thursday, May 8th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Johnson Controls International presently has an average rating of “Hold” and an average target price of $105.17.

Johnson Controls International Price Performance

NYSE:JCI opened at $104.13 on Wednesday. The business has a 50 day simple moving average of $104.51 and a 200-day simple moving average of $90.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.81. Johnson Controls International has a 1 year low of $64.31 and a 1 year high of $112.63. The firm has a market capitalization of $68.52 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.85 and a beta of 1.31.

Johnson Controls International (NYSE:JCI) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.99 billion. Equities analysts forecast that Johnson Controls International will post 3.64 EPS for the current year.

Johnson Controls International declared that its Board of Directors has initiated a share buyback program on Friday, June 13th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 13.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Johnson Controls International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, June 23rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, June 23rd. Johnson Controls International’s dividend payout ratio is currently 39.47%.

Insider Buying and Selling

In related news, CFO Marc Vandiepenbeeck sold 28,289 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $90.92, for a total value of $2,572,035.88. Following the sale, the chief financial officer owned 147,673 shares of the company’s stock, valued at approximately $13,426,429.16. This trade represents a 16.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Anuruddha Rathninde sold 15,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $103.13, for a total value of $1,546,950.00. Following the completion of the sale, the vice president directly owned 42,574 shares in the company, valued at $4,390,656.62. This represents a 26.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 146,133 shares of company stock valued at $13,581,520. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Johnson Controls International

Several large investors have recently bought and sold shares of JCI. Brighton Jones LLC acquired a new position in Johnson Controls International during the fourth quarter worth about $222,000. Bank Pictet & Cie Europe AG grew its holdings in shares of Johnson Controls International by 67.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 88,569 shares of the company’s stock worth $6,991,000 after acquiring an additional 35,655 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Johnson Controls International by 4.8% during the fourth quarter. Blair William & Co. IL now owns 10,655 shares of the company’s stock valued at $841,000 after purchasing an additional 491 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Johnson Controls International by 2.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 30,061 shares of the company’s stock worth $2,373,000 after buying an additional 700 shares during the period. Finally, CIBC Private Wealth Group LLC lifted its stake in Johnson Controls International by 18.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 73,226 shares of the company’s stock valued at $5,861,000 after buying an additional 11,147 shares in the last quarter. Institutional investors and hedge funds own 90.05% of the company’s stock.

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.