Johnson Controls International (NYSE:JCI) Reaches New 12-Month High on Better-Than-Expected Earnings

Johnson Controls International plc (NYSE:JCI) shares reached a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $78.29 and last traded at $78.01, with a volume of 39042 shares changing hands. The stock had previously closed at $74.86.

The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.03. Johnson Controls International had a net margin of 6.49% and a return on equity of 14.51%. The firm had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $7.26 billion.

Johnson Controls International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, September 25th were issued a dividend of $0.37 per share. The ex-dividend date was Wednesday, September 25th. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. Johnson Controls International’s dividend payout ratio is presently 58.27%.

Analysts Set New Price Targets

Several research firms recently issued reports on JCI. Robert W. Baird raised their price objective on shares of Johnson Controls International from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday. Barclays upped their price objective on Johnson Controls International from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. StockNews.com raised Johnson Controls International from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company upped their price target on Johnson Controls International from $84.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Oppenheimer boosted their price target on shares of Johnson Controls International from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $75.64.

Insider Buying and Selling

In other Johnson Controls International news, CEO George Oliver sold 110,615 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.79, for a total transaction of $8,494,125.85. Following the completion of the transaction, the chief executive officer now owns 1,243,751 shares in the company, valued at $95,507,639.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO George Oliver sold 110,615 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.79, for a total transaction of $8,494,125.85. Following the sale, the chief executive officer now owns 1,243,751 shares of the company’s stock, valued at approximately $95,507,639.29. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Nathan D. Manning sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $77.08, for a total transaction of $231,240.00. Following the completion of the transaction, the chief operating officer now owns 140,488 shares in the company, valued at $10,828,815.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,141 shares of company stock worth $16,904,519. Company insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Johnson Controls International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JCI. Capital World Investors increased its stake in Johnson Controls International by 85.5% in the 1st quarter. Capital World Investors now owns 14,142,736 shares of the company’s stock valued at $923,804,000 after buying an additional 6,520,580 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Johnson Controls International by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,855,075 shares of the company’s stock worth $389,214,000 after acquiring an additional 479,548 shares during the period. Raymond James & Associates raised its holdings in Johnson Controls International by 5.6% during the third quarter. Raymond James & Associates now owns 4,735,147 shares of the company’s stock worth $367,495,000 after purchasing an additional 249,405 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Johnson Controls International by 686.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,445,418 shares of the company’s stock valued at $295,487,000 after purchasing an additional 3,880,146 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Johnson Controls International by 2.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,401,984 shares of the company’s stock valued at $159,660,000 after purchasing an additional 59,274 shares in the last quarter. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Johnson Controls International Price Performance

The company has a market cap of $56.53 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 2.39 and a beta of 1.29. The company has a 50-day simple moving average of $74.87 and a 200-day simple moving average of $70.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 0.94.

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.