Johnson Controls International (NYSE:JCI) Hits New 12-Month High After Earnings Beat

Shares of Johnson Controls International plc (NYSE:JCI) reached a new 52-week high during trading 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. The stock had previously closed at $74.86.

The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $7.26 billion.

Johnson Controls International Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on JCI. Barclays lifted their price target on shares of Johnson Controls International from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. Morgan Stanley began coverage on shares of Johnson Controls International in a research report on Friday, September 6th. They set an “overweight” rating and a $85.00 price target on the stock. StockNews.com upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating in a report on Monday. Bank of America upped their target price on Johnson Controls International from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Oppenheimer raised their target price on Johnson Controls International from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.64.

Insider Activity at Johnson Controls International

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 sale, the chief executive officer now owns 1,243,751 shares of the company’s stock, valued at approximately $95,507,639.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO George Oliver sold 110,615 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.79, for a total value of $8,494,125.85. Following the sale, the chief executive officer now owns 1,243,751 shares in the company, valued at $95,507,639.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Nathan D. Manning sold 3,000 shares of Johnson Controls International 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 sale, the chief operating officer now owns 140,488 shares of the company’s stock, valued at approximately $10,828,815.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,141 shares of company stock valued at $16,904,519 over the last 90 days. Insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Johnson Controls International

Several institutional investors have recently made changes to their positions in the company. Jennison Associates LLC raised its holdings in Johnson Controls International by 4.3% in the 3rd quarter. Jennison Associates LLC now owns 787,964 shares of the company’s stock worth $61,154,000 after purchasing an additional 32,480 shares during the period. Commerce Bank raised its stake in shares of Johnson Controls International by 0.8% during the 3rd quarter. Commerce Bank now owns 22,984 shares of the company’s stock worth $1,784,000 after buying an additional 186 shares during the period. West Family Investments Inc. acquired a new stake in Johnson Controls International in the 3rd quarter valued at $233,000. PNC Financial Services Group Inc. grew its stake in Johnson Controls International by 3.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 350,202 shares of the company’s stock valued at $27,179,000 after acquiring an additional 12,568 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Johnson Controls International by 16.3% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 8,828 shares of the company’s stock worth $685,000 after acquiring an additional 1,239 shares in the last quarter. 90.05% of the stock is owned by hedge funds and other institutional investors.

Johnson Controls International Price Performance

The stock’s 50-day simple moving average is $74.87 and its two-hundred day simple moving average is $70.72. The company has a market capitalization 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 quick ratio of 0.73, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

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.