Johnson Controls International (NYSE:JCI) Lowered to “Market Perform” Rating by Oppenheimer

Oppenheimer lowered shares of Johnson Controls International (NYSE:JCI) from an outperform rating to a market perform rating in a research report sent to investors on Friday, Marketbeat Ratings reports.

A number of other analysts have also recently issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Johnson Controls International from $82.00 to $98.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Morgan Stanley lifted their target price on shares of Johnson Controls International from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. lifted their target price on shares of Johnson Controls International from $81.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Robert W. Baird lifted their target price on shares of Johnson Controls International from $84.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Barclays lifted their target price on shares of Johnson Controls International from $85.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Johnson Controls International presently has an average rating of “Moderate Buy” and a consensus price target of $97.88.

Johnson Controls International Stock Down 1.3%

NYSE:JCI opened at $102.10 on Friday. The firm has a market capitalization of $67.18 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 2.26 and a beta of 1.33. Johnson Controls International has a 1-year low of $64.31 and a 1-year high of $105.19. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average price is $93.39 and its 200 day moving average price is $85.55.

Johnson Controls International (NYSE:JCI) last released its earnings results on Wednesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $5.68 billion for the quarter, compared to analysts’ expectations of $5.64 billion. Johnson Controls International had a return on equity of 15.13% and a net margin of 10.19%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. On average, sell-side analysts forecast that Johnson Controls International will post 3.64 earnings per share for the current fiscal year.

Johnson Controls International announced that its Board of Directors has authorized a share repurchase plan on Friday, June 13th that authorizes the company to repurchase $9.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Johnson Controls International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 23rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Monday, June 23rd. Johnson Controls International’s dividend payout ratio (DPR) is presently 39.47%.

Insider Buying and Selling at Johnson Controls International

In other news, VP Nathan D. Manning sold 1,422 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $86.91, for a total value of $123,586.02. Following the completion of the transaction, the vice president now owns 144,704 shares in the company, valued at approximately $12,576,224.64. This represents a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Anuruddha Rathninde sold 15,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the completion of the transaction, the vice president now owns 42,574 shares of the company’s stock, valued at approximately $4,390,656.62. This represents a 26.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,555 shares of company stock valued at $13,669,414 in the last ninety days. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Johnson Controls International

Hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC increased its position in shares of Johnson Controls International by 425.0% during the 1st quarter. Truvestments Capital LLC now owns 315 shares of the company’s stock worth $25,000 after purchasing an additional 255 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of Johnson Controls International during the 1st quarter worth about $26,000. Cornerstone Planning Group LLC increased its position in shares of Johnson Controls International by 74.5% during the 1st quarter. Cornerstone Planning Group LLC now owns 363 shares of the company’s stock worth $28,000 after purchasing an additional 155 shares in the last quarter. Activest Wealth Management increased its position in shares of Johnson Controls International by 56.4% during the 1st quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $30,000 after purchasing an additional 133 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Johnson Controls International during the 4th quarter worth about $29,000. 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.