Citigroup Increases Johnson Controls International (NYSE:JCI) Price Target to $112.00

Johnson Controls International (NYSE:JCI) had its price target raised by analysts at Citigroup from $110.00 to $112.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 6.56% from the stock’s previous close.

Several other analysts have also weighed in on the company. Robert W. Baird upped their target price on Johnson Controls International from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, July 17th. Oppenheimer cut shares of Johnson Controls International from an “outperform” rating to a “market perform” rating in a research note on Friday, June 20th. Jefferies Financial Group restated a “hold” rating and set a $120.00 target price on shares of Johnson Controls International in a report on Thursday, July 24th. Wells Fargo & Company upped their price target on shares of Johnson Controls International from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Finally, Vertical Research upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $105.17.

Johnson Controls International Stock Up 1.0%

JCI stock opened at $105.10 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $104.65 and its 200 day moving average price is $90.66. Johnson Controls International has a 52 week low of $64.31 and a 52 week high of $112.63. The company has a market cap of $69.16 billion, a P/E ratio of 31.19, a P/E/G ratio of 1.85 and a beta of 1.31.

Johnson Controls International (NYSE:JCI) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.99 billion. Johnson Controls International had a return on equity of 14.71% and a net margin of 9.53%. On average, research analysts expect 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 initiated a share repurchase program on Friday, June 13th that allows the company to repurchase $9.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 13.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director George Oliver sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $91.70, for a total value of $9,170,000.00. Following the completion of the sale, the director directly owned 904,305 shares in the company, valued at approximately $82,924,768.50. The trade was a 9.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marc Vandiepenbeeck sold 28,289 shares of the company’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 transaction of $2,572,035.88. Following the transaction, the chief financial officer directly owned 147,673 shares of the company’s stock, valued at $13,426,429.16. This trade represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,133 shares of company stock valued at $13,581,520 in the last quarter. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Johnson Controls International

A number of hedge funds have recently made changes to their positions in JCI. Resonant Capital Advisors LLC increased its holdings in shares of Johnson Controls International by 16.4% during the 2nd quarter. Resonant Capital Advisors LLC now owns 4,518 shares of the company’s stock worth $479,000 after buying an additional 636 shares during the last quarter. Wealthfront Advisers LLC grew its position in Johnson Controls International by 34.2% during the second quarter. Wealthfront Advisers LLC now owns 62,401 shares of the company’s stock valued at $6,591,000 after acquiring an additional 15,890 shares during the period. Atlatl Advisers LLC increased its stake in Johnson Controls International by 19.0% during the second quarter. Atlatl Advisers LLC now owns 5,534 shares of the company’s stock worth $585,000 after acquiring an additional 885 shares during the last quarter. Topsail Wealth Management LLC purchased a new position in shares of Johnson Controls International in the 2nd quarter worth about $231,000. Finally, Interchange Capital Partners LLC purchased a new position in shares of Johnson Controls International in the 2nd quarter worth about $219,000. 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.