Johnson Controls International (NYSE:JCI) Given New $66.00 Price Target at Credit Suisse Group

Johnson Controls International (NYSE:JCI) had its price objective lifted by Credit Suisse Group from $64.00 to $66.00 in a research note published on Monday morning, Price Targets.com reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on the company. Robert W. Baird lifted their price target on Johnson Controls International from $56.00 to $66.00 and gave the company a neutral rating in a research note on Tuesday, April 13th. Royal Bank of Canada lowered shares of Johnson Controls International from an outperform rating to a sector perform rating and set a $66.00 price target on the stock. in a research report on Wednesday, March 31st. HSBC lowered Johnson Controls International from a buy rating to a hold rating and set a $52.00 target price on the stock. in a research report on Monday, January 11th. OTR Global upgraded shares of Johnson Controls International from a mixed rating to a positive rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Johnson Controls International from $62.00 to $68.00 and gave the company a hold rating in a research note on Monday. Ten analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Johnson Controls International currently has an average rating of Buy and an average price target of $55.33.

Shares of NYSE JCI opened at $63.89 on Monday. Johnson Controls International has a fifty-two week low of $26.23 and a fifty-two week high of $64.09. The company has a market cap of $45.97 billion, a price-to-earnings ratio of 75.17, a PEG ratio of 2.64 and a beta of 1.00. The business’s 50 day moving average price is $61.24 and its 200-day moving average price is $52.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.22.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Thursday, April 29th. The company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. The firm had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Johnson Controls International had a return on equity of 8.72% and a net margin of 2.83%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. Sell-side analysts predict that Johnson Controls International will post 2.47 earnings per share for the current year.

Johnson Controls International announced that its board has authorized a share repurchase plan on Thursday, March 11th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 16th. Shareholders of record on Monday, March 22nd were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 19th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Johnson Controls International’s previous quarterly dividend of $0.26. Johnson Controls International’s dividend payout ratio (DPR) is currently 48.21%.

In other news, VP Sreeganesh Ramaswamy sold 5,000 shares of the firm’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $56.09, for a total value of $280,450.00. Following the transaction, the vice president now directly owns 61,864 shares in the company, valued at approximately $3,469,951.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert M. Vanhimbergen sold 13,500 shares of Johnson Controls International stock in a transaction that occurred on Wednesday, March 3rd. The stock was sold at an average price of $57.67, for a total transaction of $778,545.00. Following the transaction, the vice president now directly owns 46,923 shares in the company, valued at approximately $2,706,049.41. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

A number of hedge funds have recently bought and sold shares of JCI. BlackRock Inc. increased its position in Johnson Controls International by 2.8% during the fourth quarter. BlackRock Inc. now owns 54,028,416 shares of the company’s stock worth $2,517,184,000 after buying an additional 1,472,593 shares during the last quarter. Aristotle Capital Management LLC boosted its stake in shares of Johnson Controls International by 4.3% in the fourth quarter. Aristotle Capital Management LLC now owns 17,881,302 shares of the company’s stock valued at $833,090,000 after buying an additional 734,151 shares during the period. Norges Bank bought a new stake in Johnson Controls International during the fourth quarter worth $295,934,000. Amundi Pioneer Asset Management Inc. lifted its stake in Johnson Controls International by 41.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,975,605 shares of the company’s stock worth $278,397,000 after purchasing an additional 1,742,143 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in Johnson Controls International by 7.8% during the 4th quarter. UBS Asset Management Americas Inc. now owns 4,262,397 shares of the company’s stock worth $198,585,000 after purchasing an additional 309,126 shares during the last quarter. Hedge funds and other institutional investors own 89.61% of the company’s stock.

About Johnson Controls International

Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. It operates through Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products segments. The company designs, sells, installs, and services heating, ventilating, air conditioning, controls, refrigeration, integrated electronic security, and integrated fire detection and suppression systems for commercial, industrial, retail, small business, institutional, and governmental customers; and energy efficiency solutions and technical services, including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems, as well as data-driven smart building solutions to non-residential building and industrial applications.

Further Reading: Rule of 72

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