Johnson Controls International (NYSE:JCI) Sets New 52-Week High After Strong Earnings

Johnson Controls International plc (NYSE:JCI) reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $75.36 and last traded at $74.26, with a volume of 1450922 shares trading hands. The stock had previously closed at $69.03.

The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. Johnson Controls International had a net margin of 6.32% and a return on equity of 13.21%. The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the business earned $1.03 EPS. Johnson Controls International’s revenue for the quarter was up 1.4% compared to the same quarter last year.

Johnson Controls International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Monday, June 24th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Monday, June 24th. Johnson Controls International’s payout ratio is currently 59.92%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Johnson Controls International from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Oppenheimer raised their price objective on shares of Johnson Controls International from $70.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, June 27th. Barclays reduced their price objective on shares of Johnson Controls International from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group lifted their target price on shares of Johnson Controls International from $66.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Citigroup lifted their target price on shares of Johnson Controls International from $59.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Johnson Controls International currently has a consensus rating of “Hold” and a consensus target price of $65.23.

Insider Activity

In other news, VP Daniel C. Mcconeghy sold 9,342 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $65.50, for a total value of $611,901.00. Following the completion of the transaction, the vice president now owns 25,378 shares of the company’s stock, valued at $1,662,259. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, VP Daniel C. Mcconeghy sold 9,342 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $65.50, for a total value of $611,901.00. Following the completion of the sale, the vice president now directly owns 25,378 shares in the company, valued at $1,662,259. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Juergen Tinggren sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $62.31, for a total transaction of $249,240.00. Following the completion of the sale, the director now owns 30,120 shares of the company’s stock, valued at $1,876,777.20. The disclosure for this sale can be found here. Insiders sold a total of 18,067 shares of company stock valued at $1,163,404 over the last 90 days. Insiders own 0.69% of the company’s stock.

Institutional Trading of Johnson Controls International

Several institutional investors have recently added to or reduced their stakes in JCI. Turtle Creek Wealth Advisors LLC bought a new position in shares of Johnson Controls International during the fourth quarter worth about $25,000. Rise Advisors LLC bought a new position in Johnson Controls International in the 1st quarter valued at about $25,000. EdgeRock Capital LLC bought a new position in shares of Johnson Controls International during the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC boosted its position in shares of Johnson Controls International by 114.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 503 shares of the company’s stock valued at $29,000 after purchasing an additional 268 shares in the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of Johnson Controls International by 65.2% in the second quarter. Continuum Advisory LLC now owns 527 shares of the company’s stock worth $35,000 after buying an additional 208 shares during the period. 90.05% of the stock is owned by institutional investors and hedge funds.

Johnson Controls International Stock Performance

The firm’s fifty day simple moving average is $69.47 and its 200 day simple moving average is $64.14. The company has a market capitalization of $49.90 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.87 and a quick ratio of 0.65.

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.