Bank of America Raises Johnson Controls International (NYSE:JCI) Price Target to $95.00

Johnson Controls International (NYSE:JCI) had its price target increased by Bank of America from $80.00 to $95.00 in a research note released on Friday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

JCI has been the topic of a number of other research reports. StockNews.com raised shares of Johnson Controls International from a hold rating to a buy rating in a research note on Friday, August 2nd. Wells Fargo & Company boosted their price objective on Johnson Controls International from $75.00 to $80.00 and gave the stock an overweight rating in a research report on Thursday, August 1st. Royal Bank of Canada raised Johnson Controls International from an underperform rating to a sector perform rating and upped their target price for the stock from $61.00 to $69.00 in a report on Wednesday, August 14th. Barclays cut their price target on Johnson Controls International from $62.00 to $61.00 and set an equal weight rating on the stock in a research note on Wednesday, July 10th. Finally, Robert W. Baird lifted their price target on shares of Johnson Controls International from $72.00 to $78.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $71.29.

Johnson Controls International Price Performance

Shares of JCI stock opened at $77.61 on Friday. The business has a fifty day simple moving average of $70.70 and a 200 day simple moving average of $68.45. The company has a market cap of $51.84 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.03 and a beta of 1.29. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.46. Johnson Controls International has a twelve month low of $47.90 and a twelve month high of $77.71.

Johnson Controls International (NYSE:JCI) last posted its earnings results on Wednesday, July 31st. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. The firm had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $7.53 billion. Johnson Controls International had a net margin of 6.02% and a return on equity of 13.64%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, sell-side analysts forecast that Johnson Controls International will post 3.67 EPS for the current fiscal year.

Johnson Controls International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Wednesday, September 25th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, September 25th. Johnson Controls International’s dividend payout ratio (DPR) is currently 59.92%.

Insiders Place Their Bets

In related news, COO Nathan D. Manning sold 1,167 shares of Johnson Controls International stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $70.71, for a total value of $82,518.57. Following the completion of the sale, the chief operating officer now owns 103,866 shares of the company’s stock, valued at approximately $7,344,364.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Nathan D. Manning sold 1,167 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $70.71, for a total transaction of $82,518.57. Following the completion of the sale, the chief operating officer now directly owns 103,866 shares of the company’s stock, valued at $7,344,364.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO George Oliver sold 110,615 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $72.67, for a total transaction of $8,038,392.05. Following the completion of the transaction, the chief executive officer now directly owns 1,243,751 shares in the company, valued at approximately $90,383,385.17. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,879 shares of company stock worth $8,270,529. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Johnson Controls International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Johnson Controls International by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 71,387,169 shares of the company’s stock worth $4,114,756,000 after purchasing an additional 10,522,009 shares during the period. Capital World Investors raised its position in Johnson Controls International by 85.5% in the first quarter. Capital World Investors now owns 14,142,736 shares of the company’s stock worth $923,804,000 after acquiring an additional 6,520,580 shares during the period. Fisher Asset Management LLC boosted its stake in Johnson Controls International by 4.7% in the fourth quarter. Fisher Asset Management LLC now owns 13,514,262 shares of the company’s stock valued at $778,962,000 after acquiring an additional 604,142 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Johnson Controls International by 8.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,855,075 shares of the company’s stock valued at $389,214,000 after acquiring an additional 479,548 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Johnson Controls International by 7.0% during the 2nd quarter. Raymond James & Associates now owns 4,485,742 shares of the company’s stock worth $298,167,000 after purchasing an additional 292,044 shares during the last quarter. Hedge funds and other institutional investors 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.