Tyco International Ltd. (NYSE:JCI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “Johnson Controls’ merger with Tyco has created a leading global multi-industrial company named Johnson Controls International plc. The combined company is expected to generate revenues of $30 billion annually. Johnson Controls expects market expansion, acquisitions and strategic contracts to improve its performance and boost earnings. However, currency headwinds and stiff competition are some concerns. Johnson Controls’ earnings estimates have inched down lately, albeit still significantly higher than 30 days ago. The company has a mostly positive record of earnings surprises in recent quarters.”

Several other research firms have also recently issued reports on JCI. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $52.00 price objective (up previously from $51.00) on shares of Tyco International in a report on Wednesday, September 7th. Morgan Stanley set a $55.00 price objective on Tyco International and gave the stock a “buy” rating in a report on Tuesday, September 6th. Atlantic Securities restated an “overweight” rating on shares of Tyco International in a report on Friday, September 9th. TheStreet cut Tyco International from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Finally, Macquarie upgraded Tyco International from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $43.00 to $55.00 in a report on Thursday, September 8th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $50.69.

Shares of Tyco International (NYSE:JCI) opened at 44.55 on Tuesday. The stock has a market cap of $28.41 billion, a P/E ratio of 44.24 and a beta of 1.11. The firm’s 50-day moving average price is $47.63 and its 200 day moving average price is $44.95. Tyco International has a one year low of $31.73 and a one year high of $50.65.

Tyco International (NYSE:JCI) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.04. The company earned $9.50 billion during the quarter, compared to the consensus estimate of $9.62 billion. Tyco International had a return on equity of 20.59% and a net margin of 5.45%. Tyco International’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. Equities research analysts expect that Tyco International will post $2.09 EPS for the current fiscal year.

In related news, VP R Bruce Mcdonald sold 98,166 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $44.95, for a total value of $4,412,561.70. Following the completion of the sale, the vice president now directly owns 100,766 shares of the company’s stock, valued at $4,529,431.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Southpoint Capital Advisors LP purchased a new stake in shares of Tyco International during the first quarter valued at $175,365,000. Emerald Acquisition Ltd. purchased a new stake in shares of Tyco International during the second quarter valued at $122,982,000. Sasco Capital Inc. CT purchased a new stake in shares of Tyco International during the second quarter valued at $106,959,000. BlueMountain Capital Management LLC raised its stake in shares of Tyco International by 382.2% in the second quarter. BlueMountain Capital Management LLC now owns 3,026,206 shares of the company’s stock valued at $133,940,000 after buying an additional 2,398,648 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Tyco International by 266.5% in the first quarter. JPMorgan Chase & Co. now owns 3,238,173 shares of the company’s stock valued at $126,191,000 after buying an additional 2,354,616 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.

Tyco International Company Profile

Johnson Controls, Inc is a technology company. The Company provides products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles, and seating and interior systems for automobiles. The Company operates in two segments: Building Efficiency and Power Solutions.

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