Johnson Controls International (NYSE:JCI) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Johnson Controls International (NYSE:JCI) from a strong-buy rating to a hold rating in a research note released on Thursday,Zacks.com reports.

JCI has been the topic of several other reports. Citigroup increased their price objective on shares of Johnson Controls International from $155.00 to $157.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. The Goldman Sachs Group upped their target price on Johnson Controls International from $169.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Jefferies Financial Group raised their price target on shares of Johnson Controls International from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, April 15th. Sanford C. Bernstein initiated coverage on Johnson Controls International in a report on Tuesday, June 9th. They set an “outperform” rating and a $176.00 price objective on the stock. Finally, Wells Fargo & Company raised their price target on shares of Johnson Controls International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Johnson Controls International presently has an average rating of “Moderate Buy” and an average price target of $154.80.

Johnson Controls International Stock Down 1.4%

JCI opened at $152.43 on Thursday. The firm has a market cap of $92.33 billion, a P/E ratio of 26.51, a PEG ratio of 1.49 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.00 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $143.93 and its 200 day simple moving average is $138.42. Johnson Controls International has a 52 week low of $103.07 and a 52 week high of $157.06.

Johnson Controls International (NYSE:JCI) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.12. Johnson Controls International had a net margin of 14.32% and a return on equity of 22.11%. The company had revenue of $6.61 billion for the quarter, compared to analysts’ expectations of $6.46 billion. During the same period last year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Johnson Controls International will post 5.08 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Monday, June 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, June 15th. Johnson Controls International’s payout ratio is currently 27.83%.

Insider Buying and Selling

In other news, VP Todd M. Grabowski sold 1,800 shares of Johnson Controls International stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $146.20, for a total value of $263,160.00. Following the completion of the transaction, the vice president owned 26,215 shares in the company, valued at approximately $3,832,633. This trade represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lei Zhang Schlitz sold 23,417 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $153.07, for a total value of $3,584,440.19. Following the completion of the sale, the vice president owned 15,017 shares of the company’s stock, valued at $2,298,652.19. This trade represents a 60.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Johnson Controls International

A number of institutional investors have recently modified their holdings of JCI. Norges Bank acquired a new stake in shares of Johnson Controls International in the fourth quarter valued at approximately $927,739,000. Viking Global Investors LP raised its stake in shares of Johnson Controls International by 368.5% in the 3rd quarter. Viking Global Investors LP now owns 6,796,942 shares of the company’s stock worth $747,324,000 after buying an additional 5,346,130 shares in the last quarter. Amundi lifted its holdings in Johnson Controls International by 157.2% in the 1st quarter. Amundi now owns 5,965,212 shares of the company’s stock valued at $781,145,000 after acquiring an additional 3,646,047 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Johnson Controls International by 140.8% during the second quarter. Ameriprise Financial Inc. now owns 4,575,414 shares of the company’s stock valued at $483,281,000 after purchasing an additional 2,675,157 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Johnson Controls International by 13.0% during the 4th quarter. Invesco Ltd. now owns 16,003,486 shares of the company’s stock valued at $1,916,417,000 after acquiring an additional 1,837,220 shares during the last quarter. Institutional investors own 90.05% of the company’s stock.

About Johnson Controls International

Johnson Controls International plc is a global diversified technology and multi‑industrial company that develops products, services and solutions for buildings and energy storage. The company’s core focus is on improving building efficiency, safety and sustainability through a combination of HVAC equipment, building controls and automation, fire and security systems, and related services. Johnson Controls traces its roots to 1885, when inventor Warren S. Johnson developed an electric room thermostat; over its long history the company has expanded from controls into a broad set of building‑related technologies and, through corporate transactions, into a global provider of integrated building solutions.

Johnson Controls’ product and service portfolio includes heating, ventilation and air‑conditioning equipment, chillers, air handlers and related mechanical systems, together with building automation and control platforms that monitor and manage energy use, indoor environmental quality and security.