Johnson Controls International PLC (NYSE:JCI) Announces $0.26 Quarterly Dividend
Johnson Controls International PLC (NYSE:JCI) declared a quarterly dividend on Wednesday, June 12th, RTT News reports. Investors of record on Monday, June 24th will be paid a dividend of 0.26 per share on Friday, July 12th. This represents a $1.04 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Friday, June 21st.
Johnson Controls International has a payout ratio of 37.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Johnson Controls International to earn $2.56 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 40.6%.
Shares of Johnson Controls International stock opened at $39.95 on Friday. The company has a market capitalization of $35.88 billion, a P/E ratio of 14.12, a P/E/G ratio of 2.15 and a beta of 0.94. The company has a quick ratio of 0.80, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. Johnson Controls International has a 52 week low of $28.30 and a 52 week high of $40.33.
In other news, VP Robert M. Vanhimbergen sold 3,907 shares of Johnson Controls International stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $39.33, for a total transaction of $153,662.31. Following the completion of the transaction, the vice president now directly owns 26,094 shares of the company’s stock, valued at approximately $1,026,277.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George Oliver sold 11,425 shares of Johnson Controls International stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $39.53, for a total transaction of $451,630.25. Following the transaction, the chief executive officer now directly owns 865,142 shares of the company’s stock, valued at $34,199,063.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,865 shares of company stock valued at $7,308,261. Insiders own 0.50% of the company’s stock.
Johnson Controls International declared that its Board of Directors has approved a stock buyback plan on Thursday, March 7th that authorizes the company to repurchase $8.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 26% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
A number of research firms have issued reports on JCI. Credit Suisse Group began coverage on shares of Johnson Controls International in a research report on Monday, May 13th. They set a “neutral” rating and a $42.00 price target for the company. TheStreet raised shares of Johnson Controls International from a “c+” rating to a “b-” rating in a research report on Thursday, May 9th. Citigroup began coverage on shares of Johnson Controls International in a research report on Wednesday, June 5th. They set a “buy” rating and a $45.00 price target for the company. Zacks Investment Research lowered shares of Johnson Controls International from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Barclays began coverage on shares of Johnson Controls International in a research report on Wednesday. They set an “equal weight” rating and a $39.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Johnson Controls International presently has a consensus rating of “Hold” and an average price target of $39.64.
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Johnson Controls International Company Profile
Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The company operates through Building Technologies & Solutions and Power Solutions segments. The company designs, sells, installs, and services heating, ventilating, and air conditioning systems, controls systems, integrated electronic security systems, 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, to non-residential building and industrial applications.
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