Johnson Controls International (NYSE:JCI) Price Target Raised to $61.00 at Royal Bank of Canada

Johnson Controls International (NYSE:JCI) had its price target boosted by investment analysts at Royal Bank of Canada from $54.00 to $61.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential downside of 13.29% from the stock’s previous close.

Several other research firms have also recently commented on JCI. Oppenheimer lifted their target price on shares of Johnson Controls International from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. 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. The Goldman Sachs Group lifted their price target on shares of Johnson Controls International from $66.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Barclays lowered their price target on shares of Johnson Controls International from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Citigroup lifted their price target on shares of Johnson Controls International from $59.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.08.

Johnson Controls International Stock Down 1.7 %

Shares of JCI traded down $1.19 during trading hours on Thursday, hitting $70.35. The stock had a trading volume of 1,523,338 shares, compared to its average volume of 5,358,653. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.87 and a quick ratio of 0.65. The firm has a 50 day simple moving average of $69.43 and a 200-day simple moving average of $64.19. The firm has a market capitalization of $47.39 billion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. Johnson Controls International has a 1-year low of $47.90 and a 1-year high of $75.36.

Johnson Controls International (NYSE:JCI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The business had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.53 billion. Johnson Controls International had a return on equity of 13.21% and a net margin of 6.32%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 EPS. Sell-side analysts predict that Johnson Controls International will post 3.58 EPS for the current fiscal year.

Insider Activity

In related news, COO Nathan D. Manning sold 1,167 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $66.01, for a total value of $77,033.67. Following the completion of the transaction, the chief operating officer now directly owns 104,556 shares in the company, valued at $6,901,741.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Nathan D. Manning sold 1,167 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $66.01, for a total value of $77,033.67. Following the completion of the transaction, the chief operating officer now directly owns 104,556 shares in the company, valued at $6,901,741.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Daniel C. Mcconeghy sold 9,342 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $65.50, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 18,067 shares of company stock worth $1,163,404 in the last three months. Corporate insiders own 0.69% of the company’s stock.

Institutional Trading of Johnson Controls International

Several hedge funds have recently added to or reduced their stakes in JCI. Vanguard Group Inc. lifted its stake in Johnson Controls International by 17.3% in the fourth 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 last quarter. Capital World Investors lifted its stake 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 purchasing an additional 6,520,580 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Johnson Controls International by 95.9% in the first quarter. Bank of New York Mellon Corp now owns 12,760,120 shares of the company’s stock worth $833,491,000 after purchasing an additional 6,247,250 shares during the last quarter. Norges Bank bought a new stake in Johnson Controls International in the fourth quarter worth $316,400,000. Finally, Clean Energy Transition LLP bought a new stake in Johnson Controls International in the fourth quarter worth $124,553,000. 90.05% of the stock is owned by institutional investors.

About Johnson Controls International

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.