Johnson Controls International (NYSE:JCI) Shares Gap Up to $68.60

Johnson Controls International plc (NYSE:JCI) gapped up before the market opened on Tuesday . The stock had previously closed at $68.60, but opened at $70.42. Johnson Controls International shares last traded at $69.79, with a volume of 869,093 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley initiated coverage on Johnson Controls International in a research report on Friday. They set an “overweight” rating and a $85.00 price objective for the company. Barclays dropped 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 research report on Wednesday, July 10th. The Goldman Sachs Group increased their price objective on shares of Johnson Controls International from $73.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company increased their price target on Johnson Controls International from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Johnson Controls International has an average rating of “Hold” and a consensus target price of $70.21.

Johnson Controls International Price Performance

The firm has a market cap of $46.59 billion, a PE ratio of 27.78, a PEG ratio of 1.83 and a beta of 1.29. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $69.10 and a 200-day moving average of $67.03.

Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.06. The company had revenue of $7.23 billion for 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%. Johnson Controls International’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 earnings per share. As a group, research analysts predict that Johnson Controls International plc will post 3.67 earnings per share for the current year.

Johnson Controls International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Monday, June 24th were issued a dividend of $0.37 per share. The ex-dividend date was Monday, June 24th. This represents a $1.48 dividend on an annualized basis and a yield of 2.12%. Johnson Controls International’s dividend payout ratio is presently 59.92%.

Insider Transactions at Johnson Controls International

In other Johnson Controls International news, COO Nathan D. Manning sold 1,167 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $70.71, for a total transaction of $82,518.57. Following the transaction, the chief operating officer now directly owns 103,866 shares of the company’s stock, valued at approximately $7,344,364.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 4,245 shares of company stock worth $295,442. 0.69% of the stock is currently owned by insiders.

Institutional Trading of Johnson Controls International

A number of hedge funds and other institutional investors have recently modified their holdings of JCI. United Services Automobile Association boosted its holdings in Johnson Controls International by 7.9% in the fourth quarter. United Services Automobile Association now owns 20,376 shares of the company’s stock worth $1,174,000 after acquiring an additional 1,490 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Johnson Controls International by 27.6% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 79,840 shares of the company’s stock valued at $4,602,000 after purchasing an additional 17,263 shares during the last quarter. M&G Plc bought a new stake in Johnson Controls International during the 1st quarter valued at about $120,948,000. Vanguard Group Inc. increased its stake in Johnson Controls International by 17.3% during the 4th quarter. Vanguard Group Inc. now owns 71,387,169 shares of the company’s stock valued at $4,114,756,000 after purchasing an additional 10,522,009 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in Johnson Controls International by 33.1% in the fourth quarter. D.A. Davidson & CO. now owns 26,919 shares of the company’s stock worth $1,552,000 after buying an additional 6,697 shares during the last quarter. 90.05% of the stock is owned by hedge funds and other 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.