Morgan Stanley Reiterates “Overweight” Rating for Johnson Controls International PLC (JCI)

Johnson Controls International PLC (NYSE:JCI)‘s stock had its “overweight” rating restated by stock analysts at Morgan Stanley in a research note issued on Monday. They currently have a $51.00 price objective on the auto parts company’s stock, up from their prior price objective of $50.00. Morgan Stanley’s price target suggests a potential upside of 18.38% from the company’s current price.

A number of other research analysts have also commented on the company. ValuEngine lowered Johnson Controls International PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. HSBC Holdings plc began coverage on Johnson Controls International PLC in a report on Friday, March 31st. They set a “buy” rating and a $50.00 price target for the company. Susquehanna Bancshares Inc upgraded Johnson Controls International PLC from a “neutral” rating to a “positive” rating and upped their price target for the stock from $47.00 to $49.00 in a report on Monday, March 20th. They noted that the move was a valuation call. JMP Securities began coverage on Johnson Controls International PLC in a report on Monday, June 19th. They set an “outperform” rating and a $54.00 price target for the company. Finally, Zacks Investment Research lowered Johnson Controls International PLC from a “hold” rating to a “sell” rating in a report on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $50.70.

Johnson Controls International PLC (NYSE JCI) opened at 43.08 on Monday. The stock’s market cap is $40.41 billion. Johnson Controls International PLC has a 1-year low of $39.16 and a 1-year high of $48.97. The firm’s 50-day moving average price is $41.99 and its 200 day moving average price is $42.10.

Johnson Controls International PLC (NYSE:JCI) last posted its earnings results on Thursday, April 27th. The auto parts company reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. Johnson Controls International PLC had a positive return on equity of 11.97% and a negative net margin of 1.69%. The firm had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same period in the previous year, the company earned $0.86 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that Johnson Controls International PLC will post $2.63 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Wednesday, June 28th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Monday, June 26th. Johnson Controls International PLC’s payout ratio is presently -194.70%.

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In other news, CEO Alex A. Molinaroli sold 6,335 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $41.96, for a total transaction of $265,816.60. Following the sale, the chief executive officer now owns 1,296,407 shares in the company, valued at $54,397,237.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Dodge & Cox purchased a new position in Johnson Controls International PLC during the fourth quarter valued at about $1,310,860,000. Lazard Asset Management LLC boosted its position in Johnson Controls International PLC by 20.1% in the first quarter. Lazard Asset Management LLC now owns 11,231,816 shares of the auto parts company’s stock valued at $473,083,000 after buying an additional 1,883,034 shares in the last quarter. OppenheimerFunds Inc. boosted its position in Johnson Controls International PLC by 31.3% in the first quarter. OppenheimerFunds Inc. now owns 11,209,265 shares of the auto parts company’s stock valued at $472,135,000 after buying an additional 2,670,778 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Johnson Controls International PLC by 19.2% in the first quarter. Bank of New York Mellon Corp now owns 9,214,364 shares of the auto parts company’s stock valued at $388,108,000 after buying an additional 1,483,178 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Johnson Controls International PLC by 9.3% in the first quarter. Geode Capital Management LLC now owns 9,137,888 shares of the auto parts company’s stock valued at $384,341,000 after buying an additional 780,842 shares in the last quarter. Institutional investors and hedge funds own 84.09% of the company’s stock.

About Johnson Controls International PLC

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.

Analyst Recommendations for Johnson Controls International PLC (NYSE:JCI)

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