Johnson Controls International (NYSE:JCI) Board Authorizes Share Repurchase Program

Johnson Controls International (NYSE:JCI - Get Free Report) announced that its Board of Directors has approved a share buyback plan on Friday, June 13th, RTT News reports. The company plans to buyback $9.00 billion in shares. This buyback authorization allows the company to repurchase up to 13.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Johnson Controls International Price Performance

JCI traded up $2.46 during trading on Monday, reaching $104.43. The stock had a trading volume of 6,168,527 shares, compared to its average volume of 4,677,877. The business has a 50-day moving average of $90.70 and a 200-day moving average of $84.88. Johnson Controls International has a one year low of $64.31 and a one year high of $105.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.86 and a current ratio of 1.02. The stock has a market cap of $68.72 billion, a PE ratio of 39.86, a PEG ratio of 1.96 and a beta of 1.33.

Johnson Controls International (NYSE:JCI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. The company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.64 billion. Johnson Controls International had a return on equity of 15.11% and a net margin of 6.83%. Johnson Controls International's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. As a group, equities research analysts anticipate that Johnson Controls International will post 3.64 EPS for the current fiscal year.

Johnson Controls International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 23rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $1.48 annualized dividend and a dividend yield of 1.42%. Johnson Controls International's payout ratio is presently 39.47%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on JCI shares. Vertical Research upgraded Johnson Controls International from a "hold" rating to a "buy" rating and set a $105.00 price target for the company in a research note on Thursday, May 8th. Robert W. Baird increased their target price on shares of Johnson Controls International from $84.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. UBS Group restated a "buy" rating and set a $116.00 target price (up previously from $103.00) on shares of Johnson Controls International in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised their price target on Johnson Controls International from $81.00 to $98.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Royal Bank of Canada lifted their price target on Johnson Controls International from $82.00 to $98.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $97.88.

Insider Buying and Selling

In related news, VP Anuruddha Rathninde sold 15,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $103.13, for a total transaction of $1,546,950.00. Following the transaction, the vice president now owns 42,574 shares in the company, valued at $4,390,656.62. The trade was a 26.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Oliver sold 100,000 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $91.70, for a total transaction of $9,170,000.00. Following the completion of the sale, the director now owns 904,305 shares of the company's stock, valued at $82,924,768.50. This trade represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,555 shares of company stock valued at $13,669,414 over the last ninety days. 0.54% of the stock is owned by insiders.

Johnson Controls International Company Profile

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.