Johnson Controls International (NYSE:JCI) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup has raised its price target for Johnson Controls International from $110.00 to $112.00, indicating a potential upside of 7.13% from the current stock price.
• Multiple analysts have upgraded their ratings, with Deutsche Bank shifting from "hold" to "buy" and also setting a target of $112.00.
• The company announced a substantial $9.00 billion stock repurchase program, indicating a belief that its shares are undervalued.

Johnson Controls International (NYSE:JCI - Get Free Report) had its price target lifted by Citigroup from $110.00 to $112.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price objective indicates a potential upside of 5.18% from the stock's current price.

Several other equities analysts have also commented on the stock. Morgan Stanley upped their price target on shares of Johnson Controls International from $105.00 to $115.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Robert W. Baird upped their price target on shares of Johnson Controls International from $90.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Oppenheimer lowered shares of Johnson Controls International from an "outperform" rating to a "market perform" rating in a research report on Friday, June 20th. Royal Bank Of Canada upped their price target on shares of Johnson Controls International from $112.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Johnson Controls International from $81.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $105.17.

Johnson Controls International Trading Up 1.4%

JCI stock traded up $1.48 on Wednesday, hitting $106.48. 5,337,531 shares of the company were exchanged, compared to its average volume of 4,723,141. Johnson Controls International has a twelve month low of $64.31 and a twelve month high of $112.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.81. The business's fifty day moving average is $104.82 and its two-hundred day moving average is $90.92. The stock has a market capitalization of $70.07 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.30.

Johnson Controls International (NYSE:JCI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.99 by $0.06. Johnson Controls International had a net margin of 9.53% and a return on equity of 14.71%. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.99 billion. As a group, research analysts forecast that Johnson Controls International will post 3.64 earnings per share for the current year.

Johnson Controls International declared that its Board of Directors has authorized a stock repurchase plan on Friday, June 13th that permits the company to repurchase $9.00 billion in shares. This repurchase authorization permits the company to repurchase up to 13.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity

In other news, VP Anuruddha Rathninde sold 15,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $103.13, for a total value of $1,546,950.00. Following the completion of the transaction, the vice president directly owned 42,574 shares in the company, valued at approximately $4,390,656.62. This represents a 26.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marc Vandiepenbeeck sold 28,289 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $90.92, for a total transaction of $2,572,035.88. Following the transaction, the chief financial officer directly owned 147,673 shares of the company's stock, valued at approximately $13,426,429.16. This represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,133 shares of company stock valued at $13,581,520 over the last ninety days. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in JCI. Nuveen LLC acquired a new position in Johnson Controls International during the 1st quarter worth $219,110,000. Invesco Ltd. grew its holdings in Johnson Controls International by 13.2% during the 4th quarter. Invesco Ltd. now owns 18,407,597 shares of the company's stock worth $1,452,912,000 after acquiring an additional 2,150,573 shares in the last quarter. AQR Capital Management LLC grew its holdings in Johnson Controls International by 747.6% during the 1st quarter. AQR Capital Management LLC now owns 2,034,060 shares of the company's stock worth $159,186,000 after acquiring an additional 1,794,089 shares in the last quarter. Jennison Associates LLC grew its holdings in Johnson Controls International by 232.4% during the 2nd quarter. Jennison Associates LLC now owns 2,124,125 shares of the company's stock worth $224,350,000 after acquiring an additional 1,485,007 shares in the last quarter. Finally, Alkeon Capital Management LLC acquired a new position in Johnson Controls International during the 1st quarter worth $112,154,000. 90.05% of the stock is owned by institutional investors and hedge funds.

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.