Johnson Controls International plc (NYSE:JCI) - Equities researchers at Oppenheimer issued their FY2023 EPS estimates for Johnson Controls International in a research note issued on Thursday, June 10th. Oppenheimer analyst N. Kaye forecasts that the company will earn $3.53 per share for the year.
JCI has been the topic of several other reports. Royal Bank of Canada lowered Johnson Controls International from an "outperform" rating to a "sector perform" rating and set a $66.00 price objective on the stock. in a research report on Wednesday, March 31st. OTR Global raised shares of Johnson Controls International from a "mixed" rating to a "positive" rating in a research note on Tuesday, April 27th. Barclays upgraded shares of Johnson Controls International from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $67.00 to $75.00 in a report on Wednesday, May 26th. JPMorgan Chase & Co. raised shares of Johnson Controls International from a "neutral" rating to an "overweight" rating and increased their target price for the company from $50.00 to $75.00 in a report on Tuesday. Finally, Robert W. Baird boosted their price target on shares of Johnson Controls International from $56.00 to $66.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 13th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of "Buy" and a consensus price target of $57.94.
NYSE JCI opened at $66.98 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.17 and a debt-to-equity ratio of 0.39. The company's 50-day moving average price is $63.90. Johnson Controls International has a twelve month low of $32.70 and a twelve month high of $68.33. The stock has a market capitalization of $48.01 billion, a P/E ratio of 45.88, a price-to-earnings-growth ratio of 3.15 and a beta of 1.08. Johnson Controls International (NYSE:JCI) last posted its quarterly earnings data on Thursday, April 29th. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.49 by $0.03. Johnson Controls International had a net margin of 4.74% and a return on equity of 9.31%. The firm had revenue of $5.59 billion for the quarter, compared to analysts' expectations of $5.56 billion. During the same quarter last year, the company posted $0.42 EPS. The business's quarterly revenue was up 2.8% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP lifted its holdings in shares of Johnson Controls International by 53.4% during the fourth quarter. First Trust Advisors LP now owns 321,151 shares of the company's stock valued at $14,962,000 after purchasing an additional 111,787 shares in the last quarter. Flputnam Investment Management Co. purchased a new stake in shares of Johnson Controls International during the 4th quarter valued at about $222,000. Maryland State Retirement & Pension System bought a new stake in shares of Johnson Controls International in the fourth quarter worth approximately $574,000. Founders Financial Alliance LLC raised its holdings in shares of Johnson Controls International by 431.7% during the fourth quarter. Founders Financial Alliance LLC now owns 6,274 shares of the company's stock valued at $291,000 after purchasing an additional 5,094 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Johnson Controls International by 11.6% during the fourth quarter. US Bancorp DE now owns 49,681 shares of the company's stock valued at $2,316,000 after purchasing an additional 5,153 shares during the last quarter. Hedge funds and other institutional investors own 88.38% of the company's stock.
In other news, CEO George Oliver sold 176,754 shares of the stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $66.36, for a total value of $11,729,395.44. Following the sale, the chief executive officer now directly owns 1,315,351 shares of the company's stock, valued at $87,286,692.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP John Donofrio sold 40,000 shares of the firm's stock in a transaction on Thursday, June 3rd. The shares were sold at an average price of $65.83, for a total value of $2,633,200.00. Following the transaction, the vice president now owns 33,244 shares of the company's stock, valued at $2,188,452.52. The disclosure for this sale can be found here. Insiders have sold 235,950 shares of company stock valued at $15,631,067 in the last three months. Insiders own 0.76% of the company's stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 16th. Shareholders of record on Monday, June 21st will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.61%. Johnson Controls International's dividend payout ratio (DPR) is 48.21%.
Johnson Controls International announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 11th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the company to purchase up to 9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.
About Johnson Controls International
Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. It operates through Building Solutions North America, Building Solutions EMEA/LA, Building Solutions Asia Pacific, and Global Products segments. The company designs, sells, installs, and services heating, ventilating, air conditioning, controls, refrigeration, integrated electronic security, and integrated fire detection and suppression systems for commercial, industrial, retail, small business, institutional, and governmental customers; and energy efficiency solutions and technical services, including inspection, scheduled maintenance, and repair and replacement of mechanical and control systems, as well as data-driven smart building solutions to non-residential building and industrial applications.
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