Johnson Controls International plc (NYSE:JCI – Get Free Report)’s stock price gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $56.57, but opened at $54.51. Johnson Controls International shares last traded at $53.46, with a volume of 2,467,769 shares trading hands.
The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.04). The company had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $6.40 billion. Johnson Controls International had a net margin of 7.74% and a return on equity of 13.69%. Johnson Controls International’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share.
Johnson Controls International Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Monday, December 18th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $1.48 annualized dividend and a dividend yield of 2.78%. Johnson Controls International’s payout ratio is presently 49.50%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on JCI shares. Wells Fargo & Company cut their price objective on shares of Johnson Controls International from $67.00 to $62.00 in a research note on Monday, October 9th. HSBC raised shares of Johnson Controls International from a “hold” rating to a “buy” rating and increased their price target for the stock from $58.00 to $69.00 in a report on Wednesday, September 27th. Barclays lowered their price target on shares of Johnson Controls International from $66.00 to $64.00 in a report on Wednesday, September 20th. Morgan Stanley lowered their price target on shares of Johnson Controls International from $73.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, September 22nd. Finally, TheStreet downgraded shares of Johnson Controls International from a “b” rating to a “c+” rating in a report on Thursday, October 26th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Johnson Controls International has a consensus rating of “Moderate Buy” and an average price target of $68.33.
Insider Transactions at Johnson Controls International
In other news, CEO George Oliver sold 103,332 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $52.30, for a total value of $5,404,263.60. Following the transaction, the chief executive officer now directly owns 980,403 shares of the company’s stock, valued at $51,275,076.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.71% of the company’s stock.
Institutional Investors Weigh In On Johnson Controls International
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Johnson Controls International during the fourth quarter valued at about $419,897,000. Cullen Capital Management LLC purchased a new position in shares of Johnson Controls International in the first quarter valued at approximately $204,537,000. Morgan Stanley boosted its stake in shares of Johnson Controls International by 40.7% in the fourth quarter. Morgan Stanley now owns 9,990,590 shares of the company’s stock valued at $639,398,000 after purchasing an additional 2,890,395 shares during the period. Raymond James & Associates boosted its stake in shares of Johnson Controls International by 405.1% in the second quarter. Raymond James & Associates now owns 3,232,338 shares of the company’s stock valued at $220,251,000 after purchasing an additional 2,592,448 shares during the period. Finally, abrdn plc boosted its stake in shares of Johnson Controls International by 100.6% in the second quarter. abrdn plc now owns 4,558,835 shares of the company’s stock valued at $310,639,000 after purchasing an additional 2,286,227 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.
Johnson Controls International Trading Down 6.0 %
The company’s 50 day moving average price is $51.77 and its 200 day moving average price is $58.63. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.08 and a quick ratio of 0.80. The firm has a market cap of $36.18 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25.
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.