Cowen Lowers Johnson Controls International plc Ordinary Share (NYSE:JCI) to Market Perform

Cowen downgraded shares of Johnson Controls International plc Ordinary Share (NYSE:JCI) from an outperform rating to a market perform rating in a report published on Thursday, January 18th, MarketBeat.com reports. Cowen currently has $42.00 price objective on the auto parts company’s stock, down from their previous price objective of $44.00.

A number of other research firms have also commented on JCI. Oppenheimer restated a buy rating and issued a $50.00 price objective (down from $52.00) on shares of Johnson Controls International plc Ordinary Share in a research note on Tuesday, October 31st. JMP Securities set a $50.00 price objective on shares of Johnson Controls International plc Ordinary Share and gave the company a buy rating in a research note on Monday, October 23rd. Citigroup restated a buy rating and issued a $50.00 price objective (up from $47.00) on shares of Johnson Controls International plc Ordinary Share in a research note on Monday, October 9th. Morgan Stanley set a $48.00 price objective on shares of Johnson Controls International plc Ordinary Share and gave the company an overweight rating in a research note on Monday, October 2nd. Finally, Robert W. Baird lowered shares of Johnson Controls International plc Ordinary Share from an outperform rating to a neutral rating and dropped their price target for the stock from $48.00 to $42.00 in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $46.50.

Johnson Controls International plc Ordinary Share (JCI) traded up $1.12 during trading hours on Thursday, hitting $37.41. 8,824,876 shares of the company’s stock traded hands, compared to its average volume of 6,800,000. The firm has a market capitalization of $33,610.00, a P/E ratio of 23.83, a price-to-earnings-growth ratio of 1.20 and a beta of 0.81. The company has a current ratio of 1.11, a quick ratio of 0.80 and a debt-to-equity ratio of 0.51. Johnson Controls International plc Ordinary Share has a fifty-two week low of $34.51 and a fifty-two week high of $44.37.

Johnson Controls International plc Ordinary Share (NYSE:JCI) last announced its quarterly earnings results on Wednesday, January 31st. The auto parts company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Johnson Controls International plc Ordinary Share had a net margin of 5.92% and a return on equity of 11.73%. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.19 billion. During the same period in the previous year, the company earned $0.53 earnings per share. Johnson Controls International plc Ordinary Share’s quarterly revenue was up 4.8% compared to the same quarter last year. research analysts expect that Johnson Controls International plc Ordinary Share will post 2.79 earnings per share for the current fiscal year.

Johnson Controls International plc Ordinary Share announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO George Oliver acquired 27,300 shares of Johnson Controls International plc Ordinary Share stock in a transaction that occurred on Friday, November 24th. The shares were acquired at an average price of $36.80 per share, with a total value of $1,004,640.00. Following the completion of the purchase, the chief executive officer now owns 634,732 shares of the company’s stock, valued at approximately $23,358,137.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jeffrey M. Williams sold 27,734 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $40.00, for a total transaction of $1,109,360.00. Following the transaction, the vice president now directly owns 201,961 shares in the company, valued at approximately $8,078,440. The disclosure for this sale can be found here. Insiders acquired 59,300 shares of company stock worth $2,161,560 in the last ninety days. Insiders own 0.43% of the company’s stock.

A number of large investors have recently bought and sold shares of JCI. Dodge & Cox increased its position in shares of Johnson Controls International plc Ordinary Share by 83.5% in the second quarter. Dodge & Cox now owns 57,851,274 shares of the auto parts company’s stock worth $2,508,431,000 after acquiring an additional 26,319,624 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Johnson Controls International plc Ordinary Share by 5.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 45,423,316 shares of the auto parts company’s stock worth $1,830,106,000 after acquiring an additional 2,537,865 shares in the last quarter. Capital World Investors increased its position in shares of Johnson Controls International plc Ordinary Share by 4.7% in the second quarter. Capital World Investors now owns 42,405,917 shares of the auto parts company’s stock worth $1,838,721,000 after acquiring an additional 1,917,892 shares in the last quarter. American Century Companies Inc. increased its position in shares of Johnson Controls International plc Ordinary Share by 8.6% in the third quarter. American Century Companies Inc. now owns 14,430,474 shares of the auto parts company’s stock worth $581,404,000 after acquiring an additional 1,141,974 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Johnson Controls International plc Ordinary Share by 31.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 11,885,205 shares of the auto parts company’s stock worth $478,855,000 after acquiring an additional 2,812,690 shares in the last quarter. 89.19% of the stock is currently owned by institutional investors.

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About Johnson Controls International plc Ordinary Share

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.

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