Tyco International Ltd. (JCI) Short Interest Update
Tyco International Ltd. (NYSE:JCI) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 6,244,034 shares, a drop of 44.1% from the September 15th total of 11,167,770 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 7,077,788 shares, the short-interest ratio is presently 0.9 days.
Several equities analysts have weighed in on the company. Atlantic Securities reissued an “overweight” rating on shares of Tyco International in a research note on Friday, September 9th. Wells Fargo & Co. reissued a “market perform” rating on shares of Tyco International in a research note on Wednesday, October 12th. Vetr raised Tyco International from a “buy” rating to a “strong-buy” rating and set a $51.67 target price on the stock in a research note on Monday, September 12th. Sanford C. Bernstein assumed coverage on Tyco International in a research note on Friday, September 16th. They issued an “outperform” rating and a $57.00 target price on the stock. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $52.00 target price (up previously from $51.00) on shares of Tyco International in a research note on Wednesday, September 7th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Tyco International currently has an average rating of “Buy” and an average price target of $49.91.
Tyco International (NYSE:JCI) opened at 43.74 on Tuesday. The stock’s 50 day moving average price is $45.68 and its 200 day moving average price is $45.64. Tyco International has a 52 week low of $31.73 and a 52 week high of $50.65. The company has a market capitalization of $27.89 billion, a P/E ratio of 43.44 and a beta of 1.19.
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Tyco International (NYSE:JCI) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $9.62 billion. Tyco International had a return on equity of 20.59% and a net margin of 5.45%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. Analysts anticipate that Tyco International will post $3.52 earnings per share for the current year.
In related news, VP R Bruce Mcdonald sold 98,166 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $44.95, for a total value of $4,412,561.70. Following the transaction, the vice president now owns 100,766 shares in the company, valued at $4,529,431.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Virginia Retirement System acquired a new position in shares of Tyco International during the first quarter worth about $409,000. AMF Pensionsforsakring AB purchased a new position in Tyco International during the first quarter worth $1,247,000. Canada Pension Plan Investment Board increased its position in Tyco International by 1,575.9% in the first quarter. Canada Pension Plan Investment Board now owns 78,900 shares of the company’s stock worth $3,075,000 after buying an additional 74,192 shares during the period. BB&T Securities LLC increased its position in Tyco International by 550.6% in the first quarter. BB&T Securities LLC now owns 104,810 shares of the company’s stock worth $4,084,000 after buying an additional 88,701 shares during the period. Finally, Pegasus Partners Ltd. increased its position in Tyco International by 22.5% in the first quarter. Pegasus Partners Ltd. now owns 8,210 shares of the company’s stock worth $320,000 after buying an additional 1,510 shares during the period. 63.02% of the stock is currently owned by institutional investors.
About Tyco International
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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