Johnson Controls International PLC (NYSE:JCI) announced a quarterly dividend on Wednesday, June 12th, RTT News reports. Shareholders of record on Monday, June 24th will be paid a dividend of 0.26 per share on Friday, July 12th. This represents a $1.04 dividend on an annualized basis and a yield of 2.61%.
Johnson Controls International has a payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Johnson Controls International to earn $2.57 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 40.5%.
NYSE JCI traded up $1.02 on Wednesday, reaching $39.89. The company had a trading volume of 208,659 shares, compared to its average volume of 6,082,404. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 0.95. The company has a market cap of $35.23 billion, a P/E ratio of 14.08, a P/E/G ratio of 2.10 and a beta of 0.93. Johnson Controls International has a 12 month low of $28.30 and a 12 month high of $40.33.
Johnson Controls International (NYSE:JCI) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.79 billion. Johnson Controls International had a net margin of 8.52% and a return on equity of 9.85%. Johnson Controls International’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. As a group, analysts forecast that Johnson Controls International will post 1.93 EPS for the current fiscal year.
Johnson Controls International announced that its Board of Directors has initiated a share repurchase plan on Thursday, March 7th that authorizes the company to repurchase $8.50 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 26% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of research firms have recently weighed in on JCI. Zacks Investment Research upgraded shares of Johnson Controls International from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Monday, May 20th. Barclays began coverage on shares of Johnson Controls International in a report on Wednesday. They issued an “equal weight” rating and a $39.00 target price on the stock. TheStreet upgraded shares of Johnson Controls International from a “c+” rating to a “b-” rating in a report on Thursday, May 9th. Citigroup began coverage on shares of Johnson Controls International in a report on Wednesday, June 5th. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Credit Suisse Group began coverage on shares of Johnson Controls International in a report on Monday, May 13th. They issued a “neutral” rating and a $42.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Johnson Controls International presently has an average rating of “Hold” and a consensus target price of $39.64.
In related news, insider Rodney M. Rushing sold 29,728 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $39.03, for a total transaction of $1,160,283.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Oliver sold 11,481 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $38.90, for a total transaction of $446,610.90. Following the transaction, the chief executive officer now owns 870,354 shares in the company, valued at $33,856,770.60. The disclosure for this sale can be found here. Insiders have sold a total of 186,865 shares of company stock worth $7,308,261 over the last quarter. 0.50% of the stock is currently owned by insiders.
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About Johnson Controls International
Johnson Controls International plc operates as a diversified technology and multi industrial company worldwide. The company operates through Building Technologies & Solutions and Power Solutions segments. The company designs, sells, installs, and services heating, ventilating, and air conditioning systems, controls systems, integrated electronic security systems, 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, to non-residential building and industrial applications.
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