Johnson Controls Inc. (JCI) Sees Unusually-High Trading Volume
Johnson Controls Inc. (NYSE:JCI) saw strong trading volume on Monday . 32,732,699 shares changed hands during mid-day trading, an increase of 287% from the previous session’s volume of 8,460,247 shares.The stock last traded at $45.45 and had previously closed at $45.04.
A number of equities research analysts have recently commented on the company. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $52.00 price objective on shares of Johnson Controls in a research report on Tuesday, August 23rd. Zacks Investment Research downgraded Johnson Controls from a “buy” rating to a “hold” rating in a research report on Monday, August 8th. TheStreet raised Johnson Controls from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st. Robert W. Baird reissued a “buy” rating on shares of Johnson Controls in a research report on Tuesday, June 28th. Finally, Morgan Stanley reissued a “buy” rating on shares of Johnson Controls in a research report on Wednesday, June 15th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $48.59.
The firm has a market cap of $28.99 billion and a price-to-earnings ratio of 45.13. The company has a 50-day moving average of $44.88 and a 200-day moving average of $41.81.
Johnson Controls (NYSE:JCI) last released its earnings results on Thursday, July 21st. The company reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.04. The business earned $9.50 billion during the quarter, compared to analysts’ expectations of $9.62 billion. Johnson Controls’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. On average, equities analysts forecast that Johnson Controls Inc. will post $3.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Friday, August 5th were issued a $0.29 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.55%.
In other news, VP R Bruce Mcdonald sold 98,166 shares of the stock in a transaction on 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 completion of the sale, the vice president now owns 100,766 shares in the company, valued at $4,529,431.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
A hedge fund recently raised its stake in Johnson Controls stock. Schwab Charles Investment Management Inc. raised its position in shares of Johnson Controls Inc. (NYSE:JCI) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,813,201 shares of the company’s stock after buying an additional 58,056 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.28% of Johnson Controls worth $71,604,000 at the end of the most recent reporting period.
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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