Tyco International Ltd. (JCI) Downgraded by Zacks Investment Research
According to Zacks, “Johnson Controls’ merger with Tyco has created a leading global multi-industrial company named Johnson Controls International plc. The combined company is expected to generate revenues of $30 billion annually. Johnson Controls expects market expansion, acquisitions and strategic contracts to improve its performance and boost earnings. However, currency headwinds and stiff competition are some concerns. Johnson Controls’ earnings estimates have inched down lately, albeit still significantly higher than 30 days ago. The company has a mostly positive record of earnings surprises in recent quarters.”
Several other brokerages also recently commented on JCI. Morgan Stanley set a $55.00 price target on shares of Tyco International and gave the company a buy rating in a report on Tuesday, September 6th. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $52.00 price objective (up from $51.00) on shares of Tyco International in a research report on Wednesday, September 7th. Atlantic Securities reissued an overweight rating on shares of Tyco International in a research report on Friday, September 9th. TheStreet cut shares of Tyco International from a buy rating to a hold rating in a research report on Tuesday, September 6th. Finally, Macquarie raised shares of Tyco International from a neutral rating to an outperform rating and boosted their price objective for the company from $43.00 to $55.00 in a research report on Thursday, September 8th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Tyco International currently has a consensus rating of Buy and an average price target of $50.69.
Shares of Tyco International (NYSE:JCI) opened at 44.96 on Tuesday. The company’s 50 day moving average is $47.51 and its 200 day moving average is $44.95. The company has a market cap of $28.67 billion, a P/E ratio of 44.65 and a beta of 1.11. Tyco International has a 12 month low of $31.73 and a 12 month high of $50.65.
Tyco International (NYSE:JCI) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.07 EPS for the quarter, beating the consensus estimate 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 net margin of 5.45% and a return on equity of 20.59%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.91 EPS. On average, equities research analysts predict that Tyco International will post $2.09 EPS for the current fiscal year.
In other Tyco International news, VP R Bruce Mcdonald sold 98,166 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $44.95, for a total transaction of $4,412,561.70. Following the transaction, the vice president now owns 100,766 shares in the company, valued at approximately $4,529,431.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Tyco International by 2.4% in the second quarter. Vanguard Group Inc. now owns 39,562,653 shares of the company’s stock worth $1,751,042,000 after buying an additional 910,041 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Tyco International by 2.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 39,308,460 shares of the company’s stock worth $1,739,792,000 after buying an additional 946,124 shares during the last quarter. State Street Corp raised its position in shares of Tyco International by 0.7% in the first quarter. State Street Corp now owns 26,431,033 shares of the company’s stock worth $1,030,019,000 after buying an additional 191,922 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Tyco International by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 16,658,567 shares of the company’s stock worth $737,308,000 after buying an additional 111,563 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Tyco International by 7.6% in the second quarter. Capital World Investors now owns 14,636,753 shares of the company’s stock worth $647,823,000 after buying an additional 1,028,675 shares during the last quarter. Institutional investors and hedge funds own 93.95% of the company’s stock.
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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