Fintel reports that on August 3, 2023, Morgan Stanley maintained coverage of Johnson Controls International plc - Registered Shares (NYSE:JCI) with a Overweight recommendation.
Analyst Price Forecast Suggests 21.04% Upside
As of August 2, 2023, the average one-year price target for Johnson Controls International plc - Registered Shares is 75.08. The forecasts range from a low of 58.58 to a high of $85.05. The average price target represents an increase of 21.04% from its latest reported closing price of 62.03.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Johnson Controls International plc - Registered Shares is 27,235MM, an increase of 2.34%. The projected annual non-GAAP EPS is 3.56.
Johnson Controls International plc - Registered Shares Declares $0.37 Dividend
On June 7, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of June 20, 2023 received the payment on July 14, 2023. Previously, the company paid $0.36 per share.
At the current share price of $62.03 / share, the stock's dividend yield is 2.39%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.42%, the lowest has been 1.36%, and the highest has been 4.43%. The standard deviation of yields is 0.56 (n=235).
The current dividend yield is 0.06 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.48. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.38%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1869 funds or institutions reporting positions in Johnson Controls International plc - Registered Shares. This is an increase of 20 owner(s) or 1.08% in the last quarter. Average portfolio weight of all funds dedicated to JCI is 0.36%, a decrease of 13.56%. Total shares owned by institutions decreased in the last three months by 2.36% to 770,249K shares. 
The put/call ratio of JCI is 0.55, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 62,221K shares representing 9.07% ownership of the company. In it's prior filing, the firm reported owning 62,614K shares, representing a decrease of 0.63%. The firm decreased its portfolio allocation in JCI by 7.09% over the last quarter.
Wellington Management Group Llp holds 48,825K shares representing 7.12% ownership of the company. In it's prior filing, the firm reported owning 55,029K shares, representing a decrease of 12.71%. The firm decreased its portfolio allocation in JCI by 17.49% over the last quarter.
Massachusetts Financial Services holds 38,507K shares representing 5.61% ownership of the company. In it's prior filing, the firm reported owning 41,410K shares, representing a decrease of 7.54%. The firm decreased its portfolio allocation in JCI by 14.22% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 31,789K shares representing 4.63% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 21,284K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 20,875K shares, representing an increase of 1.92%. The firm decreased its portfolio allocation in JCI by 11.42% over the last quarter.
Johnson Controls International Background Information
(This description is provided by the company.)
Johnson Controls transforms the environments where people live, work, learn and play. From optimizing building performance to improving safety and enhancing comfort, the company drives the outcomes that matter most. Johnson Controls delivers its promise in industries such as healthcare, education, data centers and manufacturing. With a global team of 100,000 experts in more than 150 countries and over 130 years of innovation, the company is the power behind its customers' mission. Its leading portfolio of building technology and solutions includes some of the most trusted names in the industry, such as Tyco®, YORK®, Metasys®, Ruskin®, Titus®, Frick®, Penn®, Sabroe®, Simplex®, Ansul® and Grinnell®.
Additional reading:
- Press release issued by Johnson Controls International plc, dated August 2, 2023, relating to the Company’s results of operations.
- Tenth Supplemental Indenture, dated as of May 23, 2023, among Johnson Controls International plc, Tyco Fire & Security Finance S.C.A., U.S. Bank Trust Company, National Association, as trustee and Elavon Financial Services DAC, as paying agent (attaching form of the 4.250% Senior Notes due 2035).(incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed on May 23, 2023)
- Johnson Controls Reports Strong Revenue and EPS Growth in Q2 and Updates FY23 Guidance
- Co-Issuer of Debt Securities.
- T-1 Statement of Eligibility under the Trust Indenture Act of 1939 in respect of the Debt Securities Indenture.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
