Goldman Sachs Positive on Johnson Controls International (JCI) Following Fiscal Q4 Results

JCI -1.18%

Johnson Controls International plc (NYSE:JCI) is one of the best industrial stocks to buy. On November 7, Goldman Sachs maintained a Buy rating on JCI following its fiscal Q4 earnings topping estimates, as per the Fly’s report. The firm lifted the price target on the stock from $124 to $142. Analyst Joe Ritchie conveyed to investors that segment EBITDA came in 3% higher than market consensus, due to better-than-anticipated growth in all locations. Goldman added that the company’s guidance looks attainable given the momentum in the Applied HVAC space.

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On November 5, Johnson Controls reported its fiscal Q4 results. The GAAP EPS came in at $0.42, with Q4 sales growing 3% to $6.4 billion, with JCI reporting robust double-digit growth in Systems and high single-digit growth in Service segments. During the quarter, the company shelled out $243 million in dividends and bought back an aggregate of $5 billion in ordinary stock under an accelerated share repurchase initiative.

Johnson Controls International plc (NYSE:JCI) designs, distributes, installs, and maintains HVAC systems, building controls, fire and security systems, and refrigeration units. Its services also include inspections, routine maintenance, repairs, and energy-efficient and smart building solutions.

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