NEW YORK (TheStreet) -- Shares of Johnson Controls(JCI) - Get Report are climbing 3.17% to $45.72 on heavy trading volume in midday trading Thursday after the company reported earnings that topped analysts' expectations for the fiscal third quarter.

Before today's market open, the Milwaukee-based company posted adjusted earnings of $1.07 per share, above analysts' projections of $1.03 per share. Revenue came in at $9.52 billion, below Wall Street's estimates of $9.62 billion.

Additionally, the company moved up the data to complete its $14 billion merger with Tyco Int'l (TYC) to September 2 from September 30.

For 2016, Johnson Controls now forecasts earnings per share between $3.95 and $3.98 compared to its prior view of $3.85 to $4. Analysts are looking for earnings of $3.91 per share.

In the fourth quarter, the company sees earnings per share in the range of $1.17 and $1.20. Analysts are modeling earnings of $1.20 per share.

Johnson Controls agreed to combine with Tyco in January.

About 6.3 million of Johnson Controls' shares were traded so far today vs. its average volume of 4.74 million shares per day.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C+ on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and good cash flow from operations.

But the team also finds weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: JCI

Image placeholder title