NEW YORK (TheStreet) -- Johnson Controls (JCI) shares are flat in trading at $50.23 today after the automatic temperature regulation systems installer raised its quarterly dividend to 26 cents per share of common stock from 22 cents per share, an 18% increase.
The dividend will be payable January 5 to shareholders of record on December 12. The company has increased its dividend in 34 of the last 36 years.
The company last released its quarterly results on October 30, reporting earnings of $1.04 cents on revenue of $10.98 billion. Analysts were expecting earnings of $1.01 per share on revenue of $11.21 billion.
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TheStreet Ratings team rates JOHNSON CONTROLS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate JOHNSON CONTROLS INC (JCI) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, increase in net income, reasonable valuation levels, good cash flow from operations and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins."