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This Auto Parts Stock is Driving Higher

Positive news vaulted Johnson Controls from a consolidation with a series of strong volume days


Johnson Controls (NYSE: JCI) — This company supplies building controls and energy management systems, automotive seating, and batteries.

Global vehicle sales projections indicate a 3.4% rise in overall revenues in fiscal year (FY) 2013, ending in September, and adjusted earnings are expected to increase from $2.59 in FY 2012 to $2.67 in FY 2013. The stock has a dividend yield of 2.3%.

JCI was up recently on reports that it is exploring the sale of its automotive electronics unit. The story that broke last week vaulted the stock from a consolidation with a series of strong volume days. The trading target for JCI is $38-$40.

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