Shares of Johnson Controls Inc. ( JCI - Analyst Report ) hit 52-week high of $34.52 on Mar 13. The new high possible stemmed from rising automobile demand across the world and improving building markets in Asia. Their previous 52-week high was $34.45.

Johnson Controls is a diversified industrial company that caters to automotive, building and power solutions market at the same time. It has a market cap of $23.6 billion.

The Zacks Rank #3 (Hold) company posted a 16.1% fall in earnings to 52 cents per share in the first quarter of fiscal 2013 ended Dec 31, 2012 from 62 cents in the same quarter of prior fiscal year as global demand for its products has weakened. However, profits surpassed the Zacks Consensus Estimate by a penny. Net income declined 16.5% to $354.0 million from $424.0 million in the first quarter of fiscal 2012.

Revenues in the quarter were flat at $10.4 billion, but exceeded the Zacks Consensus Estimate of $10.2 billion. Revenues remain unchanged as the benefit from strong business backlog was offset by weak demand across the globe, especially in Europe.

Johnson Controls reiterated its guidance to generate lower earnings in the first half of fiscal 2013 compared with the year ago period due to weak end markets and adverse effects of foreign currency.

For the second quarter of fiscal 2013, the company expects earnings per share between 40 cents and 42 cents taking the automotive production environment in Europe, short-term delays in flexing labor in the region and a high level of launch activity into account.

Few stocks that are performing well in the industry where Johnson Controls operates include Gentherm Incorporated ( THRM - Snapshot Report ) , STRATTEC Security Corporation ( STRT - Snapshot Report ) , and Magna International ( MGA - Analyst Report ) . Both Gentherm and STRATTEC carry a Zacks Rank #1 (Strong Buy) while Magna retains a Zacks Rank #2 (Buy).