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Johnson Controls International PLC JCI

Morningstar Rating
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Stock XNYS Rating as of
$70.62 +1.60 (2.32%)
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As of Delayed Price Post-Trading: $70.93 +0.31
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Company Report

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Johnson Controls: Activist Investor Elliott Investment Management Becomes a Large Shareholder

Brian Bernard

According to a report from Bloomberg News, activist investor Elliott Investment Management has built an over $1 billion ownership stake in Johnson Controls. Based on Morningstar data, we estimate Elliott’s investment in Johnson Controls makes it a top 10 shareholder. Shares of the narrow-moat-rated manufacturer of heating, ventilation, air-conditioning, refrigeration, fire, and security products traded roughly 3% higher during intraday trading on May 20. We’re maintaining our $72 per share fair value estimate.

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Price vs Fair Value

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JCI is trading at a 583% premium.
Price
$69.02
Fair Value
$32.00
Uncertainty
Medium
1-Star Price
$83.50
5-Star Price
$62.30
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Johnson Controls should benefit from secular trends in global urbanization and increased demand for energy-efficient and smart building solutions.

Bears

Economic uncertainty could slow commercial construction and retrofit spending, negatively affecting HVAC, building automation, and fire and security product and installation sales. Buildings is traditionally a late-cycle business.

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News

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Trading Information

Previous Close Price
$69.02
Day Range
$70.26–72.99
52-Week Range
$47.90–72.99
Bid/Ask
$70.70 / $71.10
Market Cap
$47.57 Bil
Volume/Avg
13.2 Mil / 5.2 Mil

Key Statistics

Price/Earnings (Normalized)
20.06
Price/Sales
1.77
Dividend Yield (Trailing)
2.14%
Dividend Yield (Forward)
2.14%
Total Yield
3.53%

Company Profile

Johnson Controls manufactures, installs, and services HVAC systems, building management systems and controls, industrial refrigeration units, and fire and security solutions. Commercial HVAC accounts for over 45% of sales, fire and security represents roughly 40% of sales, and residential HVAC, industrial refrigeration, and other solutions account for the remaining 15% of revenue. In fiscal 2023, Johnson Controls generated nearly $27 billion in revenue.
Sector
Industrials
Industry
Building Products & Equipment
Stock Style Box
Mid Core
Total Number of Employees
102,000
Website
https://www.johnsoncontrols.com

Competitors

Valuation

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Metric
JCI
CARR
TT
Price/Earnings (Normalized)
 20.0623.0433.91
Price/Book Value
 2.975.0810.68
Price/Sales
 1.772.464.10
Price/Cash Flow
 16.2126.2928.18
Price/Earnings
JCI
CARR
TT

Financial Strength

Metric
JCI
CARR
TT
Quick Ratio
 0.630.550.62
Current Ratio
 0.971.361.13
Interest Coverage
 7.364.7612.55
Quick Ratio
JCI
CARR
TT

Profitability

Metric
JCI
CARR
TT
Return on Assets (Normalized)
 5.55%8.02%11.89%
Return on Equity (Normalized)
 14.71%27.54%34.17%
Return on Invested Capital (Normalized)
 9.63%12.64%21.14%
Return on Assets
JCI
CARR
TT
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