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In recent transactions involving Johnson Controls International plc (NYSE:JCI), Chairman and CEO Oliver George sold a significant portion of his shares in the company. According to a recent SEC filing, George sold a total of 410,336 shares over two days, amounting to approximately $35.7 million. The shares were sold at prices ranging from $85.99 to $88.57 per share, near the stock’s 52-week high of $88.90. InvestingPro data shows the stock has gained an impressive 12.82% in the past week, with technical indicators suggesting overbought conditions.
In addition to the sales, George acquired shares through multiple transactions, resulting in a total acquisition valued at around $15.0 million. The shares were acquired at prices between $33.39 and $37.36 per share.
Following these transactions, George’s direct ownership in Johnson Controls now stands at 1,260,526.93 shares.
In other recent news, Johnson Controls has seen significant changes in its leadership. The company has appointed Joakim Weidemanis as the new CEO, effective March 12, 2025, succeeding George R. Oliver. Weidemanis brings extensive experience from his tenure at Danaher Corporation (NYSE:DHR), where he managed a $15 billion group. Concurrently, Johnson Controls has reshuffled its top management roles, with Julie Brandt and Nathan Manning taking on new responsibilities.
On the financial front, Johnson Controls has reported its fiscal first quarter 2025 earnings. However, Melius analysts have downgraded Johnson Controls stock from Buy to Hold, citing concerns over future price-to-earnings ratios and the sustainability of the current capital expenditure trend, particularly in the context of artificial intelligence investments.
In other company developments, board member Simone Menne will retire after the annual general meeting on March 12, 2025, as disclosed in a recent SEC filing. These are among the recent developments at Johnson Controls as the company continues to navigate its growth phase.
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