Johnson Controls (NYSE:JCI) International plc (NYSE:JCI), a prominent player in the Building Products industry with a market capitalization of $53.3 billion, recently reported that Marc Vandiepenbeeck, the company’s Executive Vice President and Chief Financial Officer, sold 186 ordinary shares on December 20. The company’s stock has shown remarkable strength, delivering a 42% return year-to-date. The shares were sold at a price of $78.60 each, amounting to a total transaction value of $14,619. According to InvestingPro analysis, the stock appears to be trading near its Fair Value. This transaction was conducted under a Rule 10b5-1 trading plan that Vandiepenbeeck adopted on August 8, 2023. Following this sale, Vandiepenbeeck holds 91,371.53 shares directly in the company, which has maintained dividend payments for 54 consecutive years. For deeper insights into JCI’s valuation and 7 additional ProTips, check out the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Johnson Controls International, a leader in the production of air conditioning and heating equipment, has seen significant financial developments. The company reported a robust fourth-quarter performance for fiscal 2024, with a 7% increase in orders and a 22% rise in adjusted earnings per share to $1.28. For fiscal 2025, Johnson Controls projects an adjusted EPS of $3.40 to $3.50 and mid-single-digit organic sales growth.
Simultaneously, the company has announced the pricing of an additional $250 million in senior notes due 2032, adding to the previously issued $400 million of the same. The proceeds are intended for general corporate purposes, including debt refinancing and potential acquisitions. In a similar financial maneuver, Johnson Controls also priced a €500 million senior notes offering due in 2033. BofA Securities and US Bancorp (NYSE:USB) have been appointed to manage these offerings.
Furthermore, Johnson Controls announced plans to sell its Residential & Light Commercial segment to Bosch (NS:BOSH) as part of a $400 million restructuring plan. This move aims to achieve $500 million in annual cost savings. In a separate development, board member Simone Menne has decided to retire and will not seek re-election, effective following the company’s annual general meeting in 2025. The company clarified that Menne’s decision to retire was a personal one and not due to any disagreements with the company’s operations, policies, or practices.
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