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In a recent transaction at Johnson Controls International plc (NYSE:JCI), a $66 billion building products company with strong financial health according to InvestingPro, Nathan D. Manning, Vice President and President of Americas, sold 1,422 ordinary shares. The shares were sold at an average price of $100.90 each, amounting to a total value of $143,479. The transaction occurred as the stock trades near its 52-week high of $102.36, having delivered a remarkable 42% return over the past year. Following this transaction, Manning holds 143,282.46 shares directly. This sale was conducted under a Rule 10b5-1 trading plan, which was adopted on September 12, 2024. InvestingPro analysis indicates the stock is currently showing overbought signals, with 12 additional key insights available to subscribers.
In other recent news, Johnson Controls International reported second-quarter earnings that exceeded expectations, with adjusted earnings per share of $0.82, surpassing the anticipated $0.79. Revenue for the quarter rose by 1% year-over-year to $5.68 billion, beating the consensus estimate of $5.64 billion. The company also raised its full-year earnings outlook to approximately $3.60 per share, above the Wall Street consensus of $3.56. In a strategic move, Johnson Controls has realigned its organizational structure from four to three segments, aiming to simplify operations and accelerate growth. Deutsche Bank (ETR:DBKGn) upgraded the company’s stock rating from Hold to Buy, raising the price target to $112, reflecting optimism about operational improvements under new CEO Joakim Weidemanis. Oppenheimer also raised its price target for Johnson Controls to $96, maintaining an Outperform rating, following the company’s successful second fiscal quarter. The firm highlighted the company’s enhanced free cash flow conversion guidance and potential for operational efficiency improvements. These developments suggest a positive trajectory for Johnson Controls under its new leadership.
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