Oliver George, Chairman and CEO of Johnson Controls (NYSE:JCI) International plc (NYSE:JCI), recently executed a significant stock transaction. On December 10, George sold 124,497 ordinary shares at a weighted average price of $82.67, totaling approximately $10.3 million. This sale follows an option exercise for the same number of shares at $41.73 each, valued at about $5.2 million. The transaction comes as JCI, now valued at $54.7 billion, has delivered an impressive 51% return over the past year. According to InvestingPro, the company trades at a P/E ratio of 32.8, reflecting strong market confidence.
The transactions are part of George's ongoing management of his equity in the company. Following these moves, George's direct ownership stands at 1,267,715.59 shares, while indirectly holding 69,866 shares through the Oliver Family Trust (SLAT). InvestingPro analysis suggests the stock is currently overvalued, with 12 additional exclusive insights available to subscribers. Get access to the comprehensive Pro Research Report, part of InvestingPro's coverage of 1,400+ top US stocks, for detailed valuation analysis and expert insights.
In other recent news, Johnson Controls International has made significant strides in its financial operations. The company recently priced an additional $250 million in senior notes due 2032, supplementing the previously issued $400 million of 4.900% senior notes due the same year. Concurrently, Johnson Controls also priced its €500 million senior notes offering due in 2033. The proceeds from both offerings are expected to be utilized for general corporate purposes, including debt repayment and refinancing, potential acquisitions, and investments in subsidiaries.
In terms of performance, Johnson Controls reported a strong fourth quarter for fiscal 2024, with a 7% increase in orders and a 22% rise in adjusted earnings per share (EPS) to $1.28. The company anticipates continued growth in fiscal 2025, projecting an adjusted EPS of $3.40 to $3.50 and mid-single-digit organic sales growth.
Furthermore, Johnson Controls announced plans to sell its Residential & Light Commercial segment to Bosch (NS:BOSH) as part of a broader $400 million restructuring plan. The plan aims to achieve $500 million in annual cost savings and enhance the company's operating model and customer experience. These are the latest in a series of strategic moves by Johnson Controls, demonstrating its commitment to maintaining a robust balance sheet and investing in areas that reinforce its market position.
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