Johnson Controls (NYSE:JCI) International plc (NYSE:JCI), a $55.5 billion building products company, recently disclosed a stock transaction involving its Executive Vice President and Chief Financial Officer, Marc Vandiepenbeeck. According to the filing, Vandiepenbeeck sold 186 ordinary shares on December 3, 2024, at a price of $83.64 per share, amounting to a total of $15,557. This sale was conducted under a pre-established Rule 10b5-1 trading plan. The transaction comes as the stock trades near its 52-week high of $87.16, having delivered an impressive 55.5% return over the past year. According to InvestingPro analysis, the stock appears to be fairly valued at current levels.
In addition to the sale, Vandiepenbeeck acquired 9,860 ordinary shares through a grant of restricted share units on December 2, 2024. These units will vest in three equal installments over the next three years, subject to certain conditions.
Furthermore, Vandiepenbeeck was granted employee stock options for 33,482 shares, which will become exercisable in two phases over the next three years.
In other recent news, Johnson Controls International plc announced the pricing of its €500 million senior notes due in 2033, a move part of a broader strategy to maintain a robust balance sheet. The company also reported strong fourth-quarter performance for fiscal 2024, indicating a 7% increase in orders and a significant 22% year-over-year rise in adjusted earnings per share (EPS) to $1.28. Johnson Controls anticipates continued growth in fiscal 2025, projecting an adjusted EPS of $3.40 to $3.50 and mid-single-digit organic sales growth.
The company also announced plans to sell its Residential & Light Commercial segment to Bosch (NS:BOSH), part of a broader $400 million restructuring plan aimed at achieving $500 million in annual cost savings. Furthermore, Johnson Controls reported a record backlog of $13.1 billion, indicating strong future potential. These are the latest in a series of strategic moves by Johnson Controls to enhance its operating model and customer experience through restructuring and efficient resource allocation.
Recent developments also include the company's expectations for free cash flow conversion to be 85% or higher, with a commitment to return 100% of free cash flow to shareholders. These developments reflect Johnson Controls' ongoing efforts to strengthen its financial position and invest in areas that enhance the company's market position in the smart building industry.
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