Oliver George, Chairman and CEO of Johnson Controls International plc (NYSE:JCI), executed significant stock transactions earlier this week, according to a recent SEC filing. On February 13 and 14, George sold a total of 325,788 shares of the company, generating approximately $28.95 million. The sale prices ranged from $88.35 to $89.55 per share, with the stock currently trading near its 52-week high of $89.95. According to InvestingPro analysis, JCI's shares have delivered an impressive 60.58% return over the past year.
These transactions followed the exercise of stock options, which George acquired at $41.75 per share. The option exercises on February 13 and 14 totaled 325,788 shares, valued at approximately $13.6 million. With a current market capitalization of $59.25 billion and trading at a P/E ratio of 34.2, InvestingPro data suggests the stock is currently in overbought territory.
After these transactions, George retains ownership of 1,203,892.93 shares directly. Additional shares are held indirectly through a family trust and a GRAT, totaling 178,349 shares. For deeper insights into JCI's valuation and 13 additional exclusive ProTips, visit InvestingPro, where you'll find comprehensive analysis and the detailed Pro Research Report.
In other recent news, Johnson Controls International plc has seen significant developments. UBS analyst Amit Mehrotra upgraded the company's stock rating from Neutral to Buy, setting a new price target of $103, indicating a potential 20% increase. This upgrade was influenced by confidence in the firm's new CEO, Joakim Weidemanis, and the company's potential for profit improvement under his leadership.
However, Melius analysts downgraded Johnson Controls stock from Buy to Hold, adjusting the price target to $95, due to concerns over future price-to-earnings ratios and the sustainability of the current artificial intelligence (AI) investment trend.
Johnson Controls also announced the appointment of Weidemanis as the new CEO. His past experience at Danaher (NYSE:DHR)'s Diagnostics business is expected to contribute to Johnson Controls' growth phase and financial improvements.
Additionally, the company announced significant changes to its executive team, with Julie Brandt appointed as Vice President and President of Global Field Operations, and Nathan Manning taking over as Vice President and President of Building Solutions North America. These changes aim to streamline operations and promote growth.
These recent developments reflect a period of strategic adjustments and leadership changes at Johnson Controls.
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