MILWAUKEE—John Donofrio, Executive Vice President and General Counsel of Johnson Controls International plc (NYSE:JCI), recently sold a portion of his holdings in the company. According to a recent SEC filing, Donofrio sold 69,746 shares of Johnson Controls on February 6, 2025, with prices ranging from $87.00 to $87.53 per share. The total value of these transactions amounted to approximately $6.08 million. The sale comes as JCI trades near its 52-week high of $88.90, with the stock showing remarkable strength, having gained over 65% in the past year.
Additionally, the filing reveals that Donofrio acquired 49,928 ordinary shares through the exercise of employee stock options at a price of $33.39 per share. This transaction had a total value of approximately $1.67 million. Following these transactions, Donofrio holds 28,542.871 shares directly in the $57.93 billion market cap company. According to InvestingPro analysis, the stock is currently showing overbought signals.
These transactions are part of routine financial management by company executives, and investors often scrutinize such moves for potential insights into the executive's outlook on the company's future performance. For deeper analysis of insider transactions and 14 additional exclusive insights, check out the comprehensive Johnson Controls research report on InvestingPro.
In other recent news, Johnson Controls has seen significant changes in its leadership. The company named Joakim Weidemanis as the new CEO, taking over from George R. Oliver. Weidemanis, credited with substantial revenue growth at Danaher Corporation (NYSE:DHR), is expected to steer Johnson Controls into its next growth phase. Additionally, the company announced executive team reshuffles, including Julie Brandt's appointment as Vice President and President of Global Field Operations, and Nathan Manning taking over as Vice President and President of Building Solutions North America.
Meanwhile, Johnson Controls' board member Simone Menne decided not to seek re-election and is set to retire after the annual general meeting. The company clarified that Menne's departure was a personal decision and not due to any disagreements with the company's operations, policies, or practices.
On the financial front, Melius analysts downgraded Johnson Controls stock from Buy to Hold, adjusting the price target to $95. The decision was influenced by concerns over the future price-to-earnings ratios investors might assign to the company's earnings, despite no worries about Johnson Controls' earnings results for 2025 or 2026. The firm also expressed apprehensions about the sustainability of the current capital expenditure trend, particularly in the context of artificial intelligence investments. These are the latest developments in the company's journey.
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