Johnson Controls (NYSE:JCI) International plc (NYSE:JCI) Executive Vice President and Chief Financial Officer Marc Vandiepenbeeck has sold a portion of his company shares, according to a recent filing. The transaction, which took place on April 3, involved the sale of 186 ordinary shares at a price of $65.50 each, amounting to a total value of $12,183.
This sale was conducted under a prearranged trading plan, known as a Rule 10b5-1 plan, which Vandiepenbeeck had adopted on August 8, 2023. Such plans allow company insiders to establish predetermined trading arrangements for selling stocks at a specified time, providing a defense against potential claims of insider trading.
Following the transaction, Vandiepenbeeck continues to hold 44,501 ordinary shares of Johnson Controls. The company, with its headquarters in Cork, Ireland, specializes in air conditioning and heating equipment, as well as commercial and industrial refrigeration equipment.
Investors often monitor insider transactions as they can provide insights into an executive's confidence in the company's prospects. However, sales under Rule 10b5-1 plans are typically planned well in advance and may not necessarily reflect the insider's current view of the company.
The sale was executed as part of Vandiepenbeeck's role as an officer of the company, and the filing was signed on his behalf by attorney-in-fact Leanne Michels. Johnson Controls has not made any additional comments regarding the transaction.
InvestingPro Insights
As Johnson Controls International plc (NYSE:JCI) sees its Executive Vice President and CFO Marc Vandiepenbeeck reduce his stake, investors might seek other data points to assess the company's current valuation and future prospects. According to real-time data from InvestingPro, Johnson Controls is trading at a P/E ratio of 21.22, with an adjusted P/E ratio for the last twelve months as of Q1 2024 standing at 16.64.
InvestingPro Tips highlight that Johnson Controls has been a consistent performer, having raised its dividend for 3 consecutive years and maintained dividend payments for 54 consecutive years, signifying a strong commitment to shareholder returns. The company is also noted to be a prominent player in the Building Products industry and operates with a moderate level of debt, which could be reassuring for investors looking for stability in their investments.
Moreover, the company's stock has experienced a strong return over the last three months, with a total price return of 17.55%, and analysts predict the company will be profitable this year, as it has been over the last twelve months. With a dividend yield of 2.26% as of the last dividend ex-date on March 22, 2024, Johnson Controls may appeal to income-focused investors.
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