|Bid||33.00 x 900|
|Ask||33.44 x 4000|
|Day's Range||32.85 - 33.13|
|52 Week Range||30.60 - 41.53|
|Beta (3Y Monthly)||1.19|
|PE Ratio (TTM)||14.27|
|Earnings Date||Jan 29, 2019 - Feb 4, 2019|
|Forward Dividend & Yield||1.04 (3.03%)|
|1y Target Est||37.82|
Oppenheimer analyst Noah Kaye believes there's upside and growth potential for a streamlined Johnson Controls focused on its Building Technologies & Solutions division.
Johnson Controls (JCI) signs agreement to sell the power solutions business to Brookfield Business Partners. The expected closing date of the transaction is Jun 30, 2019.
In an interview Tuesday afternoon, Johnson Controls chairman and CEO George Oliver said he expects Power Solutions to remain based in the current facility in Glendale both before and after the $13.2 billion sale closes.
Johnson Controls International PLC is selling its automotive-battery business to a group led by Brookfield Business Partners LP for $13.2 billion in cash, the company said Tuesday. Johnson Controls said it would reap proceeds of $11.4 billion after tax and transaction-related expenses. Brookfield, which is joining with Canadian pension fund Caisse de dépôt et placement du Québec, has been in talks with Johnson Controls for weeks, grinding through the details of the deal.
Chief Executive Officer George Oliver is betting on continued growth of “smart buildings” as companies seek to boost efficiency of working spaces with new technology. With the sale of the power unit to Brookfield Asset Management Inc., Johnson Controls becomes a “pure-play” provider of fire, security, climate control, and building-management systems. The new structure will enable Johnson Controls to lower capital spending and boost profit margins, Oliver said in a conference call with analysts Tuesday.
Johnson Controls employs 2,600 people in the Milwaukee area, including 500 Power Solutions employees at the Glendale headquarters. Power Solutions is expected to remain based in Glendale following Tuesday's sale news, according to a company spokesman.
Johnson Controls announced it will sell Power Solutions, its automotive battery business based in Glendale, to Canadian firm Brookfield Business Partners LP and its institutional partners for $13.2 billion.
Shares of Johnson Controls were up 3.5 percent at $35.40 before the bell. The deal will allow Johnson Controls to focus on its building technologies and solutions business, which makes heating, ventilation and air conditioning systems, as well as building access control and fire detection systems. Reuters had reported, late last month, that Brookfield and Johnson Controls were close to finalizing terms for the sale of the unit, whose batteries are used in about a third of cars globally.
Shares of Johnson Controls were up 3.5 percent at $35.40 before the bell. The deal will allow Johnson Controls to focus on its building technologies and solutions business, which makes heating, ventilation and air conditioning systems, as well as building access control and fire detection systems. Reuters had reported, late last month, that Brookfield and Johnson Controls were close to finalising terms for the sale of the unit, whose batteries are used in about a third of cars globally.
Johnson Controls International PLC is selling its power solutions division to Brookfield Business Partners LP for $13.2 billion.
Johnson Controls International plc will sell its Power Solutions business to Brookfield Business Partners L.P. in a cash transaction worth $13.2 billion, the company announced Tuesday. Power Solutions, which manufactures and distributes battery technology for vehicles, generated $8 billion in revenue in fiscal 2018. The sale will streamline the Johnson Controls portfolio, give the company financial flexibility, and allow it to return money to shareholders, George Oliver, Johnson Control's chief executive officer, said in a statement. The company will use $3.0 billion to $3.5 billion to pay down debt. The transaction is expected to close on June 30, 2019. Johnson Controls shares are up 3.4% in Tuesday premarket trading, but down 10.3% for 2018 to date. The S&P 500 index is up 2% for the year so far.
-- Attractive valuation yields net proceeds of $11.4 billion and provides financial flexibility for shareholder-centric capital allocation -- Transaction creates a pure-play building technologies and solutions ...
for $13.2bn, an all-cash deal that ranks among the largest leveraged buyouts since the financial crisis a decade ago. The deal is the latest in a string of leveraged buyouts that has captured Wall Street’s attention, as both deal sizes and the debt used to finance the transactions climbs.
Women made history in this year’s midterm elections, dramatically increasing their presence in Congress with a record number of women slated to serve in the House of Representatives. Although women remain underrepresented among private equity’s senior professionals, more of them are advancing into the partner ranks or even striking out to become founders and co-founders of their own firms. Women to Watch: The third edition of our Women to Watch series focuses primarily on deal makers at private-equity firms, but they aren’t the only ones who have made tremendous inroads in the industry in the past decade.
Johnson Controls International PLC has hit a last-minute snag in its quest to sell its automotive-battery business, according to people familiar with the matter. The company was nearing a deal to sell the unit to Brookfield Asset Management Inc. for close to $14 billion, the people said. Some analysts expected a deal with the private-equity firm to be announced ahead of Johnson Controls’ fiscal fourth-quarter earnings report Thursday morning.
Moody's Investors Service ("Moody's") downgraded the long-term ratings of Johnson Controls International plc ("JCI plc") and Tyco International Holding S.a.r.l ("TSARL"), with the senior unsecured to Baa2 from Baa1. The short-term rating of P-2 has been affirmed.
While multiple reports have emerged about the progress of the review, including one which indicated the company was nearing a sale of the business, Johnson Controls didn't have any specific updates on the process Thursday.
We still have a ways to go before we reach late-January highs for most stocks on the S&P 500, but if the relief rally successfully morphs into a holiday season buying spree for the markets, we may see a late-year surge now that the midterm elections are behind us.
Investing.com - Johnson Controls (NYSE:JCI) reported fourth quarter earnings that matched analyst's expectations on Thursday and revenue that topped forecasts.
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