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3. Johnson Controls International plc (NYSE:JCI)

Number of Hedge Fund Holders: 33

Johnson Controls International plc (NYSE:JCI) is an Irish multinational, multi-industry company that produces fire and HVAC equipment for buildings. In 2021, the company introduced the Lithium-Ion Risk Prevention Solution for the Protection of Energy Storage Systems.

For the second quarter of 2022, Johnson Controls International plc (NYSE:JCI) reported an EPS of $0.63, compared to the estimates of $0.60 and generated a revenue of $6.1 billion, missing the consensus by $150 million. 

As of August 29, Johnson Controls International plc (NYSE:JCI) has a dividend yield of 2.56% with an annualized dividend of $1.40. The latest quarterly dividend of $0.35 was paid out on July 15 to the shareholders of record on June 21.

Here is what Aristotle Capital Management had to say about Johnson Controls International plc (NYSE:JCI) in its Q1 2022 investor letter:

“As investors since the fourth quarter of 2017, we have enjoyed a front-row view of the large transformation that has taken place at Johnson Controls. Once a multi-industrial corporation, the company successfully turned itself into a pure-play buildings solutions and technology provider. Catalysts we previously identified for Johnson Controls included synergies following its merger with Tyco International, which provides fire safety and building security products, as well as benefits from its separation of non-building-focused businesses, such as automotive seating and batteries. With all catalysts in sight now nearing completion, and Johnson Controls now a better business for it – with higher recurring revenues and lower capital intensity – we decided to exit our investment to help fund the purchases of Xcel Energy and Atmos Energy.”