ST - Activist Investor Elliott Acquires Major Stake In Johnson Controls: Report | Benzinga
Elliott Investment Management, an activist investor, has reportedly amassed a significant stake in Johnson Controls International Plc (NYSE:JCI), valued at over $1 billion, making it one of the company’s top ten investors.
The development comes as Johnson Controls’ performance has been trailing behind its industry peers.
In the past year, Johnson Controls’ shares have climbed over 9%, giving it a market valuation of approximately $46.5 billion, while competitors such as Carrier Global Corp. (NYSE:CARR) and Lennox International Inc. (NYSE:LII) saw their stocks increase by over 50%, and 70% respectively.
Johnson Controls is a major player in the HVAC control market, which has grown due to the need for cooling data ...