JCI - Time to Buy This Dividend Stock on a Dip?
2023-12-18 07:54:00 ET
Johnson Controls (NYSE: JCI) is an investing conundrum. It's not a company with a management team holding an excellent track record of meeting guidance. However, it is a good value stock in a highly attractive industry, and its 2.8% dividend yield makes it worth picking up on a dip for patient investors. Here's the how and why.
The company operates in four segments. The first is global products, which designs, manufactures, and sells heating, ventilation, air conditioning, and refrigeration (HVACR) products and software to the commercial and residential markets. It also sells controls and fire and security equipment. Global products sales tend to be made through dealers. Its crucial end markets are commercial HVAC (46% of 2023 segment sales) and fire and security products (37%).
The other three segments are building solutions in North America, building solutions in Asia Pacific, and building solutions in Europe, the Middle East, Africa, and Latin America (EMEA/LA). Building solutions designs, services, and installs HVAC equipment. Building solution sales tend to be made directly by the company.
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Time to Buy This Dividend Stock on a Dip?