JCI - Why Shares in Johnson Controls Rose in March
2024-04-09 09:20:15 ET
Shares in Johnson Controls (NYSE: JCI) , a building products and heating, ventilation, air conditioning, and refrigeration (HVAC) company, rose 10.2% in March, according to data provided by S&P Global Market Intelligence . The move comes after two pieces of newsflow, which could be construed as plusses for the company.
Siemens Smart Infrastructure, part of Siemens AG , is named a large competitor of Johnson Controls in the latter's Securities and Exchange Commission (SEC) filings. As such, it's always interesting when its management comments on trading conditions, as it did in March during the Bank of America Industrials Conference.
Siemens CFO Ralf Thomas noted weakness in its automation business. Still, he said that the smart infrastructure business was tracking toward the high end of management's expectations in the quarter -- a good indication for Johnson Controls' end market prospects.
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Why Shares in Johnson Controls Rose in March