BlackRock Cuts Johnson Controls Stake to 7.9%
Ticker: JCI · Form: SC 13G/A · Filed: Feb 6, 2024 · CIK: 833444
| Field | Detail |
|---|---|
| Company | Johnson Controls International PLC (JCI) |
| Form Type | SC 13G/A |
| Filed Date | Feb 6, 2024 |
| Risk Level | medium |
| Sentiment | mixed |
Complexity: simple
Sentiment: mixed
Topics: institutional-ownership, stake-change, amendment, blackrock
TL;DR
**BlackRock trimmed its JCI stake to 7.9%, watch for market reaction.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on February 6, 2024, disclosing its ownership in Johnson Controls International plc as of December 31, 2023. BlackRock now beneficially owns 57,092,230 shares of Common Stock, representing 7.9% of the company, a decrease from its previous reported stake. This matters to investors because BlackRock is a major institutional investor, and a reduction in their stake could signal a shift in their investment strategy or outlook on Johnson Controls, potentially influencing other investors.
Why It Matters
A decrease in a significant institutional investor's stake, like BlackRock's, can be interpreted as a lack of conviction or a reallocation of capital, potentially impacting investor sentiment and the stock price.
Risk Assessment
Risk Level: medium — While not a massive sell-off, a reduction by a major holder like BlackRock introduces some uncertainty and could signal potential headwinds for Johnson Controls.
Analyst Insight
Investors should monitor Johnson Controls' upcoming earnings reports and news for any specific reasons behind BlackRock's reduced stake, and consider if this aligns with their own investment thesis for the company.
Key Numbers
- 57,092,230 — Shares Beneficially Owned (This is the total number of Johnson Controls shares BlackRock Inc. reported owning as of December 31, 2023.)
- 7.9% — Percentage of Class (This represents BlackRock Inc.'s ownership percentage of Johnson Controls International plc's Common Stock, indicating a reduction from previous filings.)
Key Players & Entities
- BlackRock Inc. (company) — filer and institutional investor
- Johnson Controls International plc (company) — subject company whose shares are being reported
- 57,092,230 (dollar_amount) — number of shares beneficially owned by BlackRock
- 7.9% (dollar_amount) — percentage of Johnson Controls' common stock owned by BlackRock
- December 31, 2023 (date) — date of the event requiring the filing
- February 6, 2024 (date) — filing date of the SC 13G/A
Forward-Looking Statements
- Other institutional investors may re-evaluate their positions in Johnson Controls International plc following BlackRock's reduced stake. (Johnson Controls International plc) — medium confidence, target: Q1 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 9) by BlackRock Inc. to report its beneficial ownership of Johnson Controls International plc's Common Stock as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the filer of this SC 13G/A?
The filer of this SC 13G/A is BlackRock Inc., a major institutional investment manager with a Central Index Key (CIK) of 0001364742.
What is the subject company of this filing?
The subject company is Johnson Controls International plc, identified by CIK 0000833444, which operates in the Air Conditioning & Warm Air Heating Equipment & Commercial & Industrial Refrigeration Equipment industry.
How many shares of Johnson Controls International plc does BlackRock Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock Inc. beneficially owns 57,092,230 shares of Johnson Controls International plc's Common Stock, representing 7.9% of the class.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, which is the reporting date for the ownership stake.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 6, 2024 regarding Johnson Controls International plc (JCI).