Dodge & Cox Cuts Johnson Controls Stake to 5.9%

TL;DR

**Dodge & Cox just trimmed its JCI stake to 5.9%.**

AI Summary

Dodge & Cox, a California-based investment management firm, filed an amended SC 13G/A on February 8, 2024, disclosing its ownership of 42,912,940 Ordinary Shares of Johnson Controls International plc as of December 31, 2023. This represents a 5.9% stake in the company, a decrease from their previously reported holdings. This matters to investors because it indicates a significant institutional investor has reduced its position, which could signal a change in their outlook on the stock's future performance.

Why It Matters

A major institutional investor reducing its stake can influence market sentiment and potentially signal concerns about the company's future prospects or valuation.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its holdings could indicate a perceived increase in risk or a less favorable outlook for the company.

Analyst Insight

Investors should investigate the reasons behind Dodge & Cox's reduced stake in Johnson Controls International plc and consider if those factors align with their own investment thesis before making any decisions.

Key Numbers

• 42,912,940 — Shares Owned (The total number of Johnson Controls Ordinary Shares Dodge & Cox beneficially owned as of December 31, 2023.)
• 5.9% — Ownership Percentage (The percentage of Johnson Controls' Ordinary Shares owned by Dodge & Cox, indicating a significant but reduced stake.)
• December 31, 2023 — Reporting Date (The specific date for which the ownership data is reported, crucial for understanding the timeliness of the information.)

Key Players & Entities

• Dodge & Cox (company) — the investment management firm filing the SC 13G/A
• Johnson Controls International plc (company) — the subject company whose shares are being reported
• 42,912,940 (dollar_amount) — number of Ordinary Shares beneficially owned by Dodge & Cox
• 5.9% (dollar_amount) — percentage of Johnson Controls International plc's class of securities owned by Dodge & Cox
• December 31, 2023 (date) — the date of the event requiring the filing
• February 8, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• Other institutional investors may re-evaluate their positions in Johnson Controls International plc following Dodge & Cox's reduction. (Johnson Controls International plc) — medium confidence, target: Q1 2024

FAQ

From the Filing

0001193125-24-027977.txt : 20240208 0001193125-24-027977.hdr.sgml : 20240208 20240208122756 ACCESSION NUMBER: 0001193125-24-027977 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240208 DATE AS OF CHANGE: 20240208 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Johnson Controls International plc CENTRAL INDEX KEY: 0000833444 STANDARD INDUSTRIAL CLASSIFICATION: AIR COND & WARM AIR HEATING EQUIP & COMM & INDL REFRIG EQUIP [3585] ORGANIZATION NAME: 06 Technology IRS NUMBER: 000000000 STATE OF INCORPORATION: L2 FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43685 FILM NUMBER: 24607884 BUSINESS ADDRESS: STREET 1: ONE ALBERT QUAY STREET 2: ALBERT QUAY CITY: CORK STATE: L2 ZIP: 00000 BUSINESS PHONE: 414-524-1200 MAIL ADDRESS: STREET 1: 5757 N. GREEN BAY AVENUE STREET 2: P.O. BOX 591 CITY: MILWAUKEE STATE: WI ZIP: 53201 FORMER COMPANY: FORMER CONFORMED NAME: TYCO INTERNATIONAL plc DATE OF NAME CHANGE: 20141117 FORMER COMPANY: FORMER CONFORMED NAME: TYCO INTERNATIONAL LTD DATE OF NAME CHANGE: 20100408 FORMER COMPANY: FORMER CONFORMED NAME: TYCO INTERNATIONAL LTD /BER/ DATE OF NAME CHANGE: 19970715 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DODGE & COX CENTRAL INDEX KEY: 0000200217 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 555 CALIFORNIA STREET STREET 2: 40TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 BUSINESS PHONE: 4159811710 MAIL ADDRESS: STREET 1: 555 CALIFORNIA STREET STREET 2: 40TH FLOOR CITY: SAN FRANCISCO STATE: CA ZIP: 94104 SC 13G/A 1 d754253dsc13ga.htm SC 13G/A SC 13G/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO.  7  )* JOHNSON CONTROLS INTERNATIONAL PLC (Name of Issuer) Ordinary Shares (Title of Class of Securities) G51502105 (CUSIP Number) December 31, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ Rule 13d-1(b) ☐ Rule 13d-1(c) ☐ Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). PAGE 1 OF 5 PAGES CUSIP NO. G51502105 13G PAGE 2 OF 5 PAGES  1   NAME OF REPORTING PERSON  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON  Dodge & Cox  94-1441976  2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*  (a) ☐  (b) ☐  N/A  3  SEC USE ONLY  4  CITIZENSHIP OR PLACE OF ORGANIZATION  California - U.S.A. NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH  5   SOLE VOTING POWER  64,780,061  6  SHARED VOTING POWER  0  7  SOLE DISPOSITIVE POWER  67,792,459  8  SHARED DISPOSITIVE POWER  0  9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON  67,792,459 10  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*  N/A 11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9  9.9% 12  TYPE OF REPORTING PERSON*  IA PAGE 2 OF 5 PAGES Item 1(a) Name of I