Reported 5 months ago
The article discusses how activist hedge fund Elliott Investment Management has acquired a $1 billion position in Johnson Controls, a building controls and HVAC company, leading to an increase in the stock's value. It highlights Johnson Controls' underperformance compared to its peers and the S&P 500, as well as management's failure to meet earnings guidance. The article outlines the challenges faced by the company in achieving its 2024 revenue growth targets and the potential for activist intervention to drive positive change. Investors are advised to consider the risk/reward potential of investing in Johnson Controls amidst the possibility of shareholder activism influencing the company's future direction.
Source: YAHOO