Johnson Controls is a global industrial company founded in 1885 and headquartered in Cork, Ireland. The company, which employs approximately 100,000 people across 150 countries, creates intelligent buildings, efficient energy solutions, integrated infrastructure, and transportation systems. The shares are a component of the S&P 500.
INDUSTRIAL
Our rating on the Industrial sector is Market-Weight. Although valuations are attractive, that mainly reflects weak share prices. In a high interest-rate environment, enterprise demand for industrial solutions has softened and may take time to recover.
As of the end of September, the sector accounted for 8.5% of S&P 500 market capitalization. Over the past five years, the weighting has ranged from 8% to 12%. The sector includes industries such as transportation, aerospace & defense, heavy machinery, and electrical equipment.
The sector was underperforming the market with a gain of