Last $50.73 USD
Change Today +0.32 / 0.63%
Volume 1.8M
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As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

johnson controls inc (JCI) Key Developments

Johnson Controls Agrees to Pay Former Employees $2.8 Million in Class Action Lawsuit

Johnson Controls Inc. has agreed to pay $2.8 million to its California employees to settle a class action lawsuit filed over vacation and final wage pay, according to court documents filed in a U.S. District Court in the Northern District of California. The 1,441 former non-union Johnson Controls employees that worked in California allege that Johnson Controls owed them compensation for vacation, final wages and inaccurate itemized wage statements from April 15, 2009, to now. Johnson Controls denied the claims. However, both parties agreed to work through a mediator to reach a settlement. According to court records, a motion for settlement has been filed along with a preliminary approval of a class action settlement. However, Magistrate Judge Paul Grewal has not formally approved the proposed order, which is set for a motion hearing on July 29.

Johnson Controls Inc. Elects Simon Davis as Vice President and Assistant Chief Human Resources Officer

Johnson Controls announced that its board of directors has elected Simon Davis as vice president and assistant chief Human Resources officer, making him a corporate officer effective immediately. Simon will continue reporting to Susan Davis, executive vice president, Human Resources. Davis, who joined Johnson Controls in 1997 in the United Kingdom, most recently served as vice president Talent Strategy and Organizational Excellence where he was responsible for the Human Resources transformation design and implementation, including the establishment of global centers of excellence and shared services.

Johnson Controls Inc. Reports Earnings Results for the Six Months Ended March 31, 2014

Johnson Controls Inc. reported earnings results for the six months ended March 31, 2014. For the period, the company reported net income from continuing operations attributable to the company of $884 million. Earnings were $1,239 million.

Johnson Controls Opens New Automotive Battery Manufacturing Plant in China

Johnson Controls announced that it is growing its presence in China by opening a new automotive battery manufacturing plant that will produce 6 million automotive batteries per year in the new vehicle market, where 22 million new vehicles are produced annually. The global multi-industrial company's new 133,000 square meter facility in Chongqing City reflects an investment of $154 million. Located in Fuling District of Chongqing, in Western China, the new plant will bring technology and services to customers. The new plant in Chongqing is expected to create more than 500 jobs once at full capacity. Johnson Controls entered the Chinese automotive supply market with batteries in 2005 and continues to invest in bringing advanced technologies, capacity and technical capabilities to China.

OSU Announces Partnership with Johnson Controls, Inc

OSU in partnership with Johnson Controls Inc. (JCI), installed a series of air flow management systems that ventilate labs and common areas of the research facility with fresh air based on occupancy and air quality levels instead of constant air exchanges which waste energy and may be unnecessary. These technologies are expected to save more than $5.1 million dollars over the next 20 years and reduce carbon emission levels equivalent to the impact that would be felt if: 7,492 pine trees were planted, 81,000 barrels of oil were not burned, or the energy consumption of 2,990 Oklahoma residences was eliminated.

 

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JCI

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Valuation JCI Industry Range
Price/Earnings 22.1x
Price/Sales 0.8x
Price/Book 2.9x
Price/Cash Flow 24.3x
TEV/Sales 0.6x
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