Johnson Controls International plc (JCI) Delivered Strong Performance in Q4

ClearBridge Investments, an investment management company, released its “ClearBridge Aggressive Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark index, the Russell 3000 Growth Index, in the fourth quarter. On an absolute basis, the strategy gained in seven of the eight sectors it invested in the quarter. The communication services sector was the primary contributor while the IT sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Aggressive Growth Strategy highlighted stocks like Johnson Controls International plc (NYSE:JCI) in its Q4 2022 investor letter. Headquartered in Cork, Ireland, Johnson Controls International plc (NYSE:JCI) operates in engineering, manufacturing, commissioning, and retrofitting building products and systems. On March 8, 2023, Johnson Controls International plc (NYSE:JCI) stock closed at $65.02 per share. One-month return of Johnson Controls International plc (NYSE:JCI) was 0.51%, and its shares gained 5.79% of their value over the last 52 weeks. Johnson Controls International plc (NYSE:JCI) has a market capitalization of $44.982 billion.

ClearBridge Aggressive Growth Strategy made the following comment about Johnson Controls International plc (NYSE:JCI) in its Q4 2022 investor letter:

“On an individual stock basis, positions in Broadcom, Comcast, Johnson Controls International plc (NYSE:JCI), Madison Square Garden Sports and Twitter were the leading contributors to absolute returns during the period. HVAC and building services provider Johnson Controls, meanwhile, saw a normalization of supply chain and semiconductor shortages lead to better operating results and subsequent strong performance.”

Engineer

Johnson Controls International plc (NYSE:JCI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held Johnson Controls International plc (NYSE:JCI) at the end of the fourth quarter which was 37 in the previous quarter.

We discussed Johnson Controls International plc (NYSE:JCI) in another article and shared Ken Fisher’s new purchases/additions. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.