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Johnson Controls Acquires Thermostat Leader Lux Products
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Johnson Controls International plc (JCI - Free Report) has acquired assets of Philadelphia-based Lux Products Corp. (”LUX”) for an unspecified amount. With the acquisition of LUX, which specializes in residential thermostats and smart home products, Johnson Controls bolsters its position in the thermostat market.
This acquisition enhances Cork, Ireland-based diversified technology company and multi-industrial leader Johnson Controls’ capability to offer superior products to customers, enabling innovation. On the other hand, Rob Munin, CEO of LUX and newly named general manager, Thermostats for Johnson Controls stated, “Together, we will enhance a strong position in the residential channel and look forward to expanding our offerings to serve a wide range of customers.”
Importantly, announcement of this acquisition followed the launch of Johnson Controls’ GLAS, the new smart thermostat, with OLED touchscreen display and several high-tech features. For Johnson Controls, the acquisition of LUX raises its commitment to thermostats market. The recent acquisition also enables faster product development cycles, enhances customer service capabilities and supports greater product innovation.
Over the past six months, shares of Johnson Controls have underperformed the industry it belongs to. Over this time frame, shares of the company have inched up 1.6%, whereas the industry increased 6.3%.
Ferrari has an expected long-term growth rate of 17.3%. Over a year, shares of the company soared 20.2%.
Allison Transmission has an expected long-term growth rate of 10%. Over the past year, shares of the company have surged 42.3%.
Navistar has an expected long-term growth rate of 5%. Over the past six months, shares of the company have risen 9.5%.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers.Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
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Johnson Controls Acquires Thermostat Leader Lux Products
Johnson Controls International plc (JCI - Free Report) has acquired assets of Philadelphia-based Lux Products Corp. (”LUX”) for an unspecified amount. With the acquisition of LUX, which specializes in residential thermostats and smart home products, Johnson Controls bolsters its position in the thermostat market.
This acquisition enhances Cork, Ireland-based diversified technology company and multi-industrial leader Johnson Controls’ capability to offer superior products to customers, enabling innovation. On the other hand, Rob Munin, CEO of LUX and newly named general manager, Thermostats for Johnson Controls stated, “Together, we will enhance a strong position in the residential channel and look forward to expanding our offerings to serve a wide range of customers.”
Importantly, announcement of this acquisition followed the launch of Johnson Controls’ GLAS, the new smart thermostat, with OLED touchscreen display and several high-tech features. For Johnson Controls, the acquisition of LUX raises its commitment to thermostats market. The recent acquisition also enables faster product development cycles, enhances customer service capabilities and supports greater product innovation.
Over the past six months, shares of Johnson Controls have underperformed the industry it belongs to. Over this time frame, shares of the company have inched up 1.6%, whereas the industry increased 6.3%.
Zacks Rank & Stocks to Consider
Currently, Johnson Controls has a Zacks Rank #3 (Hold). A few better-ranked stocks in the auto space are Ferrari N.V. (RACE - Free Report) , Allison Transmission Holdings, Inc. (ALSN - Free Report) and Navistar International Corporation , each having a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Ferrari has an expected long-term growth rate of 17.3%. Over a year, shares of the company soared 20.2%.
Allison Transmission has an expected long-term growth rate of 10%. Over the past year, shares of the company have surged 42.3%.
Navistar has an expected long-term growth rate of 5%. Over the past six months, shares of the company have risen 9.5%.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers.Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
See Zacks Best EV Stock Free >>