Activist hedge fund Elliot Investment Management acquires a $1bn stake in underperforming Johnson Controls.
Activist hedge fund Elliot Investment Management has built a $1 billion position in Johnson Controls, a building controls and HVAC company, causing its stock to rise. The fund's involvement suggests that Johnson's management could improve investor value. The stock has underperformed its HVAC peers and the S&P 500, making it an attractive dip-buying option but less ideal for long-term investors.
May 25, 2024
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