Report
David Whiston, CFA, CPA, CFE
EUR 147.86 For Business Accounts Only

Johnson Controls-Tyco Merger and Upcoming Auto Spin-Off Strengthens Our Moat Trend Outlook

Johnson Controls will merge with Tyco International on Sept. 2 and is expected to spin-off its automotive seating business, Adient, to shareholders on Oct. 31. As we are in the process of transferring coverage to a new analyst after the spin-off, we have taken a fresh look at the impact of the Tyco merger and Adient divestiture. We believe these two transactions will result in a more profitable and consistent (that is, less cyclical) business, one with much less exposure to the volatility of the...
Underlying
Johnson Controls International plc

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
David Whiston, CFA, CPA, CFE

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