Investing Recovery Act - Johnson Controls Inc Battery Facility

Holland, Michigan grab a share of the pie from the Recovery Act as Johnson Controls Inc. won a $299 million grant from the US government to build a battery manufacturing facility in Holland, Michigan.  Johnson Controls Inc is adding additional $299 million investment to the facility which would create high tech jobs in the automotive industry.  So far the project has created or kept 100 jobs and will eventually create 500 permanent jobs upon the completion of the project.  Johnson Controls is expected to ship its first battery to Ford and Azure dynamics in September of 2010, 10 months after receiving the grant.

Johnson Controls Inc, listed on NYSE under the symbol JCI, has market cap of $21.74 billion and makes $8.5 billion in the latest quarterly report.  The stock is trading at P/E ratio of 15.88 and is currently on a bullish uptrend as 20 day moving average is above 50 day moving average.  From the technical side the stock has the potential to hit $35 in the near term.  The annual dividend of 13 cents per share or 1.61% is another icing on the cake for the potential return investor should be getting from the stock that is in the industry of the future.