Resideo Technologies (NYSE:REZI) SVP Buys 10,928 Shares

Resideo Technologies, Inc. (NYSE:REZI) SVP Amit Ashvin Mehta bought 10,928 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was acquired at an average cost of $20.68 per share, with a total value of $225,991.04. Following the completion of the acquisition, the senior vice president owned 57,362 shares of the company’s stock, valued at $1,186,246.16. This represents a 23.53% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $20.75 on Tuesday. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 9.18 and a beta of 1.63. The firm’s fifty day moving average is $31.21 and its 200 day moving average is $33.82. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. Resideo Technologies, Inc. has a 52-week low of $20.10 and a 52-week high of $45.29.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the company posted $0.66 EPS. The business’s revenue was up 2.0% on a year-over-year basis. Sell-side analysts forecast that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.

Institutional Trading of Resideo Technologies

A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in shares of Resideo Technologies by 50.0% in the first quarter. Royal Bank of Canada now owns 49,395 shares of the company’s stock valued at $873,000 after acquiring an additional 16,467 shares in the last quarter. AQR Capital Management LLC grew its stake in Resideo Technologies by 58.9% during the 1st quarter. AQR Capital Management LLC now owns 122,734 shares of the company’s stock worth $2,172,000 after buying an additional 45,517 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Resideo Technologies by 7.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 126,161 shares of the company’s stock valued at $2,233,000 after purchasing an additional 9,106 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Resideo Technologies by 1,123.6% during the first quarter. Millennium Management LLC now owns 263,821 shares of the company’s stock valued at $4,670,000 after buying an additional 242,260 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Resideo Technologies by 6.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 439,149 shares of the company’s stock valued at $7,773,000 after purchasing an additional 26,254 shares during the period. 91.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on REZI. Oppenheimer restated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday. JPMorgan Chase & Co. began coverage on Resideo Technologies in a research report on Friday, August 7th. They set a “neutral” rating and a $30.00 target price on the stock. Weiss Ratings upgraded Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday. Morgan Stanley dropped their price objective on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Finally, Zacks Research cut shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $41.00.

Resideo Technologies Company Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.