Resideo Technologies, Inc. $REZI Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Resideo Technologies, Inc. (NYSE:REZI) by 2.4% during the second quarter, Holdings Channel.com reports. The fund owned 1,012,668 shares of the company’s stock after selling 24,452 shares during the period. Bank of New York Mellon Corp’s holdings in Resideo Technologies were worth $22,339,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in Resideo Technologies by 20,133.3% in the 1st quarter. IFP Advisors Inc now owns 2,428 shares of the company’s stock valued at $43,000 after purchasing an additional 2,416 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Resideo Technologies during the first quarter worth $65,000. GAMMA Investing LLC boosted its position in shares of Resideo Technologies by 74.5% during the second quarter. GAMMA Investing LLC now owns 5,393 shares of the company’s stock worth $119,000 after buying an additional 2,302 shares during the period. Blue Trust Inc. grew its stake in shares of Resideo Technologies by 113.0% in the second quarter. Blue Trust Inc. now owns 6,101 shares of the company’s stock valued at $135,000 after buying an additional 3,237 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Resideo Technologies by 132.7% in the 2nd quarter. CWM LLC now owns 6,963 shares of the company’s stock valued at $154,000 after buying an additional 3,971 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on REZI shares. Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a report on Wednesday, October 8th. Wall Street Zen cut shares of Resideo Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research cut shares of Resideo Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Morgan Stanley raised shares of Resideo Technologies from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $24.00 to $35.00 in a research note on Tuesday, August 12th. Finally, Oppenheimer raised their price target on shares of Resideo Technologies from $35.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $34.67.

Resideo Technologies Stock Up 5.8%

REZI stock opened at $33.00 on Friday. The company’s 50 day moving average price is $39.93 and its 200 day moving average price is $29.94. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -7.05 and a beta of 2.22. Resideo Technologies, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $45.29. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.07 and a current ratio of 1.88.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.71 by $0.18. Resideo Technologies had a negative net margin of 8.85% and a positive return on equity of 14.96%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. Resideo Technologies has set its FY 2025 guidance at 2.570-2.670 EPS. Q4 2025 guidance at 0.420-0.520 EPS. On average, equities research analysts anticipate that Resideo Technologies, Inc. will post 2.13 EPS for the current fiscal year.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 566,758 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $31.82 per share, with a total value of $18,034,239.56. Following the completion of the acquisition, the insider directly owned 14,960,492 shares of the company’s stock, valued at $476,042,855.44. This represents a 3.94% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 2,976,534 shares of company stock worth $94,962,387 in the last three months. Insiders own 1.50% of the company’s stock.

Resideo Technologies Profile

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.