Resideo Technologies (NYSE:REZI) SVP Purchases $225,991.04 in Stock

Resideo Technologies, Inc. (NYSE:REZI) SVP Amit Ashvin Mehta acquired 10,928 shares of the stock in a transaction dated Monday, August 17th. The shares were bought at an average cost of $20.68 per share, with a total value of $225,991.04. Following the completion of the purchase, the senior vice president directly owned 57,362 shares in the company, valued at approximately $1,186,246.16. This trade represents a 23.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Resideo Technologies Trading Down 7.1%

REZI stock opened at $20.01 on Friday. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 8.85 and a beta of 1.63. The business has a fifty day simple moving average of $30.61 and a 200-day simple moving average of $33.55. Resideo Technologies, Inc. has a 52 week low of $19.84 and a 52 week high of $45.29.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.36. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. On average, equities research analysts expect that Resideo Technologies, Inc. will post 2.81 EPS for the current year.

Institutional Trading of Resideo Technologies

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Resideo Technologies during the 2nd quarter worth $673,214,000. Clayton Dubilier & Rice LLC grew its stake in shares of Resideo Technologies by 12.7% during the fourth quarter. Clayton Dubilier & Rice LLC now owns 14,976,142 shares of the company’s stock valued at $525,962,000 after acquiring an additional 1,689,758 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Resideo Technologies by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 7,787,434 shares of the company’s stock valued at $262,505,000 after acquiring an additional 64,613 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Resideo Technologies by 51.4% during the fourth quarter. Franklin Resources Inc. now owns 2,860,308 shares of the company’s stock valued at $100,454,000 after acquiring an additional 971,643 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Resideo Technologies by 13.6% during the first quarter. Swedbank AB now owns 2,665,123 shares of the company’s stock worth $89,841,000 after acquiring an additional 318,204 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. JPMorgan Chase & Co. initiated coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, Seaport Research Partners started coverage on shares of Resideo Technologies in a report on Wednesday, July 1st. They set a “buy” rating and a $55.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.00.

About Resideo Technologies

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.