Bank of America Corp DE Has $24.54 Million Stake in Resideo Technologies, Inc. (NYSE:REZI)

Bank of America Corp DE decreased its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,064,519 shares of the company's stock after selling 130,049 shares during the quarter. Bank of America Corp DE owned about 0.72% of Resideo Technologies worth $24,537,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. CIBC Asset Management Inc increased its stake in shares of Resideo Technologies by 4.5% during the 4th quarter. CIBC Asset Management Inc now owns 14,546 shares of the company's stock valued at $335,000 after acquiring an additional 624 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in shares of Resideo Technologies by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 15,280 shares of the company's stock valued at $352,000 after buying an additional 663 shares during the period. Highland Capital Management LLC raised its holdings in shares of Resideo Technologies by 6.5% during the 4th quarter. Highland Capital Management LLC now owns 10,854 shares of the company's stock valued at $250,000 after buying an additional 666 shares during the period. Blue Trust Inc. raised its holdings in shares of Resideo Technologies by 28.9% during the 4th quarter. Blue Trust Inc. now owns 3,241 shares of the company's stock valued at $75,000 after buying an additional 726 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in Resideo Technologies by 8.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,582 shares of the company's stock worth $267,000 after purchasing an additional 933 shares during the last quarter. Hedge funds and other institutional investors own 91.71% of the company's stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lowered Resideo Technologies from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $31.00 to $16.00 in a research report on Tuesday, April 22nd.

Insider Activity

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 5,754,501 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were purchased at an average cost of $17.38 per share, with a total value of $100,013,227.38. Following the completion of the transaction, the insider now owns 5,754,501 shares of the company's stock, valued at approximately $100,013,227.38. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.50% of the company's stock.

Resideo Technologies Stock Performance

Shares of REZI traded down $0.29 during mid-day trading on Friday, hitting $19.89. The stock had a trading volume of 693,489 shares, compared to its average volume of 973,817. Resideo Technologies, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $28.28. The company has a market cap of $2.95 billion, a PE ratio of 31.57 and a beta of 2.23. The company has a quick ratio of 1.10, a current ratio of 1.82 and a debt-to-equity ratio of 0.69. The company's fifty day simple moving average is $17.66 and its two-hundred day simple moving average is $21.14.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.08). Resideo Technologies had a net margin of 1.69% and a return on equity of 11.12%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.84 billion. On average, equities analysts expect that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

About Resideo Technologies

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.