Bank of America Corp DE Sells 130,049 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Bank of America Corp DE decreased its stake in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in Resideo Technologies in the 4th quarter worth approximately $122,145,000. Boston Partners grew its holdings in shares of Resideo Technologies by 25.1% in the fourth quarter. Boston Partners now owns 9,797,883 shares of the company's stock valued at $225,865,000 after purchasing an additional 1,966,706 shares in the last quarter. Norges Bank bought a new stake in Resideo Technologies in the fourth quarter worth $40,596,000. Federated Hermes Inc. bought a new stake in Resideo Technologies in the fourth quarter worth $35,542,000. Finally, Pembroke Management LTD raised its stake in Resideo Technologies by 126.8% during the fourth quarter. Pembroke Management LTD now owns 667,421 shares of the company's stock valued at $15,384,000 after purchasing an additional 373,133 shares in the last quarter. Institutional investors own 91.71% of the company's stock.

Resideo Technologies Trading Down 3.7%

NYSE REZI traded down $0.78 during trading hours on Wednesday, hitting $20.04. 798,224 shares of the company were exchanged, compared to its average volume of 969,434. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 week high of $28.28. 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 stock has a 50-day moving average price of $17.56 and a 200 day moving average price of $21.15. The stock has a market cap of $2.98 billion, a PE ratio of 31.80 and a beta of 2.23.

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

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut shares of Resideo Technologies from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $31.00 to $16.00 in a research note on Tuesday, April 22nd.

Insider Buying and Selling

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R bought 5,754,501 shares of the firm's stock in a transaction dated Friday, May 9th. The stock was acquired at an average cost of $17.38 per share, for a total transaction of $100,013,227.38. Following the completion of the transaction, the insider now owns 5,754,501 shares in the company, valued at $100,013,227.38. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is owned by corporate insiders.

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.