Deutsche Bank AG Buys Shares of 156,129 Resideo Technologies, Inc. $REZI

Key Points

• Deutsche Bank initiated a position in Resideo Technologies by purchasing 156,129 shares valued at approximately $4.86 million. Institutional investors collectively own 91.71% of the company.
• Analysts have a mixed outlook, with ratings ranging from buy to sell; the stock carries a consensus “Hold” rating and a $41 price target.
• Resideo reported quarterly EPS of $0.83, beating estimates of $0.47, while revenue reached $1.98 billion, up 2% year over year. However, shares opened at $19.91, near their 52-week low of $18.96.

Deutsche Bank AG acquired a new position in Resideo Technologies, Inc. (NYSE:REZI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 156,129 shares of the company's stock, valued at approximately $4,856,000. Deutsche Bank AG owned 0.10% of Resideo Technologies as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Resideo Technologies by 1,325.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company's stock worth $81,553,000 after purchasing an additional 1,756,131 shares in the last quarter. Clayton Dubilier & Rice LLC lifted its stake in 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 buying an additional 1,689,758 shares in the last quarter. Sachem Head Capital Management LP acquired a new position in shares of Resideo Technologies in the fourth quarter worth about $57,070,000. Norges Bank purchased a new position in shares of Resideo Technologies in the fourth quarter worth approximately $56,059,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Resideo Technologies by 365.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,966,157 shares of the company's stock worth $84,899,000 after acquiring an additional 1,543,952 shares in the last quarter. Institutional investors own 91.71% of the company's stock.

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Analysts Set New Price Targets

REZI has been the topic of several recent analyst reports. Weiss Ratings raised shares of Resideo Technologies from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, August 14th. Morgan Stanley dropped their price target on Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Oppenheimer reissued an "outperform" rating on shares of Resideo Technologies in a research note on Thursday, August 13th. Seaport Research Partners started coverage on Resideo Technologies in a research note on Wednesday, July 1st. They set a "buy" rating and a $55.00 target price on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Resideo Technologies in a report on Friday, August 7th. They issued a "neutral" rating and a $30.00 target price on the stock. Two 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. Based on data from MarketBeat.com, Resideo Technologies presently has a consensus rating of "Hold" and a consensus price target of $41.00.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, SVP Joshua Peter Foster acquired 15,317 shares of the company's stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the purchase, the senior vice president owned 183,509 shares of the company's stock, valued at approximately $3,776,615.22. This trade represents a 9.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Amit Ashvin Mehta acquired 10,928 shares of Resideo Technologies stock in a transaction dated 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 transaction, the senior vice president directly owned 57,362 shares of the company's stock, valued at $1,186,246.16. This trade represents a 23.53% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 41,245 shares of company stock worth $848,115. 1.60% of the stock is owned by insiders.

Resideo Technologies Price Performance

Shares of NYSE:REZI opened at $19.91 on Wednesday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 8.81 and a beta of 1.63. Resideo Technologies, Inc. has a 1 year low of $18.96 and a 1 year high of $45.29. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The business has a fifty day simple moving average of $29.90 and a 200 day simple moving average of $33.21.

Resideo Technologies (NYSE:REZI - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Resideo Technologies, Inc. will post 2.81 earnings per share for the current fiscal year.

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.

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