Deutsche Bank AG Sells 12,573 Shares of Resideo Technologies, Inc. $REZI

Key Points

• Deutsche Bank AG reduced its stake in Resideo Technologies by 9.3% in the first quarter, now owning approximately 0.08% of the company, valued at $2.18 million.
• Research analysts have recently upgraded Resideo Technologies, with Morgan Stanley raising its target price significantly from $24.00 to $35.00 and giving it an "overweight" rating.
• Insider sales included CEO Jay L. Geldmacher selling 47,500 shares at $31.29, resulting in a decrease in ownership of 8.37%.

Deutsche Bank AG lessened its stake in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,204 shares of the company's stock after selling 12,573 shares during the period. Deutsche Bank AG owned 0.08% of Resideo Technologies worth $2,181,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP bought a new position in Resideo Technologies in the 4th quarter worth approximately $28,000. IFP Advisors Inc raised its position in Resideo Technologies by 20,133.3% in the 1st quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock worth $43,000 after purchasing an additional 2,416 shares during the last quarter. Versant Capital Management Inc raised its position in Resideo Technologies by 52.1% in the 1st quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock worth $56,000 after purchasing an additional 1,087 shares during the last quarter. Sterling Capital Management LLC raised its position in Resideo Technologies by 705.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock worth $110,000 after purchasing an additional 4,165 shares during the last quarter. Finally, Natixis bought a new position in Resideo Technologies in the 4th quarter worth approximately $115,000. Institutional investors own 91.71% of the company's stock.

Wall Street Analysts Forecast Growth

REZI has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Morgan Stanley raised shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $24.00 to $35.00 in a research note on Tuesday, August 12th. Finally, Oppenheimer raised shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $28.00.

Insider Buying and Selling at Resideo Technologies

In other news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 4,477,919 shares of Resideo Technologies stock in a transaction dated Friday, July 25th. The shares were bought at an average cost of $22.33 per share, with a total value of $99,991,931.27. Following the completion of the transaction, the insider directly owned 10,232,420 shares in the company, valued at $228,489,938.60. This trade represents a 77.82% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have acquired 7,107,660 shares of company stock worth $179,370,672 and have sold 132,688 shares worth $3,976,654. 1.50% of the stock is currently owned by corporate insiders.

Resideo Technologies Trading Up 0.4%

Shares of NYSE REZI traded up $0.13 during midday trading on Tuesday, reaching $34.54. 1,860,204 shares of the stock were exchanged, compared to its average volume of 2,307,718. The business has a 50-day simple moving average of $26.03 and a two-hundred day simple moving average of $21.28. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -6.33 and a beta of 2.16. Resideo Technologies, Inc. has a 12 month low of $14.18 and a 12 month high of $34.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.12. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.83 billion. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. The business's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. As a group, equities research analysts expect that Resideo Technologies, Inc. will post 2.13 EPS 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.