Dimensional Fund Advisors LP Cuts Stock Holdings in Resideo Technologies, Inc. $REZI

Key Points

• Dimensional Fund Advisors cut its stake in Resideo by 5.5% in Q3, selling 458,836 shares and ending the quarter with 7,877,241 shares (about 5.26% ownership) valued at roughly $340.1 million.
• Institutional investors now own about 91.71% of Resideo, while several smaller funds either added to or initiated positions during the quarter.
• Analyst views are mixed with a MarketBeat consensus of "Hold" and an average target of $39.67; Morgan Stanley upgraded to "overweight" with a $50 target, and the stock trades around $36 with a 52‑week range of $14.18–$45.29 and a $5.45B market cap.

Dimensional Fund Advisors LP cut its position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 5.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,877,241 shares of the company's stock after selling 458,836 shares during the period. Dimensional Fund Advisors LP owned 5.26% of Resideo Technologies worth $340,123,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC raised its position in shares of Resideo Technologies by 588.2% in the third quarter. ORG Partners LLC now owns 585 shares of the company's stock worth $25,000 after acquiring an additional 500 shares during the period. Cullen Frost Bankers Inc. increased its stake in shares of Resideo Technologies by 1,778.8% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 620 shares of the company's stock valued at $27,000 after purchasing an additional 587 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Resideo Technologies by 128.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 934 shares of the company's stock worth $39,000 after purchasing an additional 525 shares during the period. Atlantic Union Bankshares Corp purchased a new position in Resideo Technologies during the third quarter worth approximately $43,000. Finally, Salomon & Ludwin LLC grew its holdings in Resideo Technologies by 3,591.2% in the third quarter. Salomon & Ludwin LLC now owns 1,255 shares of the company's stock valued at $54,000 after purchasing an additional 1,221 shares during the period. Institutional investors and hedge funds own 91.71% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Resideo Technologies in a research note on Thursday, January 22nd. Morgan Stanley boosted their price target on shares of Resideo Technologies from $42.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Wall Street Zen downgraded shares of Resideo Technologies from a "buy" rating to a "hold" rating in a report on Saturday, November 8th. Finally, Zacks Research lowered shares of Resideo Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 11th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $39.67.

Resideo Technologies Trading Down 3.2%

Shares of REZI stock opened at $36.05 on Friday. Resideo Technologies, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $45.29. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.14 and a current ratio of 1.91. The stock's fifty day moving average is $36.31 and its two-hundred day moving average is $36.76. The firm has a market capitalization of $5.45 billion, a P/E ratio of -8.95 and a beta of 1.71.

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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