Invesco Ltd. Has $18.81 Million Stock Holdings in Resideo Technologies, Inc. $REZI

Key Points

• Invesco Ltd. increased its stake in Resideo Technologies, acquiring an additional 74,051 shares, raising its ownership to approximately 1,062,941 shares, valued at $18.8 million.
• Several analysts upgraded Resideo Technologies, with Morgan Stanley raising their target price from $24 to $35, reflecting increasing confidence in the stock's performance.
• Resideo Technologies posted a strong quarterly earnings report with $0.66 EPS, surpassing estimates and showing a 22.3% year-over-year revenue increase.

Invesco Ltd. increased its position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 7.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,062,941 shares of the company's stock after buying an additional 74,051 shares during the quarter. Invesco Ltd. owned 0.72% of Resideo Technologies worth $18,814,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new position in Resideo Technologies in the fourth quarter valued at approximately $28,000. IFP Advisors Inc grew its stake in Resideo Technologies by 20,133.3% in the first quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock valued at $43,000 after purchasing an additional 2,416 shares in the last quarter. Versant Capital Management Inc grew its stake in Resideo Technologies by 52.1% in the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock valued at $56,000 after purchasing an additional 1,087 shares in the last quarter. Natixis bought a new position in Resideo Technologies in the fourth quarter valued at approximately $115,000. Finally, Exchange Traded Concepts LLC grew its stake in Resideo Technologies by 1,261.2% in the first quarter. Exchange Traded Concepts LLC now owns 7,160 shares of the company's stock valued at $127,000 after purchasing an additional 6,634 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors.

Resideo Technologies Stock Performance

Shares of REZI traded up $0.12 during mid-day trading on Wednesday, reaching $34.68. The company's stock had a trading volume of 1,430,406 shares, compared to its average volume of 2,353,549. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $34.84. The stock has a market cap of $5.16 billion, a P/E ratio of -6.35 and a beta of 2.16. The business has a 50-day simple moving average of $26.31 and a two-hundred day simple moving average of $21.37. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.12. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%.The company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same period last year, the firm posted $0.62 earnings per share. The business's revenue was up 22.3% on a year-over-year basis. 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 anticipate that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeannine J. Lane sold 35,398 shares of Resideo Technologies stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $31.31, for a total transaction of $1,108,311.38. Following the completion of the sale, the executive vice president directly owned 155,136 shares of the company's stock, valued at approximately $4,857,308.16. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jay L. Geldmacher sold 47,500 shares of Resideo Technologies stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $31.29, for a total value of $1,486,275.00. Following the sale, the chief executive officer directly owned 519,689 shares of the company's stock, valued at approximately $16,261,068.81. The trade was a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders bought 7,107,660 shares of company stock valued at $179,370,672 and sold 132,688 shares valued at $3,976,654. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on REZI shares. Oppenheimer upgraded Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley upgraded Resideo Technologies from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $24.00 to $35.00 in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. raised their price target on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $28.00.

Resideo Technologies Company 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.