Invesco Ltd. Purchases 74,051 Shares of 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. boosted its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,062,941 shares of the company's stock after purchasing an additional 74,051 shares during the quarter. Invesco Ltd. owned about 0.72% of Resideo Technologies worth $18,814,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Steph & Co. raised its holdings in Resideo Technologies by 6.9% in the 1st quarter. Steph & Co. now owns 12,209 shares of the company's stock valued at $216,000 after acquiring an additional 787 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Resideo Technologies by 8.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,582 shares of the company's stock valued at $267,000 after acquiring an additional 933 shares in the last quarter. Versant Capital Management Inc raised its holdings in Resideo Technologies by 52.1% in the 1st quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock valued at $56,000 after acquiring an additional 1,087 shares in the last quarter. Quarry LP acquired a new position in Resideo Technologies in the 4th quarter valued at approximately $28,000. Finally, Nilsine Partners LLC raised its holdings in Resideo Technologies by 8.0% in the 1st quarter. Nilsine Partners LLC now owns 16,858 shares of the company's stock valued at $298,000 after acquiring an additional 1,251 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company's stock.

Insider Activity at Resideo Technologies

In other Resideo Technologies news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 250,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was purchased at an average cost of $32.16 per share, with a total value of $8,040,000.00. Following the acquisition, the insider directly owned 12,815,208 shares of the company's stock, valued at approximately $412,137,089.28. This trade represents a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jay L. Geldmacher sold 47,500 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were 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 $16,261,068.81. This represents a 8.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 7,060,707 shares of company stock valued at $177,795,316 and sold 132,688 shares valued at $3,976,654. Insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

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

Resideo Technologies Price Performance

Shares of REZI traded up $1.8860 during mid-day trading on Friday, reaching $33.9960. The company had a trading volume of 2,109,973 shares, compared to its average volume of 2,163,590. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $34.25. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63. The company's 50-day moving average is $25.49 and its 200-day moving average is $21.10. The company has a market capitalization of $5.06 billion, a P/E ratio of -6.23 and a beta of 2.16.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.83 billion. During the same period in the prior year, the firm posted $0.62 EPS. Resideo Technologies's quarterly revenue was up 22.3% compared to the same quarter last year. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. On average, equities analysts anticipate 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.