JPMorgan Chase & Co. Purchases 177,403 Shares of Resideo Technologies, Inc. $REZI

Key Points

• JPMorgan Chase & Co. increased its position in Resideo by 17.7%, buying 177,403 shares to own 1,177,769 shares worth about $50.9M (≈0.79% of the company) after Q3 filings.
• Other institutions also ramped up holdings—most notably Clayton Dubilier & Rice bought 7.52M shares to hold 13.29M (~$573.7M)—and institutional ownership totals 91.71%.
• Analyst views are mixed: the consensus rating is Hold with a $39.67 target, although Morgan Stanley raised its target to $50 and assigned an overweight rating.

JPMorgan Chase & Co. grew its position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 17.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,177,769 shares of the company's stock after purchasing an additional 177,403 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.79% of Resideo Technologies worth $50,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clayton Dubilier & Rice LLC boosted its position in Resideo Technologies by 130.3% during the 3rd quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company's stock worth $573,706,000 after buying an additional 7,516,233 shares during the period. Geode Capital Management LLC increased its position in Resideo Technologies by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,501,932 shares of the company's stock valued at $77,261,000 after acquiring an additional 55,666 shares during the period. Prudential Financial Inc. increased its position in Resideo Technologies by 12.8% in the 2nd quarter. Prudential Financial Inc. now owns 2,860,731 shares of the company's stock valued at $63,108,000 after acquiring an additional 325,410 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Resideo Technologies by 365.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,966,157 shares of the company's stock valued at $84,899,000 after acquiring an additional 1,543,952 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Resideo Technologies by 1,325.0% during the third 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 during the period. 91.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on REZI shares. Oppenheimer reissued an "outperform" rating on shares of Resideo Technologies in a research note on Friday, March 13th. Morgan Stanley lifted their target price on Resideo Technologies from $42.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Resideo Technologies in a research note on Thursday, January 22nd. 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 company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $39.67.

Resideo Technologies Trading Down 2.6%

NYSE:REZI opened at $32.75 on Friday. Resideo Technologies, Inc. has a 52 week low of $14.18 and a 52 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 firm's fifty day moving average is $35.93 and its 200-day moving average is $36.80. The firm has a market cap of $4.95 billion, a P/E ratio of -8.13 and a beta of 1.71.

Resideo Technologies Profile

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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