21,205 Shares in Resideo Technologies, Inc. (NYSE:REZI) Purchased by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC has acquired a new stake in Resideo Technologies, buying 21,205 shares valued at approximately $375,000 during Q1 2023.
• Resideo Technologies saw significant activity from other hedge funds, with 91.71% of the stock owned by institutional investors and hedge funds, indicating robust institutional interest.
• Oppenheimer upgraded Resideo Technologies to an "outperform" rating, while JPMorgan Chase raised its target price from $20.00 to $21.00, signaling positive analyst sentiment.

New Age Alpha Advisors LLC bought a new position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,205 shares of the company's stock, valued at approximately $375,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in REZI. Quarry LP acquired a new stake in shares of Resideo Technologies during the 4th quarter worth approximately $28,000. IFP Advisors Inc lifted its stake in Resideo Technologies by 20,133.3% in the 1st 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 during the last quarter. Versant Capital Management Inc lifted its stake 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 purchasing an additional 1,087 shares during the last quarter. Sterling Capital Management LLC lifted its stake in Resideo Technologies by 705.9% in the 4th quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock valued at $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 valued at approximately $115,000. Institutional investors and hedge funds own 91.71% of the company's stock.

Insider Buying and Selling at Resideo Technologies

In other news, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was acquired at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the completion of the purchase, the insider directly owned 10,232,420 shares of the company's stock, valued at approximately $228,489,938.60. This represents a 77.82% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Nina Richardson sold 2,790 shares of Resideo Technologies stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $23.68, for a total transaction of $66,067.20. Following the transaction, the director owned 64,008 shares of the company's stock, valued at $1,515,709.44. This represents a 4.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 5,724,042 shares of company stock valued at $135,201,451 and have sold 132,688 shares valued at $3,976,654. Corporate insiders own 1.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on REZI. Morgan Stanley raised shares of Resideo Technologies from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $24.00 to $35.00 in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Finally, Oppenheimer raised Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th.

Resideo Technologies Trading Down 2.9%

Shares of REZI stock traded down $0.95 during trading hours on Thursday, hitting $31.88. 2,125,804 shares of the company's stock traded hands, compared to its average volume of 1,176,645. The stock's 50 day simple moving average is $23.93 and its 200 day simple moving average is $20.64. The stock has a market cap of $4.74 billion, a PE ratio of -5.84 and a beta of 2.16. Resideo Technologies, Inc. has a 12 month low of $14.18 and a 12 month high of $33.03. The company has a quick ratio of 0.63, a current ratio of 1.00 and a debt-to-equity ratio of 0.93.

Resideo Technologies (NYSE:REZI - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.12. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.83 billion. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. The company's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. On average, sell-side 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.