Resideo Technologies, Inc. $REZI Shares Acquired by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its ownership in Resideo Technologies, Inc. by 124.5%, acquiring 197,838 shares, bringing its total to 356,722 shares valued at approximately $6.314 million.
• Analysts have upgraded Resideo Technologies' stock ratings, with Oppenheimer raising it to "outperform" and Morgan Stanley increasing the target price from $24.00 to $35.00.
• Insider trading activity included significant acquisitions, with Channel Holdings purchasing over 12,000 shares, while Director Nina Richardson sold approximately 3,333 shares of the company.

Panagora Asset Management Inc. increased its position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 124.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 356,722 shares of the company's stock after buying an additional 197,838 shares during the quarter. Panagora Asset Management Inc. owned about 0.24% of Resideo Technologies worth $6,314,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased 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 purchasing an additional 933 shares during the last quarter. Stifel Financial Corp acquired a new position in shares of Resideo Technologies in the fourth quarter worth $226,000. Price T Rowe Associates Inc. MD grew its stake in shares of Resideo Technologies by 10.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 107,305 shares of the company's stock worth $2,474,000 after acquiring an additional 10,335 shares in the last quarter. Quarry LP acquired a new position in shares of Resideo Technologies in the fourth quarter worth $28,000. Finally, Northern Trust Corp grew its stake in shares of Resideo Technologies by 14.3% in the fourth quarter. Northern Trust Corp now owns 1,917,077 shares of the company's stock worth $44,189,000 after acquiring an additional 239,967 shares in the last quarter. Hedge funds and other institutional investors own 91.71% of the company's stock.

Resideo Technologies Stock Performance

Shares of Resideo Technologies stock traded up $1.31 on Thursday, reaching $35.14. 1,192,006 shares of the stock were exchanged, compared to its average volume of 1,226,041. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $35.16. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The business has a fifty day moving average price of $27.55 and a two-hundred day moving average price of $21.79. The firm has a market capitalization of $5.23 billion, a PE ratio of -6.43 and a beta of 2.24.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its quarterly 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 negative net margin of 10.52% and a positive return on equity of 12.55%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the business posted $0.62 earnings per share. The business's 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. As a group, research analysts anticipate that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the stock in a transaction on Friday, July 25th. The shares were bought at an average cost of $22.33 per share, for a total transaction of $99,991,931.27. Following the completion of the transaction, the insider owned 10,232,420 shares of the company's stock, valued at $228,489,938.60. This represents a 77.82% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have bought 7,137,120 shares of company stock worth $180,372,607 and have sold 136,021 shares worth $4,091,809. Insiders own 1.50% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.