Connor Clark & Lunn Investment Management Ltd. Purchases 133,855 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 344.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 172,744 shares of the company's stock after buying an additional 133,855 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of Resideo Technologies worth $3,058,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Resideo Technologies by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,982,342 shares of the company's stock worth $183,996,000 after purchasing an additional 88,273 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Resideo Technologies by 32.4% during the 4th quarter. Nuveen Asset Management LLC now owns 2,320,863 shares of the company's stock worth $53,496,000 after acquiring an additional 567,800 shares during the last quarter. Northern Trust Corp raised its position in shares of Resideo Technologies by 14.3% during the fourth quarter. Northern Trust Corp now owns 1,917,077 shares of the company's stock valued at $44,189,000 after buying an additional 239,967 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Resideo Technologies by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,653,693 shares of the company's stock valued at $29,270,000 after buying an additional 8,303 shares during the last quarter. Finally, Invesco Ltd. raised its position in Resideo Technologies by 22.6% in the fourth quarter. Invesco Ltd. now owns 988,890 shares of the company's stock worth $22,794,000 after purchasing an additional 182,197 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on REZI shares. Oppenheimer raised shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note on Wednesday, July 30th. Morgan Stanley upgraded 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 report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Resideo Technologies from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, June 3rd.

Resideo Technologies Stock Performance

Resideo Technologies stock traded down $0.52 during midday trading on Friday, hitting $31.39. The company's stock had a trading volume of 2,471,046 shares, compared to its average volume of 1,915,543. Resideo Technologies, Inc. has a 1-year low of $14.18 and a 1-year high of $33.03. 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 has a 50-day moving average price of $24.36 and a two-hundred day moving average price of $20.75. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -5.75 and a beta of 2.16.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced 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. Resideo Technologies had a negative net margin of 10.52% and a positive return on equity of 12.55%. The company 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 firm posted $0.62 EPS. The firm's revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current year.

Insider Activity

In other Resideo Technologies news, CEO Jay L. Geldmacher sold 47,500 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $31.29, for a total transaction of $1,486,275.00. Following the transaction, the chief executive officer owned 519,689 shares in the company, valued at approximately $16,261,068.81. This represents a 8.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Jeannine J. Lane sold 35,398 shares of the stock in a transaction dated Tuesday, August 12th. The shares were 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 owned 155,136 shares of the company's stock, valued at approximately $4,857,308.16. This represents a 18.58% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 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.

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.