Federated Hermes Inc. Sells 191,388 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Key Points

• Federated Hermes Inc. reduced its stake in Resideo Technologies by 12.4%, owning 1,350,553 shares valued at approximately $23.9 million at the end of the first quarter.
• Institutional investors hold a substantial 91.71% ownership of Resideo Technologies, with several funds significantly increasing their positions recently.
• Wall Street analysts have shown confidence in Resideo Technologies, with Oppenheimer upgrading its rating to "outperform" and JPMorgan raising their price target from $20 to $21.

Federated Hermes Inc. trimmed its holdings in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 12.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,350,553 shares of the company's stock after selling 191,388 shares during the period. Federated Hermes Inc. owned approximately 0.91% of Resideo Technologies worth $23,905,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in REZI. Principal Financial Group Inc. raised its stake in Resideo Technologies by 2.6% during the first quarter. Principal Financial Group Inc. now owns 794,943 shares of the company's stock valued at $14,070,000 after buying an additional 20,301 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Resideo Technologies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 16,137,439 shares of the company's stock valued at $371,968,000 after acquiring an additional 75,940 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Resideo Technologies by 1,296.4% in the 1st quarter. GAMMA Investing LLC now owns 54,711 shares of the company's stock worth $968,000 after purchasing an additional 50,793 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Resideo Technologies by 1,261.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 7,160 shares of the company's stock valued at $127,000 after purchasing an additional 6,634 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in Resideo Technologies by 705.9% during 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. 91.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Oppenheimer upgraded shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday.

Insider Activity

In other news, Director Nina Richardson sold 2,790 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $23.68, for a total transaction of $66,067.20. Following the transaction, the director directly owned 64,008 shares of the company's stock, valued at $1,515,709.44. This represents a 4.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert B. Aarnes sold 47,000 shares of Resideo Technologies stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $28.00, for a total value of $1,316,000.00. Following the completion of the sale, the insider directly owned 503,692 shares of the company's stock, valued at $14,103,376. The trade was a 8.53% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate insiders.

Resideo Technologies Stock Down 6.8%

NYSE REZI traded down $1.87 during mid-day trading on Friday, reaching $25.43. The stock had a trading volume of 2,169,415 shares, compared to its average volume of 1,209,716. Resideo Technologies, Inc. has a 1 year low of $14.18 and a 1 year high of $29.40. The stock has a market cap of $3.78 billion, a PE ratio of 79.47 and a beta of 2.16. The company has a fifty day moving average price of $22.71 and a 200 day moving average price of $20.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.94 and a quick ratio of 1.16.

Resideo Technologies 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.