Resideo Technologies, Inc. $REZI Stake Increased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Resideo Technologies by 4.9% in Q1, owning approximately 2,011,422 shares valued at about $35.6 million.
• Several other institutional investors, including Versor Investments and American Century Companies, also significantly boosted their stakes in Resideo Technologies during the same period, indicating strong institutional interest.
• Analysts have raised their price targets for Resideo Technologies, with Morgan Stanley increasing its target from $24.00 to $35.00, while the stock currently has an average target price of $28.00 and a consensus rating of "Moderate Buy."

Northern Trust Corp boosted its stake in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,011,422 shares of the company's stock after buying an additional 94,345 shares during the quarter. Northern Trust Corp owned 1.35% of Resideo Technologies worth $35,602,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Resideo Technologies during the 4th quarter worth approximately $28,000. IFP Advisors Inc boosted its position in Resideo Technologies by 20,133.3% during the first quarter. IFP Advisors Inc now owns 2,428 shares of the company's stock worth $43,000 after purchasing an additional 2,416 shares in the last quarter. Versant Capital Management Inc boosted its position in Resideo Technologies by 52.1% during the first quarter. Versant Capital Management Inc now owns 3,174 shares of the company's stock worth $56,000 after purchasing an additional 1,087 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Resideo Technologies by 1,261.2% in the first 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, Steph & Co. increased its position in shares of Resideo Technologies by 6.9% in the first quarter. Steph & Co. now owns 12,209 shares of the company's stock valued at $216,000 after buying an additional 787 shares in the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Resideo Technologies Trading Up 0.2%

REZI stock traded up $0.08 during midday trading on Wednesday, hitting $33.68. The stock had a trading volume of 784,755 shares, compared to its average volume of 1,220,989. Resideo Technologies, Inc. has a 12-month low of $14.18 and a 12-month high of $34.89. The firm has a market cap of $5.01 billion, a PE ratio of -6.17 and a beta of 2.24. The company's 50-day moving average price is $27.31 and its 200 day moving average price is $21.71. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.00 and a quick ratio of 0.63.

Resideo Technologies (NYSE:REZI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.12. The company 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 quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 EPS. Resideo Technologies has set its FY 2025 guidance at 2.750-2.870 EPS. Q3 2025 guidance at 0.700-0.760 EPS. On average, equities research analysts predict that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Insider Activity at Resideo Technologies

In related news, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was bought at an average price of $22.33 per share, with a total value of $99,991,931.27. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 7,107,660 shares of company stock valued at $179,370,672 and have sold 136,021 shares valued at $4,091,809. Corporate insiders own 1.50% of the company's stock.

Wall Street Analyst Weigh In

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

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.