Resideo Technologies, Inc. $REZI Stake Boosted by Bank of America Corp DE

Key Points

• Bank of America increased its Resideo Technologies stake by 8.4% in the first quarter, adding 72,677 shares to hold 935,107 shares valued at approximately $31.5 million. Institutional investors collectively own 91.71% of the company.
• Analyst sentiment is mixed, with ratings ranging from buy to strong sell. Resideo has an average “Hold” rating and a consensus price target of $41, while recent targets range from $30 to $55.
• Resideo’s latest quarterly results exceeded expectations: earnings per share came in at $0.83 versus the $0.47 consensus, and revenue rose 2% year over year to $1.98 billion. However, the stock opened at $20.52, near its 52-week low of $20.10.

Bank of America Corp DE increased its position in shares of Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 935,107 shares of the company's stock after acquiring an additional 72,677 shares during the period. Bank of America Corp DE owned about 0.62% of Resideo Technologies worth $31,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of REZI. Larson Financial Group LLC lifted its stake in shares of Resideo Technologies by 283.8% in the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company's stock valued at $25,000 after purchasing an additional 420 shares during the last quarter. Danske Bank A S raised its stake in shares of Resideo Technologies by 600.0% in the 4th quarter. Danske Bank A S now owns 700 shares of the company's stock valued at $25,000 after acquiring an additional 600 shares in the last quarter. McMillan Office Inc. acquired a new stake in Resideo Technologies in the 4th quarter worth approximately $33,000. Headlands Technologies LLC acquired a new stake in Resideo Technologies in the 2nd quarter worth approximately $34,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Resideo Technologies during the 4th quarter worth $34,000. Institutional investors and hedge funds own 91.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on REZI shares. Zacks Research cut Resideo Technologies from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. started coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They set a "neutral" rating and a $30.00 price target for the company. Morgan Stanley decreased their price objective on Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Resideo Technologies in a research note on Friday, July 17th. Finally, Seaport Research Partners assumed coverage on Resideo Technologies in a research report on Wednesday, July 1st. They set a "buy" rating and a $55.00 target price for the company. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Resideo Technologies currently has an average rating of "Hold" and an average price target of $41.00.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $20.52 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.19 and a current ratio of 2.22. The firm has a market cap of $3.12 billion, a P/E ratio of 9.08 and a beta of 1.63. The business's fifty day moving average is $31.39 and its two-hundred day moving average is $33.92. Resideo Technologies, Inc. has a 52 week low of $20.10 and a 52 week high of $45.29.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.36. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the company posted $0.66 earnings per share. The firm's quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Resideo Technologies, Inc. will post 2.81 earnings per share for the current fiscal year.

Resideo Technologies Company Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.

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