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Royce & Associates LP Purchases 62,332 Shares of Resideo Technologies, Inc. (NYSE:REZI)

Resideo Technologies logo with Industrials background

Key Points

  • Royce & Associates LP increased its stake in Resideo Technologies by 10.2% during the first quarter, now owning approximately 671,245 shares valued at around $11.88 million.
  • Other institutional investors, such as Norges Bank and Federated Hermes Inc., also expanded their investments in Resideo Technologies, highlighting strong institutional interest with a collective ownership of 91.71%.
  • JPMorgan Chase & Co. raised its price target for Resideo Technologies from $20 to $21, maintaining a "neutral" rating on the stock.
  • Five stocks we like better than Resideo Technologies.
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Royce & Associates LP raised its position in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 10.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 671,245 shares of the company's stock after purchasing an additional 62,332 shares during the quarter. Royce & Associates LP owned about 0.45% of Resideo Technologies worth $11,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Resideo Technologies by 2.6% in the first quarter. Principal Financial Group Inc. now owns 794,943 shares of the company's stock valued at $14,070,000 after purchasing an additional 20,301 shares during the period. Vanguard Group Inc. increased its stake in shares of Resideo Technologies by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 16,137,439 shares of the company's stock valued at $371,968,000 after purchasing an additional 75,940 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Resideo Technologies by 1,296.4% in the first quarter. GAMMA Investing LLC now owns 54,711 shares of the company's stock valued at $968,000 after acquiring an additional 50,793 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of 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 acquiring an additional 6,634 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Resideo Technologies by 705.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,755 shares of the company's stock valued at $110,000 after acquiring an additional 4,165 shares in the last quarter. Institutional investors and hedge funds own 91.71% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, 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 report on Tuesday, June 3rd.

Check Out Our Latest Research Report on Resideo Technologies

Insider Buying and Selling

In related news, major shareholder Channel Holdings Ii L.P. Cd&R bought 4,477,919 shares of the business's stock in a transaction on Friday, July 25th. The stock was bought at an average price of $22.33 per share, for a total transaction of $99,991,931.27. Following the transaction, the insider directly owned 10,232,420 shares in the company, valued at $228,489,938.60. This represents a 77.82% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nina Richardson sold 2,790 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $23.68, for a total transaction of $66,067.20. Following the transaction, the director owned 64,008 shares in the company, valued at $1,515,709.44. This represents a 4.18% 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 Trading Down 1.5%

Resideo Technologies stock traded down $0.38 during midday trading on Tuesday, reaching $24.47. The stock had a trading volume of 212,825 shares, compared to its average volume of 1,051,167. The firm's fifty day simple moving average is $22.22 and its two-hundred day simple moving average is $20.21. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $28.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.94 and a quick ratio of 1.16. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 76.46 and a beta of 2.15.

Resideo Technologies Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Resideo Technologies (NYSE:REZI)

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