Swedbank AB Acquires 1,287,162 Shares of Resideo Technologies, Inc. $REZI

Key Points

• Swedbank AB increased its stake in Resideo by 121.5% in Q4, buying 1,287,162 shares to hold 2,346,919 shares (about 1.57% of the company) valued at roughly $82,424,000.
• Analyst sentiment is mixed: Morgan Stanley raised its target to $50 (overweight) and Oppenheimer remains positive, while Weiss Ratings issued a sell, leaving MarketBeat's consensus at a Hold with an average target of $39.67.
• Resideo stock opened at $41.13, has a market cap of $6.23 billion, a negative PE (-10.21), and a 52‑week range of $18.88–$45.29.

Swedbank AB grew its holdings in Resideo Technologies, Inc. (NYSE:REZI - Free Report) by 121.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,346,919 shares of the company's stock after buying an additional 1,287,162 shares during the period. Swedbank AB owned 1.57% of Resideo Technologies worth $82,424,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its position in Resideo Technologies by 283.8% during the third quarter. Larson Financial Group LLC now owns 568 shares of the company's stock worth $25,000 after purchasing an additional 420 shares during the period. ORG Partners LLC raised its position in shares of Resideo Technologies by 588.2% in the third quarter. ORG Partners LLC now owns 585 shares of the company's stock valued at $25,000 after purchasing an additional 500 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Resideo Technologies by 1,778.8% in the third quarter. Cullen Frost Bankers Inc. now owns 620 shares of the company's stock valued at $27,000 after purchasing an additional 587 shares during the period. Sound Income Strategies LLC acquired a new stake in shares of Resideo Technologies during the 4th quarter worth about $25,000. Finally, Danske Bank A S raised its holdings in 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 during the period. 91.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

REZI has been the topic of several research reports. Morgan Stanley upped their target price on Resideo Technologies from $42.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a "sell (d+)" rating on shares of Resideo Technologies in a research report on Tuesday, April 21st. Finally, Oppenheimer restated an "outperform" rating on shares of Resideo Technologies in a research note on Friday, March 13th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Resideo Technologies presently has an average rating of "Hold" and an average target price of $39.67.

Resideo Technologies Price Performance

Resideo Technologies stock opened at $41.13 on Thursday. The firm has a market cap of $6.23 billion, a PE ratio of -10.21 and a beta of 1.75. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.91 and a quick ratio of 1.14. The stock's fifty day moving average price is $36.95 and its two-hundred day moving average price is $36.26. Resideo Technologies, Inc. has a one year low of $18.88 and a one year high of $45.29.

About Resideo Technologies

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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