Insider Buying: Resideo Technologies (NYSE:REZI) CEO Buys $306,900.00 in Stock

Key Points

• CEO Thomas Surran bought 15,000 Resideo Technologies shares at an average price of $20.46, investing $306,900 and increasing his stake by 4.64% to 338,573 shares.
• Resideo reported quarterly EPS of $0.83, beating analyst expectations of $0.47, while revenue rose 2% year over year to $1.98 billion.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $41.00; institutional investors own 91.71% of the company.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) CEO Thomas Surran acquired 15,000 shares of Resideo Technologies stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $20.46 per share, with a total value of $306,900.00. Following the purchase, the chief executive officer owned 338,573 shares in the company, valued at $6,927,203.58. The trade was a 4.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Resideo Technologies Trading Up 0.1%

Shares of NYSE:REZI opened at $20.52 on Monday. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $3.12 billion, a PE ratio of 9.08 and a beta of 1.63. Resideo Technologies, Inc. has a 1 year low of $20.10 and a 1 year high of $45.29. The firm has a fifty day moving average price of $31.39 and a 200 day moving average price of $33.91.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, topping 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 analysts' expectations of $1.94 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. Analysts expect that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.

Analysts Set New Price Targets

REZI has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Resideo Technologies in a research note on Friday, July 17th. Zacks Research lowered Resideo Technologies from a "hold" rating to a "strong sell" rating in a report on Thursday, July 9th. Seaport Research Partners initiated coverage on Resideo Technologies in a report on Wednesday, July 1st. They set a "buy" rating and a $55.00 price target for the company. Morgan Stanley reduced their price objective on Resideo Technologies from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They issued a "neutral" rating and a $30.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $41.00.

Institutional Investors Weigh In On Resideo Technologies

Several institutional investors and hedge funds have recently made changes to their positions in REZI. Danske Bank A S increased its position in shares of Resideo Technologies by 600.0% during the 4th quarter. Danske Bank A S now owns 700 shares of the company's stock worth $25,000 after purchasing an additional 600 shares in the last quarter. Larson Financial Group LLC grew its stake 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 buying an additional 420 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Resideo Technologies during the second quarter worth approximately $28,000. McMillan Office Inc. acquired a new stake in shares of Resideo Technologies during the fourth quarter worth approximately $33,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Resideo Technologies in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 91.71% of the company's stock.

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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