Resideo Technologies, Inc. (NYSE:REZI) CEO Jay L. Geldmacher Sells 47,500 Shares

Key Points

• CEO Jay L. Geldmacher sold 47,500 shares of Resideo Technologies stock for a total of $1,486,275, reducing his ownership by 8.37% and retaining about 519,689 shares valued at approximately $16.26 million.
• Resideo Technologies reported quarterly earnings of $0.66 EPS, exceeding analysts' expectations of $0.54, and showed a 22.3% increase in revenue year-over-year, totaling $1.94 billion.
• Analyst ratings are mixed, with JPMorgan increasing the target price to $21.00 while Morgan Stanley upgraded from "equal weight" to "overweight" with a new target of $35.00.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) CEO Jay L. Geldmacher sold 47,500 shares of Resideo Technologies stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $31.29, for a total value of $1,486,275.00. Following the sale, the chief executive officer directly owned 519,689 shares of the company's stock, valued at approximately $16,261,068.81. This trade represents a 8.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Resideo Technologies Stock Down 2.9%

Shares of NYSE:REZI traded down $0.95 on Thursday, reaching $31.88. The company had a trading volume of 2,125,704 shares, compared to its average volume of 1,176,645. Resideo Technologies, Inc. has a 52-week low of $14.18 and a 52-week high of $33.03. The firm's 50 day simple moving average is $23.93 and its 200-day simple moving average is $20.64. The firm has a market capitalization of $4.74 billion, a PE ratio of -5.84 and a beta of 2.16. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93.

Resideo Technologies (NYSE:REZI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.12. Resideo Technologies had a positive return on equity of 12.55% and a negative net margin of 10.52%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $0.62 EPS. The business's revenue was up 22.3% compared to the same quarter last year. As a group, analysts expect that Resideo Technologies, Inc. will post 2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Amalgamated Bank increased its position in Resideo Technologies by 1.0% during the 2nd quarter. Amalgamated Bank now owns 42,164 shares of the company's stock valued at $930,000 after buying an additional 415 shares in the last quarter. QRG Capital Management Inc. increased its position in Resideo Technologies by 4.3% during the 2nd quarter. QRG Capital Management Inc. now owns 10,565 shares of the company's stock valued at $233,000 after buying an additional 437 shares in the last quarter. Hsbc Holdings PLC increased its position in Resideo Technologies by 2.5% during the 1st quarter. Hsbc Holdings PLC now owns 23,372 shares of the company's stock valued at $412,000 after buying an additional 578 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Resideo Technologies by 0.4% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 162,259 shares of the company's stock valued at $3,579,000 after buying an additional 625 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its position in Resideo Technologies by 4.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 15,280 shares of the company's stock valued at $352,000 after buying an additional 663 shares in the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, June 3rd. Morgan Stanley upgraded Resideo Technologies from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $24.00 to $35.00 in a report on Tuesday. Finally, Oppenheimer upgraded Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday, July 30th.

About Resideo Technologies

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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