Resideo Technologies, Inc. (NYSE:REZI) EVP Jeannine J. Lane Sells 35,398 Shares

Key Points

• Jeannine J. Lane, Executive Vice President of Resideo Technologies, sold 35,398 shares of the company at an average price of $31.31, representing an 18.58% decrease in her ownership.
• Resideo Technologies' stock is currently valued at $31.88, having recently reported $1.94 billion in quarterly revenue, exceeding analyst expectations.
• Analyst ratings have improved, with Morgan Stanley upgrading Resideo from "equal weight" to "overweight" and increasing the target price from $24.00 to $35.00.

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) EVP Jeannine J. Lane sold 35,398 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $31.31, for a total value of $1,108,311.38. Following the completion of the transaction, the executive vice president directly owned 155,136 shares of the company's stock, valued at approximately $4,857,308.16. This trade represents a 18.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Resideo Technologies Price Performance

NYSE:REZI traded down $0.52 during trading hours on Friday, hitting $31.39. 2,471,046 shares of the stock were exchanged, compared to its average volume of 1,915,543. Resideo Technologies, Inc. has a 52-week low of $14.18 and a 52-week high of $33.03. The firm's fifty day moving average price is $24.36 and its 200 day moving average price is $20.75. The company has a current ratio of 1.00, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The company has a market cap of $4.67 billion, a P/E ratio of -5.75 and a beta of 2.16.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its stake in Resideo Technologies by 26.5% during the fourth quarter. LPL Financial LLC now owns 35,851 shares of the company's stock worth $826,000 after purchasing an additional 7,514 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Resideo Technologies by 26.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 104,813 shares of the company's stock worth $2,416,000 after acquiring an additional 22,214 shares during the period. Bank of Montreal Can increased its position in shares of Resideo Technologies by 11.6% during the fourth quarter. Bank of Montreal Can now owns 17,205 shares of the company's stock worth $397,000 after acquiring an additional 1,788 shares during the period. Invesco Ltd. increased its position in shares of Resideo Technologies by 22.6% during the fourth quarter. Invesco Ltd. now owns 988,890 shares of the company's stock worth $22,794,000 after acquiring an additional 182,197 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Resideo Technologies during the fourth quarter worth $5,914,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. 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 research note on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price target on Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd. Finally, Oppenheimer upgraded Resideo Technologies from a "market perform" rating to an "outperform" rating in a research note 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.