Resideo Technologies, Inc. (NYSE:REZI) Insider Robert B. Aarnes Sells 47,000 Shares

Key Points

• Robert B. Aarnes, an insider at Resideo Technologies, Inc. (NYSE:REZI), sold 47,000 shares for $1.316 million on July 30th, reducing his ownership by 8.53% to 503,692 shares.
• The company's shares traded down to $25.43, with a 52-week range between $14.18 and $29.40, and a current market cap of $3.78 billion.
• JPMorgan Chase & Co. has set a new price target of $21.00 for Resideo Technologies, while Oppenheimer upgraded its rating from "market perform" to "outperform".

Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) insider Robert B. Aarnes sold 47,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $28.00, for a total transaction of $1,316,000.00. Following the completion of the transaction, the insider directly owned 503,692 shares in the company, valued at $14,103,376. This trade represents a 8.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Resideo Technologies Stock Performance

Resideo Technologies stock traded down $1.87 during trading hours on Friday, reaching $25.43. 2,169,415 shares of the company were exchanged, compared to its average volume of 1,209,716. Resideo Technologies, Inc. has a 12 month low of $14.18 and a 12 month high of $29.40. The company has a current ratio of 1.94, a quick ratio of 1.16 and a debt-to-equity ratio of 0.69. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 79.47 and a beta of 2.16. The stock has a 50-day moving average of $22.71 and a 200 day moving average of $20.34.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Resideo Technologies by 10.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 134,073 shares of the company's stock valued at $2,958,000 after purchasing an additional 12,490 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of Resideo Technologies by 20.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 41,206 shares of the company's stock valued at $909,000 after acquiring an additional 7,116 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Resideo Technologies during the 2nd quarter worth $613,000. Tweedy Browne Co LLC acquired a new position in Resideo Technologies in the 2nd quarter worth about $429,000. Finally, Clayton Dubilier & Rice LLC acquired a new stake in shares of Resideo Technologies in the second quarter valued at about $127,290,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Oppenheimer upgraded shares of Resideo Technologies from a "market perform" rating to an "outperform" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Resideo Technologies from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, June 3rd.

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.