Key Points
- Director Nina Richardson sold 2,789 shares on August 12 at an average price of $29.67 under a pre-arranged Rule 10b5-1 plan, a $82,749.63 transaction that cut her holdings by 4.6% to 57,886 shares.
- Analysts are mixed on Resideo with a consensus “Hold” rating and an average price target of $39.67, though Morgan Stanley recently raised its target to $50 and maintained an overweight rating.
- Institutional investors own about 91.71% of the stock, and several large funds (including Clayton Dubilier & Rice and Franklin Resources) substantially increased their stakes in recent quarters.
Resideo Technologies, Inc. (NYSE:REZI - Get Free Report) Director Nina Richardson sold 2,789 shares of Resideo Technologies stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $29.67, for a total transaction of $82,749.63. Following the transaction, the director owned 57,886 shares in the company, valued at approximately $1,717,477.62. This trade represents a 4.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Resideo Technologies Stock Down 0.4%
REZI opened at $37.67 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.14 and a current ratio of 1.91. Resideo Technologies, Inc. has a fifty-two week low of $14.82 and a fifty-two week high of $45.29. The firm's fifty day moving average is $35.58 and its 200 day moving average is $36.52. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of -9.35 and a beta of 1.70.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Weiss Ratings restated a "sell (d+)" rating on shares of Resideo Technologies in a research note on Thursday, January 22nd. Morgan Stanley lifted their target price on shares of Resideo Technologies from $42.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, February 25th. Finally, Oppenheimer restated an "outperform" rating on shares of Resideo Technologies in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $39.67.
Read Our Latest Stock Analysis on Resideo Technologies
Institutional Trading of Resideo Technologies
Several hedge funds have recently bought and sold shares of REZI. Clayton Dubilier & Rice LLC lifted its stake in Resideo Technologies by 130.3% in the 3rd quarter. Clayton Dubilier & Rice LLC now owns 13,286,384 shares of the company's stock worth $573,706,000 after purchasing an additional 7,516,233 shares in the last quarter. Franklin Resources Inc. lifted its stake in Resideo Technologies by 1,325.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,888,665 shares of the company's stock worth $81,553,000 after purchasing an additional 1,756,131 shares in the last quarter. Sachem Head Capital Management LP purchased a new stake in Resideo Technologies in the 4th quarter worth $57,070,000. Norges Bank purchased a new stake in Resideo Technologies in the 4th quarter worth $56,059,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Resideo Technologies by 365.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,966,157 shares of the company's stock worth $84,899,000 after purchasing an additional 1,543,952 shares in the last quarter. Hedge funds and other institutional investors own 91.71% of the company's stock.
About Resideo Technologies
(
Get Free Report)
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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