Wells Fargo & Company MN Reduces Stock Position in Resideo Technologies, Inc. (NYSE:REZI)

Wells Fargo & Company MN lowered its position in Resideo Technologies, Inc. (NYSE:REZI) by 32.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,710 shares of the company’s stock after selling 63,770 shares during the period. Wells Fargo & Company MN owned approximately 0.09% of Resideo Technologies worth $3,105,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Resideo Technologies by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,007,980 shares of the company’s stock worth $20,301,000 after buying an additional 143,452 shares during the last quarter. Vanguard Group Inc. raised its position in Resideo Technologies by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 16,137,439 shares of the company’s stock worth $371,968,000 after acquiring an additional 75,940 shares during the last quarter. Barclays PLC lifted its holdings in shares of Resideo Technologies by 358.9% in the third quarter. Barclays PLC now owns 262,698 shares of the company’s stock valued at $5,290,000 after purchasing an additional 205,453 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Resideo Technologies in the fourth quarter valued at approximately $122,145,000. Finally, GAMMA Investing LLC increased its stake in shares of Resideo Technologies by 19.8% during the 4th quarter. GAMMA Investing LLC now owns 3,918 shares of the company’s stock worth $90,000 after purchasing an additional 647 shares in the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. downgraded Resideo Technologies from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $31.00 to $16.00 in a research report on Tuesday.

Resideo Technologies Stock Performance

Shares of REZI opened at $15.43 on Thursday. Resideo Technologies, Inc. has a 1 year low of $14.18 and a 1 year high of $28.28. The company’s 50 day simple moving average is $17.60 and its 200 day simple moving average is $21.36. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 24.49 and a beta of 2.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.82.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.08). The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Resideo Technologies had a return on equity of 11.12% and a net margin of 1.69%. On average, sell-side analysts predict that Resideo Technologies, Inc. will post 2.13 EPS for the current year.

Resideo Technologies Profile

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.