Bank of America Corp DE Cuts Stake in Resideo Technologies, Inc. (NYSE:REZI)

Bank of America Corp DE cut its stake in Resideo Technologies, Inc. (NYSE:REZI) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,064,519 shares of the company’s stock after selling 130,049 shares during the period. Bank of America Corp DE owned approximately 0.72% of Resideo Technologies worth $24,537,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 purchasing an additional 75,940 shares during the period. Barclays PLC increased its holdings in shares of Resideo Technologies by 358.9% during the 3rd quarter. Barclays PLC now owns 262,698 shares of the company’s stock worth $5,290,000 after buying an additional 205,453 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Resideo Technologies in the 4th quarter worth $122,145,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Resideo Technologies by 13.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 29,248 shares of the company’s stock valued at $674,000 after acquiring an additional 3,398 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Resideo Technologies by 705.9% in the fourth quarter. Sterling Capital Management LLC now owns 4,755 shares of the company’s stock valued at $110,000 after acquiring an additional 4,165 shares during the last quarter. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Resideo Technologies

In other news, major shareholder Channel Holdings Ii L.P. Cd&R purchased 5,754,501 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average cost of $17.38 per share, with a total value of $100,013,227.38. Following the acquisition, the insider now owns 5,754,501 shares in the company, valued at approximately $100,013,227.38. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Resideo Technologies Trading Up 0.7%

Shares of REZI stock opened at $21.17 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.82 and a debt-to-equity ratio of 0.69. Resideo Technologies, Inc. has a fifty-two week low of $14.18 and a fifty-two week high of $28.28. The firm’s 50 day moving average price is $17.35 and its two-hundred day moving average price is $21.16. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 33.60 and a beta of 2.23.

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

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. downgraded Resideo Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $31.00 to $16.00 in a report on Tuesday, April 22nd.

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.