Fifth Third Bancorp Grows Stake in Resideo Technologies, Inc. $REZI

Fifth Third Bancorp grew its stake in shares of Resideo Technologies, Inc. (NYSE:REZI) by 5,887.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,726 shares of the company’s stock after buying an additional 83,311 shares during the period. Fifth Third Bancorp owned 0.06% of Resideo Technologies worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Sound Income Strategies LLC bought a new stake in Resideo Technologies in the 4th quarter valued at $25,000. Danske Bank A S lifted its stake in Resideo Technologies by 600.0% in the 4th quarter. Danske Bank A S now owns 700 shares of the company’s stock worth $25,000 after purchasing an additional 600 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock valued at $25,000 after purchasing an additional 420 shares during the last quarter. McMillan Office Inc. bought a new position in shares of Resideo Technologies during the 4th quarter valued at about $33,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Resideo Technologies during the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Resideo Technologies Trading Down 0.6%

Shares of REZI stock opened at $35.61 on Tuesday. The company has a market cap of $5.39 billion, a PE ratio of -9.27 and a beta of 1.64. Resideo Technologies, Inc. has a 1 year low of $23.91 and a 1 year high of $45.29. The stock’s 50 day simple moving average is $31.44 and its two-hundred day simple moving average is $34.79. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.07 and a quick ratio of 1.19.

Resideo Technologies (NYSE:REZI) last released its earnings results on Tuesday, May 12th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. Resideo Technologies had a positive return on equity of 16.70% and a negative net margin of 6.71%.The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Resideo Technologies has set its FY 2026 guidance at 3.000-3.200 EPS and its Q2 2026 guidance at 0.710-0.750 EPS. Research analysts predict that Resideo Technologies, Inc. will post 2.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

REZI has been the topic of several research reports. Morgan Stanley reduced their target price on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Resideo Technologies in a report on Tuesday, April 21st. Seaport Research Partners initiated coverage on Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 target price for the company. Finally, Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.50.

Resideo Technologies Profile

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.