40,172 Shares of Resideo Technologies, Inc. $REZI Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC acquired a new position in shares of Resideo Technologies, Inc. (NYSE:REZI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 40,172 shares of the company’s stock, valued at approximately $809,000.

A number of other institutional investors also recently bought and sold shares of REZI. Ancora Advisors LLC acquired a new stake in Resideo Technologies during the second quarter worth $13,546,000. J. Goldman & Co LP purchased a new stake in Resideo Technologies in the second quarter valued at $17,983,000. Bank of America Corp DE purchased a new stake in Resideo Technologies in the second quarter valued at $32,325,000. Hsbc Holdings PLC raised its position in Resideo Technologies by 659.0% in the first quarter. Hsbc Holdings PLC now owns 50,832 shares of the company’s stock valued at $1,706,000 after purchasing an additional 44,135 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Resideo Technologies in the 1st quarter valued at $1,497,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

Resideo Technologies Stock Performance

Shares of REZI stock opened at $16.48 on Friday. The firm’s 50 day moving average price is $19.22 and its 200-day moving average price is $28.67. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. Resideo Technologies, Inc. has a one year low of $15.90 and a one year high of $45.29. The firm has a market cap of $2.50 billion, a P/E ratio of 7.29 and a beta of 1.54.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.36. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter last year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that Resideo Technologies, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

REZI has been the topic of several recent analyst reports. Seaport Research Partners began coverage on Resideo Technologies in a research note on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price target on the stock. Zacks Research raised Resideo Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 13th. Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Evercore began coverage on shares of Resideo Technologies in a report on Monday, September 28th. They issued an “outperform” rating and a $30.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Insider Buying and Selling at Resideo Technologies

In other news, SVP Joshua Foster purchased 15,317 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the purchase, the senior vice president directly owned 183,509 shares of the company’s stock, valued at approximately $3,776,615.22. This trade represents a 9.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Amit Mehta purchased 10,928 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were purchased at an average price of $20.68 per share, for a total transaction of $225,991.04. Following the completion of the purchase, the senior vice president directly owned 57,362 shares of the company’s stock, valued at $1,186,246.16. This represents a 23.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 41,245 shares of company stock valued at $848,115 over the last quarter. 1.60% of the stock is owned by company insiders.

About Resideo Technologies

Resideo Technologies, Inc is a global provider of products and services for residential and commercial comfort, security, safety and energy management. The company develops and distributes connected home technologies, including thermostats, indoor air-quality products, water-leak detection systems, security controls, sensors and related accessories.

Resideo also operates ADI Global Distribution, a distributor of security, automation and low-voltage products serving professional installers and integrators.