Deutsche Bank AG Invests $4.86 Million in Resideo Technologies, Inc. $REZI

Deutsche Bank AG acquired a new position in shares of Resideo Technologies, Inc. (NYSE:REZI) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 156,129 shares of the company’s stock, valued at approximately $4,856,000.

A number of other hedge funds have also recently bought and sold shares of REZI. Danske Bank A S lifted its stake in shares of Resideo Technologies by 600.0% during the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after acquiring an additional 600 shares during the period. Larson Financial Group LLC boosted its stake in shares of Resideo Technologies by 283.8% in 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 in the 4th quarter valued at about $33,000. Kestra Advisory Services LLC acquired a new stake in shares of Resideo Technologies during the 4th quarter worth approximately $34,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Resideo Technologies during the 2nd quarter worth approximately $34,000. 91.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

REZI has been the topic of several analyst reports. Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a report on Thursday, July 9th. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They set a “buy” rating and a $55.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Resideo Technologies in a research note on Friday, August 7th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Morgan Stanley reduced their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $41.00.

Insider Buying and Selling

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

Resideo Technologies Stock Up 3.3%

Shares of NYSE REZI opened at $19.91 on Wednesday. Resideo Technologies, Inc. has a 52-week low of $18.96 and a 52-week high of $45.29. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The stock has a market cap of $3.02 billion, a P/E ratio of 8.81 and a beta of 1.63. The firm has a 50 day moving average price of $29.90 and a 200 day moving average price of $33.21.

Resideo Technologies (NYSE:REZI) last posted its earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.36. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.94 billion. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.66 earnings per share. Analysts expect that Resideo Technologies, Inc. will post 2.81 EPS for the current year.

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.