Insider Buying: Resideo Technologies (NYSE:REZI) SVP Purchases 15,317 Shares of Stock

Resideo Technologies, Inc. (NYSE:REZIGet Free Report) SVP Joshua Peter Foster acquired 15,317 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $20.58 per share, with a total value of $315,223.86. Following the completion of the acquisition, the senior vice president directly owned 183,509 shares in the company, valued at $3,776,615.22. The trade was a 9.11% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Resideo Technologies Trading Up 4.7%

Resideo Technologies stock traded up $0.96 during trading hours on Monday, reaching $21.46. The company had a trading volume of 1,257,688 shares, compared to its average volume of 1,500,948. Resideo Technologies, Inc. has a 12-month low of $20.10 and a 12-month high of $45.29. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 9.51 and a beta of 1.63. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.22 and a quick ratio of 1.41. The company has a 50-day moving average price of $31.39 and a 200 day moving average price of $33.91.

Resideo Technologies (NYSE:REZIGet Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating 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 return on equity of 17.79% and a net margin of 5.37%.The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. Equities analysts forecast that Resideo Technologies, Inc. will post 2.81 earnings per share for the current year.

Hedge Funds Weigh In On Resideo Technologies

Hedge funds have recently bought and sold shares of the company. Danske Bank A S grew its holdings in Resideo Technologies by 600.0% in the fourth quarter. Danske Bank A S now owns 700 shares of the company’s stock valued at $25,000 after purchasing an additional 600 shares during the period. Larson Financial Group LLC boosted its position in 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 buying an additional 420 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Resideo Technologies during the second quarter valued at about $28,000. McMillan Office Inc. purchased a new stake in shares of Resideo Technologies during the fourth quarter worth about $33,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Resideo Technologies in the fourth quarter worth about $34,000. 91.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley reduced their price target 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. Seaport Research Partners initiated coverage on shares of Resideo Technologies in a research report on Wednesday, July 1st. They issued a “buy” rating and a $55.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Resideo Technologies in a research report on Friday, July 17th. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a report on Thursday. 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, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $41.00.

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About Resideo Technologies

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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.

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