Resideo Technologies (NYSE:REZI) SVP Amit Ashvin Mehta Purchases 10,928 Shares of Stock

Resideo Technologies, Inc. (NYSE:REZI) SVP Amit Ashvin Mehta acquired 10,928 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was purchased at an average price of $20.68 per share, with a total value of $225,991.04. Following the transaction, the senior vice president owned 57,362 shares of the company’s stock, valued at approximately $1,186,246.16. This trade represents a 23.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Resideo Technologies Price Performance

NYSE:REZI opened at $21.05 on Wednesday. Resideo Technologies, Inc. has a 52 week low of $20.10 and a 52 week high of $45.29. The company has a quick ratio of 1.41, a current ratio of 2.22 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $3.20 billion, a PE ratio of 9.31 and a beta of 1.63. The stock’s 50-day moving average price is $31.01 and its 200-day moving average price is $33.74.

Resideo Technologies (NYSE:REZI) last announced 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 firm had revenue of $1.98 billion during 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%.Resideo Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. As a group, equities analysts expect that Resideo Technologies, Inc. will post 2.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Resideo Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Equitable Holdings Inc. acquired a new stake in shares of Resideo Technologies in the second quarter worth approximately $663,000. Corient Private Wealth LP acquired a new position in Resideo Technologies in the 2nd quarter valued at $823,000. Bank of America Corp DE purchased a new position in Resideo Technologies in the 2nd quarter valued at $32,325,000. Freestone Grove Partners LP purchased a new position in Resideo Technologies in the 2nd quarter valued at $977,000. Finally, Man Group plc purchased a new position in Resideo Technologies in the 2nd quarter valued at $4,042,000. Hedge funds and other institutional investors own 91.71% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on REZI shares. Oppenheimer reiterated an “outperform” rating on shares of Resideo Technologies in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday. Seaport Research Partners assumed coverage on shares of Resideo Technologies in a report on Wednesday, July 1st. They set a “buy” rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Resideo Technologies in a report on Friday, August 7th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Zacks Research lowered shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.00.

About Resideo Technologies

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.