Resideo Technologies (NYSE:REZI) CEO Thomas Surran Purchases 15,000 Shares

Resideo Technologies, Inc. (NYSE:REZI) CEO Thomas Surran bought 15,000 shares of Resideo Technologies stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $20.46 per share, with a total value of $306,900.00. Following the completion of the purchase, the chief executive officer directly owned 338,573 shares in the company, valued at $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Resideo Technologies Price Performance

NYSE REZI opened at $20.75 on Tuesday. The company has a 50-day moving average price of $31.21 and a two-hundred day moving average price of $33.82. Resideo Technologies, Inc. has a 52 week low of $20.10 and a 52 week high of $45.29. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 9.18 and a beta of 1.63. The company has a current ratio of 2.22, a quick ratio of 1.41 and a debt-to-equity ratio of 1.41.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.36. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Resideo Technologies had a return on equity of 17.79% and a net margin of 5.37%.The business’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 company posted $0.66 earnings per share. Analysts forecast that Resideo Technologies, Inc. will post 2.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on REZI. 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 price target for the company. Weiss Ratings raised Resideo Technologies from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday. JPMorgan Chase & Co. initiated coverage on shares of Resideo Technologies in a research note on Friday, August 7th. They set a “neutral” rating and a $30.00 price objective on the stock. Morgan Stanley decreased their target price on shares of Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, July 13th. Finally, Zacks Research cut shares of Resideo Technologies from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Resideo Technologies presently has an average rating of “Hold” and an average price target of $41.00.

Hedge Funds Weigh In On Resideo Technologies

Several large investors have recently made changes to their positions in the business. Danske Bank A S grew its stake in shares of 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 during the last quarter. Larson Financial Group LLC lifted its stake in Resideo Technologies by 283.8% during the third 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. Allworth Financial LP bought a new stake in Resideo Technologies during the second quarter worth approximately $28,000. McMillan Office Inc. bought a new stake in Resideo Technologies during the fourth quarter worth approximately $33,000. Finally, Kestra Advisory Services LLC bought a new stake in Resideo Technologies during the fourth quarter worth approximately $34,000. Institutional investors own 91.71% of the company’s stock.

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.