Hsbc Holdings PLC purchased a new position in Resideo Technologies Inc (NYSE:REZI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,155 shares of the company’s stock, valued at approximately $1,092,000.
Other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC purchased a new stake in shares of Resideo Technologies in the fourth quarter worth about $611,000. Pflug Koory LLC purchased a new stake in shares of Resideo Technologies in the fourth quarter worth about $26,000. Manning & Napier Group LLC purchased a new stake in shares of Resideo Technologies in the fourth quarter worth about $303,000. State Treasurer State of Michigan purchased a new stake in shares of Resideo Technologies in the fourth quarter worth about $900,000. Finally, Patten Group Inc. purchased a new stake in shares of Resideo Technologies in the fourth quarter worth about $116,000. 72.86% of the stock is currently owned by hedge funds and other institutional investors.
In other Resideo Technologies news, Director Roger Fradin purchased 25,000 shares of Resideo Technologies stock in a transaction on Tuesday, March 12th. The shares were acquired at an average cost of $20.41 per share, for a total transaction of $510,250.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 25,938 shares of company stock worth $531,174 over the last quarter.
Resideo Technologies (NYSE:REZI) last announced its earnings results on Thursday, March 7th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.23). The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.25 billion. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities analysts anticipate that Resideo Technologies Inc will post 1.97 earnings per share for the current year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Resideo Technologies from a “buy” rating to a “sell” rating in a research note on Wednesday, March 13th. Imperial Capital assumed coverage on shares of Resideo Technologies in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $24.00 target price on the stock. ValuEngine raised shares of Resideo Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Bank of America reaffirmed a “buy” rating and issued a $24.00 target price (down from $28.00) on shares of Resideo Technologies in a research note on Friday, March 8th. Finally, Oppenheimer set a $30.00 target price on shares of Resideo Technologies and gave the company a “buy” rating in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $25.00.
About Resideo Technologies
Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.
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