Korea Investment CORP acquired a new stake in Resideo Technologies Inc (NYSE:REZI) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 23,816 shares of the company’s stock, valued at approximately $489,000.
Several other hedge funds have also made changes to their positions in REZI. BlackRock Inc. acquired a new position in shares of Resideo Technologies in the 4th quarter valued at $209,847,000. Investec Asset Management LTD acquired a new position in shares of Resideo Technologies in the 4th quarter valued at $60,825,000. Prudential Financial Inc. acquired a new position in shares of Resideo Technologies in the 4th quarter valued at $34,566,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Resideo Technologies in the 4th quarter valued at $31,603,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Resideo Technologies in the 4th quarter valued at $27,797,000. Institutional investors own 71.74% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Resideo Technologies from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a research note on Wednesday, December 26th. 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 price objective for the company. Bank of America restated a “buy” rating and issued a $24.00 price objective (down previously from $28.00) on shares of Resideo Technologies in a research note on Friday, March 8th. Oppenheimer set a $35.00 price objective on shares of Resideo Technologies and gave the company a “buy” rating in a research note on Wednesday, December 5th. Finally, ValuEngine upgraded shares of Resideo Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $25.00.
Resideo Technologies (NYSE:REZI) last announced its earnings results on Thursday, March 7th. The company reported $0.31 earnings per share (EPS) 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 firm’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Resideo Technologies Inc will post 2.18 earnings per share for the current year.
In other news, Director Roger Fradin bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was acquired at an average price of $20.41 per share, for a total transaction of $510,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have purchased a total of 25,438 shares of company stock valued at $521,149 in the last quarter.
Resideo Technologies Profile
Resideo Technologies, Inc provides critical residential comfort and security solutions in the United States, Europe, and internationally. It operates through two segments, Production and Distribution. The company offers comfort and care products, including temperature and humidity control, thermal, water, air, remote patient monitoring software, and software solutions; and security and safety products, such as security panels, sensors, peripherals, wires and cables, communication devices, video cameras, awareness solutions, cloud infrastructure, and installation and maintenance tools and software products.
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