Resideo Technologies, Inc. (NYSE:REZI) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Resideo Technologies, Inc. (NYSE:REZI) by 6.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,037,120 shares of the company’s stock after selling 74,255 shares during the period. Bank of New York Mellon Corp’s holdings in Resideo Technologies were worth $18,357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in Resideo Technologies during the fourth quarter valued at about $5,914,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Resideo Technologies by 15.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,269 shares of the company’s stock valued at $836,000 after acquiring an additional 4,754 shares in the last quarter. HighTower Advisors LLC bought a new position in Resideo Technologies during the fourth quarter valued at approximately $245,000. Swiss National Bank raised its position in Resideo Technologies by 0.7% during the fourth quarter. Swiss National Bank now owns 287,900 shares of the company’s stock valued at $6,636,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Resideo Technologies by 25.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 16,331 shares of the company’s stock valued at $376,000 after acquiring an additional 3,282 shares in the last quarter. Institutional investors own 91.71% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Channel Holdings Ii L.P. Cd&R bought 5,754,501 shares of the company’s stock in a transaction that occurred on Friday, May 9th. The shares were acquired at an average price of $17.38 per share, with a total value of $100,013,227.38. Following the completion of the transaction, the insider owned 5,754,501 shares of the company’s stock, valued at $100,013,227.38. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nina Richardson sold 2,790 shares of the business’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $23.68, for a total transaction of $66,067.20. Following the transaction, the director directly owned 64,008 shares in the company, valued at $1,515,709.44. This trade represents a 4.18% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Resideo Technologies Price Performance

Shares of NYSE:REZI opened at $24.15 on Friday. Resideo Technologies, Inc. has a twelve month low of $14.18 and a twelve month high of $28.28. The business has a 50 day moving average price of $21.83 and a 200 day moving average price of $20.17. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 75.47 and a beta of 2.15. The company has a quick ratio of 1.16, a current ratio of 1.94 and a debt-to-equity ratio of 0.69.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their price objective on shares of Resideo Technologies from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, June 3rd.

Resideo Technologies Profile

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.