Resideo Technologies (NYSE:REZI) Cut to Neutral at JPMorgan Chase & Co.

Resideo Technologies (NYSE:REZI - Get Free Report) was downgraded by equities researchers at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a note issued to investors on Tuesday,Finviz reports. They currently have a $16.00 price target on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 1.91% from the company's previous close.

Resideo Technologies Trading Down 0.4 %

Shares of Resideo Technologies stock opened at $15.70 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.10 and a current ratio of 1.82. The company has a fifty day moving average of $17.87 and a 200 day moving average of $21.45. The company has a market capitalization of $2.32 billion, a P/E ratio of 24.92 and a beta of 2.04. Resideo Technologies has a fifty-two week low of $14.18 and a fifty-two week high of $28.28.

Resideo Technologies (NYSE:REZI - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.08). Resideo Technologies had a net margin of 1.69% and a return on equity of 11.12%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.84 billion. On average, sell-side analysts anticipate that Resideo Technologies will post 2.13 earnings per share for the current fiscal year.

Institutional Trading of Resideo Technologies

Several hedge funds have recently modified their holdings of the company. Barclays PLC raised its stake in Resideo Technologies by 358.9% during the third quarter. Barclays PLC now owns 262,698 shares of the company's stock valued at $5,290,000 after purchasing an additional 205,453 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Resideo Technologies by 45.3% in the 3rd quarter. Franklin Resources Inc. now owns 171,792 shares of the company's stock valued at $3,592,000 after acquiring an additional 53,541 shares during the last quarter. Principal Financial Group Inc. grew its position in Resideo Technologies by 3.1% in the third quarter. Principal Financial Group Inc. now owns 742,628 shares of the company's stock worth $14,957,000 after acquiring an additional 22,353 shares in the last quarter. JPMorgan Chase & Co. raised its position in Resideo Technologies by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 1,007,980 shares of the company's stock valued at $20,301,000 after purchasing an additional 143,452 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Resideo Technologies by 19.8% in the 4th quarter. GAMMA Investing LLC now owns 3,918 shares of the company's stock valued at $90,000 after purchasing an additional 647 shares during the last quarter. 91.71% of the stock is owned by hedge funds and other institutional investors.

About Resideo Technologies

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.

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