Resideo Technologies, Inc. Common Stock
REZIResideo Technologies, Inc. is a provider of home comfort and security solutions, offering smart thermostats, security systems, and connected home products. The company focuses on delivering innovative technology to enhance safety, comfort, and energy efficiency in residential environments. Formed in 2018 as a spinoff from Honeywell, Resideo caters to both consumers and professional installers through a broad portfolio of connected devices and services.
Company News
Permian Investment Partners initiated a new $41.7 million position in Resideo Technologies, a smart home solutions company, representing 4.7% of their portfolio. The stock has outperformed the S&P 500, rising 39% over the past year.
Resideo Technologies experienced a significant stock drop after reporting Q3 earnings that narrowly missed analyst expectations, with guidance for the year falling short of market predictions.
Honeywell's stock has been stuck in neutral, trading at a valuation similar to 2020 levels. The company plans to split into three independent companies, which could unlock the potential of its individual businesses and improve investor focus.
The IoT Breakthrough Awards program recognized the top companies and products driving innovation in the Internet-of-Things industry, including advancements in connected homes, industrial IoT, and smart city technologies.
ADT (ADT) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
