State Street Corp Amends Resideo Tech Stake, Remains Passive Investor
Ticker: REZI · Form: SC 13G/A · Filed: Jan 25, 2024 · CIK: 1740332
| Field | Detail |
|---|---|
| Company | Resideo Technologies, INC. (REZI) |
| Form Type | SC 13G/A |
| Filed Date | Jan 25, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amended-filing, passive-investment
TL;DR
**State Street still owns a chunk of Resideo, but they're just holding, not trying to run the show.**
AI Summary
State Street Corporation, a major financial institution, filed an amended SC 13G/A on January 25, 2024, disclosing its ownership of Resideo Technologies Inc. common stock as of December 31, 2023. This filing indicates that State Street Corporation holds a significant, though passive, stake in Resideo Technologies, Inc., a company specializing in wholesale hardware. This matters to investors because large institutional holdings can provide a degree of stability and confidence in the stock, as State Street is a sophisticated investor.
Why It Matters
This filing confirms State Street Corporation's continued significant, but passive, investment in Resideo Technologies, Inc., signaling institutional confidence without intent to influence management.
Risk Assessment
Risk Level: low — This filing is routine for large institutional investors and does not indicate any immediate negative or positive risk for the stock.
Analyst Insight
Investors should note that a large institutional holder like State Street Corporation is maintaining its position, which can be a sign of stability, but this filing alone doesn't suggest any immediate catalysts for price movement.
Key Numbers
- 76118Y104 — CUSIP Number (identifies Resideo Technologies Inc. common stock)
- 04-2456637 — IRS Identification Number (identifies State Street Corporation)
Key Players & Entities
- State Street Corporation (company) — the reporting person filing the SC 13G/A
- Resideo Technologies, Inc. (company) — the subject company whose common stock is being reported
- 0000093751-24-000196 (dollar_amount) — accession number for the filing
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- State Street Corporation will maintain a passive investment stance in Resideo Technologies Inc. for the foreseeable future. (State Street Corporation) — high confidence, target: 2025-12-31
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amended Schedule 13G filing under the Securities Exchange Act of 1934, as stated in the filing's header and body.
Who is the reporting person in this filing?
The reporting person is STATE STREET CORPORATION, as explicitly stated under 'NAME OF REPORTING PERSON' on page 2 of 5.
What is the subject company whose securities are being reported?
The subject company is RESIDEO TECHNOLOGIES INC, as indicated under 'NAME OF ISSUER' and 'SUBJECT COMPANY' in the filing.
What is the date of the event that required this filing?
The date of the event which requires filing of this statement is 12/31/2023, as specified in the filing.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13D-1 (B), as indicated by the 'X' next to 'RULE 13D-1 (B)' in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 25, 2024 regarding RESIDEO TECHNOLOGIES, INC. (REZI).