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SunTrust's Bob Peck On Smarthome Devices: Technology Can Better Automate, Improve Homes

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SunTrust Robinson Humphrey's Bob Peck on Monday commented in a note that smarthome devices are beginning to show the potential to interact with other technology devices that can better automate and improve the experience of a homeowner by saving money through smarter usage of devices and appliances.

Peck notes that several companies were present during the recent Consumer Electronics Show and showcased their devices.

Google Inc's (NASDAQ: GOOG) Nest Thermostat is now able to communication with Smart locks and can detect when doors have been opened and closed and can adjust the thermostat temperature accordingly. Nest can also detect if a user is sleeping or awake and can even interact with home security systems.

General Electric Company (NYSE: GE) announced a new suite of products at CES in which its appliances interact with a central app. Peck offers an example that an oven can be programmed remotely, a fridge can notify the user if left open while a dishwasher can notify the user if it is blocked or clogged.

Belkin's WeMo home automation line was demonstrated at CES with the introduction of a water sensor that detects usage time, duration and cost of various systems that use water in a household. Other devices includes a window and door sensor that alerts users if left open. Finally, the company's home safety products are considered by Peck to be more advanced than traditional security systems with an advanced motion sensor.

Latest Ratings for GE

DateFirmActionFromTo
Jan 2021Morgan StanleyMaintainsOverweight
Dec 2020DZ BankUpgradesSellHold
Dec 2020Morgan StanleyMaintainsOverweight

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Posted-In: Beklin Bob Peck CES Google Nest Home AutomationAnalyst Color Analyst Ratings Tech

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