Jupiter Topco LLC bought a new stake in Ralliant Corporation (NYSE:RAL – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 48,700 shares of the company’s stock, valued at approximately $3,588,000.
Several other hedge funds and other institutional investors have also made changes to their positions in RAL. Cetera Investment Advisers acquired a new stake in Ralliant in the 2nd quarter valued at $700,000. Russell Investments Group Ltd. acquired a new position in shares of Ralliant during the second quarter worth about $1,465,000. EverSource Wealth Advisors LLC acquired a new position in shares of Ralliant during the second quarter worth about $39,000. First Trust Advisors LP purchased a new stake in shares of Ralliant in the second quarter worth about $2,013,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Ralliant in the second quarter valued at about $326,000.
Ralliant Trading Down 1.1%
Shares of RAL opened at $61.06 on Wednesday. The company has a market capitalization of $6.76 billion, a P/E ratio of -5.63, a P/E/G ratio of 2.29 and a beta of 1.54. Ralliant Corporation has a one year low of $37.27 and a one year high of $75.41. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.00 and a current ratio of 1.52. The stock has a 50-day moving average price of $68.12 and a 200 day moving average price of $56.79.
Ralliant Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 8th. Ralliant’s payout ratio is -1.84%.
Insiders Place Their Bets
In related news, CEO Tamara S. Newcombe sold 12,936 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $71.79, for a total value of $928,675.44. Following the sale, the chief executive officer directly owned 251,967 shares of the company’s stock, valued at $18,088,710.93. This represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karen M. Bick sold 6,062 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $72.00, for a total transaction of $436,464.00. Following the transaction, the senior vice president owned 31,668 shares in the company, valued at $2,280,096. This trade represents a 16.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.42% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on RAL shares. Morgan Stanley raised their target price on Ralliant from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, June 23rd. Barclays upped their price target on Ralliant from $52.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. BMO Capital Markets assumed coverage on shares of Ralliant in a research note on Monday, July 20th. They set a “market perform” rating and a $78.00 price objective on the stock. Royal Bank Of Canada boosted their target price on shares of Ralliant from $71.00 to $73.00 and gave the stock a “sector perform” rating in a research report on Friday, July 31st. Finally, Truist Financial reissued a “buy” rating and set a $82.00 target price (up from $68.00) on shares of Ralliant in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Ralliant has an average rating of “Moderate Buy” and an average target price of $75.70.
Get Our Latest Report on Ralliant
Ralliant Profile
Ralliant, Inc (NYSE: RAL) is a medical technology company focused on enabling point-of-care cell therapy solutions in the field of regenerative medicine. The company develops and markets systems that isolate, concentrate and store adipose-derived stromal vascular fraction (SVF) cells directly from a patient’s own fat tissue, facilitating same-day, autologous treatments without the need for extensive laboratory infrastructure.
The company’s core product portfolio includes proprietary device platforms and single-use processing kits engineered to streamline the workflow for clinicians.
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