Ralliant Corporation (NYSE:RAL – Get Free Report) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $67.89 and traded as high as $72.83. Ralliant shares last traded at $71.3310, with a volume of 2,928,241 shares changing hands.
Analyst Ratings Changes
Several equities analysts recently weighed in on RAL shares. Zacks Research cut shares of Ralliant from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 30th. Oppenheimer upped their price target on shares of Ralliant from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. TD Cowen increased their price target on shares of Ralliant from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Seaport Research Partners raised shares of Ralliant from a “neutral” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Wednesday, October 14th. Finally, Royal Bank Of Canada decreased their price objective on shares of Ralliant from $73.00 to $72.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 14th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $77.40.
Read Our Latest Report on Ralliant
Ralliant Stock Up 7.6%
The company has a quick ratio of 1.00, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. The firm has a 50 day simple moving average of $67.89 and a 200-day simple moving average of $58.79. The stock has a market cap of $7.89 billion, a P/E ratio of -6.57, a price-to-earnings-growth ratio of 2.45 and a beta of 1.42.
Ralliant Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Tuesday, December 8th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, December 8th. Ralliant’s payout ratio is currently -1.84%.
Insider Buying and Selling
In other Ralliant news, CEO Tamara S. Newcombe sold 12,936 shares of Ralliant stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $70.58, for a total transaction of $913,022.88. Following the completion of the transaction, the chief executive officer directly owned 246,897 shares of the company’s stock, valued at $17,425,990.26. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karen M. Bick sold 6,062 shares of the company’s 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 completion of the transaction, the senior vice president owned 31,668 shares in the company, valued at approximately $2,280,096. This 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. Insiders have sold a total of 44,870 shares of company stock worth $3,122,883 over the last three months. 0.42% of the stock is owned by insiders.
Institutional Trading of Ralliant
A number of hedge funds have recently modified their holdings of RAL. BlackRock Inc. acquired a new position in Ralliant in the 2nd quarter valued at $1,039,481,000. Flossbach Von Storch SE bought a new position in Ralliant during the 2nd quarter worth $222,460,000. Irenic Capital Management LP increased its position in Ralliant by 424.1% during the 1st quarter. Irenic Capital Management LP now owns 1,740,218 shares of the company’s stock worth $72,376,000 after buying an additional 1,408,176 shares during the period. Rokos Capital Management LLP acquired a new stake in shares of Ralliant during the first quarter worth $42,022,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Ralliant during the second quarter worth $50,707,000.
Ralliant Company Profile
Ralliant Corporation (NYSE: RAL) is an industrial technology company that develops and supplies highly engineered products and solutions for customers with demanding measurement, monitoring, sensing and reliability requirements. Its offerings are designed to support the performance, safety and efficiency of industrial equipment and processes.
The company’s portfolio includes test and measurement instruments, sensing and monitoring technologies, power and electrical solutions, and products used to improve the reliability and maintenance of industrial assets.
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