Norges Bank purchased a new position in shares of Ralliant Corporation (NYSE:RAL – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,449,160 shares of the company’s stock, valued at approximately $124,687,000. Norges Bank owned 2.17% of Ralliant at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the company. Danske Bank A S purchased a new stake in Ralliant in the 4th quarter worth about $25,000. V Square Quantitative Management LLC purchased a new position in shares of Ralliant during the fourth quarter valued at approximately $26,000. Allworth Financial LP grew its stake in shares of Ralliant by 134.4% during the fourth quarter. Allworth Financial LP now owns 511 shares of the company’s stock valued at $26,000 after buying an additional 293 shares during the last quarter. Palisade Asset Management LLC bought a new position in shares of Ralliant during the third quarter valued at approximately $26,000. Finally, UMB Bank n.a. purchased a new stake in shares of Ralliant in the third quarter worth approximately $29,000.
Ralliant Stock Down 0.7%
Shares of NYSE RAL opened at $62.25 on Friday. Ralliant Corporation has a 52-week low of $37.27 and a 52-week high of $63.31. The firm has a market capitalization of $6.97 billion and a price-to-earnings ratio of -5.69. The stock has a 50 day moving average price of $50.40 and a 200 day moving average price of $49.12. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.05 and a current ratio of 1.61.
Ralliant Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 8th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, June 8th. Ralliant’s payout ratio is presently -1.83%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the company. Morgan Stanley raised their price target on Ralliant from $45.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Vertical Research lowered Ralliant from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a research note on Wednesday, May 27th. Zacks Research upgraded Ralliant from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Ralliant in a research note on Monday, May 4th. Finally, Royal Bank Of Canada upped their price target on shares of Ralliant from $47.00 to $64.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $64.50.
Read Our Latest Analysis on RAL
Ralliant Company 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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