Oak Thistle LLC purchased a new position in Ralliant Corporation (NYSE:RAL – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,429 shares of the company’s stock, valued at approximately $1,199,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dodge & Cox purchased a new position in shares of Ralliant during the 2nd quarter worth about $523,571,000. Viking Global Investors LP acquired a new position in Ralliant during the second quarter worth approximately $257,200,000. State Street Corp acquired a new position in shares of Ralliant in the 2nd quarter valued at $213,096,000. Flossbach Von Storch SE purchased a new stake in shares of Ralliant during the 2nd quarter valued at $198,077,000. Finally, Norges Bank acquired a new stake in shares of Ralliant during the 2nd quarter worth $108,453,000.
Ralliant Stock Performance
Ralliant stock opened at $50.85 on Friday. The firm has a market cap of $5.74 billion and a price-to-earnings ratio of 40.04. Ralliant Corporation has a one year low of $40.70 and a one year high of $55.08. The business’s 50 day moving average is $46.54. The company has a quick ratio of 1.03, a current ratio of 1.49 and a debt-to-equity ratio of 0.39.
Ralliant Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 8th will be issued a $0.05 dividend. The ex-dividend date is Monday, December 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. Ralliant’s payout ratio is currently 15.75%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Morgan Stanley initiated coverage on Ralliant in a report on Tuesday, September 2nd. They issued an “overweight” rating and a $55.00 target price on the stock. Truist Financial assumed coverage on Ralliant in a report on Friday, December 12th. They set a “buy” rating and a $62.00 target price for the company. Citigroup raised shares of Ralliant from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.00 to $61.00 in a research report on Monday, December 8th. Royal Bank Of Canada lifted their price target on shares of Ralliant from $45.00 to $52.00 and gave the company a “sector perform” rating in a research report on Friday, November 7th. Finally, Oppenheimer increased their price objective on shares of Ralliant from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Ralliant has an average rating of “Moderate Buy” and an average price target of $57.89.
Check Out Our Latest Research Report on Ralliant
About Ralliant
Ralliant Corporation is a provider of precision technologies which specializes in designing, developing, manufacturing and servicing precision instruments and engineered products. Ralliant Corporation is based in RALEIGH, N.C.
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