Parkwood LLC acquired a new position in Ralliant Corporation (NYSE:RAL – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,774 shares of the company’s stock, valued at approximately $2,074,000.
Several other hedge funds have also added to or reduced their stakes in RAL. ORG Partners LLC purchased a new position in Ralliant during the 2nd quarter valued at about $70,000. Nordea Investment Management AB bought a new stake in shares of Ralliant in the 2nd quarter worth approximately $29,477,000. Cullen Frost Bankers Inc. purchased a new position in shares of Ralliant during the second quarter valued at approximately $144,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Ralliant during the second quarter valued at approximately $1,410,000. Finally, Boston Partners purchased a new stake in Ralliant in the second quarter worth $63,656,000.
Ralliant Stock Performance
Shares of RAL stock opened at $52.21 on Friday. The business has a fifty day simple moving average of $45.89. Ralliant Corporation has a 52-week low of $40.70 and a 52-week high of $55.08. The stock has a market cap of $5.89 billion and a price-to-earnings ratio of 41.11. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.49 and a quick ratio of 1.03.
Ralliant Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 8th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, December 8th. Ralliant’s payout ratio is currently 15.75%.
Wall Street Analyst Weigh In
RAL has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Ralliant from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Royal Bank Of Canada boosted 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. Morgan Stanley started coverage on shares of Ralliant in a research note on Tuesday, September 2nd. They issued an “overweight” rating and a $55.00 price target for the company. Citigroup raised Ralliant from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $61.00 in a research report on Monday. Finally, Oppenheimer assumed coverage on Ralliant in a research report on Wednesday, September 10th. They issued an “outperform” rating and a $55.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.75.
View Our Latest Stock 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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