Clarkston Capital Partners LLC acquired a new position 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 & Exchange Commission. The firm acquired 188,753 shares of the company’s stock, valued at approximately $9,153,000. Clarkston Capital Partners LLC owned about 0.17% of Ralliant at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RAL. ORG Partners LLC purchased a new stake in shares of Ralliant in the 2nd quarter worth $70,000. Nordea Investment Management AB purchased a new position in Ralliant during the second quarter valued at $29,477,000. Cullen Frost Bankers Inc. bought a new stake in Ralliant during the second quarter valued at about $144,000. iA Global Asset Management Inc. purchased a new stake in Ralliant in the second quarter worth about $285,000. Finally, Tandem Capital Management Corp ADV bought a new position in shares of Ralliant in the second quarter worth about $443,000.
Ralliant Price Performance
Shares of RAL opened at $48.85 on Friday. The stock has a market cap of $5.51 billion and a price-to-earnings ratio of 38.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.03 and a current ratio of 1.49. Ralliant Corporation has a 1 year low of $40.70 and a 1 year high of $55.08. The firm’s 50 day moving average is $44.52.
Ralliant Dividend Announcement
The business 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 dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 8th. Ralliant’s dividend payout ratio is 15.75%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Ralliant in a research report on Tuesday, September 2nd. They set an “overweight” rating and a $55.00 price objective on the stock. Royal Bank Of Canada raised their target price on shares of Ralliant from $45.00 to $52.00 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. Oppenheimer began coverage on shares of Ralliant in a research report on Wednesday, September 10th. They issued an “outperform” rating and a $55.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Ralliant in a research report on Wednesday. Finally, Barclays lowered their target price on shares of Ralliant from $60.00 to $59.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $55.75.
Get 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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