Ralliant (NYSE:RAL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Ralliant (NYSE:RAL) from a buy rating to a strong-buy rating in a research note released on Saturday morning,Wall Street Zen reports.

Other analysts also recently issued reports about the company. Evercore reiterated an “outperform” rating on shares of Ralliant in a report on Tuesday, September 22nd. Citigroup lifted their price objective on Ralliant from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, November 5th. BMO Capital Markets initiated coverage on Ralliant in a research note on Monday, July 20th. They issued a “market perform” rating and a $78.00 price objective on the stock. Zacks Research lowered Ralliant from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 30th. Finally, TD Cowen raised their target price on Ralliant from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Ralliant has a consensus rating of “Moderate Buy” and a consensus price target of $78.40.

Ralliant Trading Up 3.5%

NYSE:RAL opened at $70.07 on Friday. The firm’s fifty day moving average is $68.29 and its 200-day moving average is $59.08. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.00 and a current ratio of 1.65. Ralliant has a 52 week low of $37.27 and a 52 week high of $75.41. The firm has a market cap of $7.75 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.60 and a beta of 1.42.

Ralliant (NYSE:RAL) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.16. Ralliant had a negative net margin of 52.10% and a positive return on equity of 20.40%. The company had revenue of $620.10 million during the quarter. During the same quarter last year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities analysts expect that Ralliant will post 3.14 earnings per share for the current year.

Ralliant Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 23rd. Shareholders of record on Tuesday, December 8th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, December 8th. Ralliant’s dividend payout ratio (DPR) is presently -1.92%.

Insider Buying and Selling at Ralliant

In other Ralliant news, CEO Tamara 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 value of $913,022.88. Following the completion of the sale, the chief executive officer directly owned 246,897 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karen Bick sold 6,062 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $72.00, for a total transaction of $436,464.00. Following the transaction, the senior vice president owned 31,668 shares in the company, valued at $2,280,096. This represents a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 44,870 shares of company stock valued at $3,122,883. Insiders own 0.42% of the company’s stock.

Institutional Trading of Ralliant

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its position in shares of Ralliant by 90.0% during the third quarter. Intech Investment Management LLC now owns 88,873 shares of the company’s stock valued at $6,147,000 after purchasing an additional 42,103 shares in the last quarter. Bessemer Group Inc. grew its position in Ralliant by 2.8% in the 3rd quarter. Bessemer Group Inc. now owns 305,322 shares of the company’s stock worth $21,120,000 after purchasing an additional 8,245 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Ralliant in the 3rd quarter worth about $25,000. Maryland State Retirement & Pension System grew its position in Ralliant by 45.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 31,453 shares of the company’s stock worth $2,176,000 after purchasing an additional 9,770 shares in the last quarter. Finally, Fulcrum Asset Management LLP purchased a new stake in Ralliant in the 3rd quarter valued at about $54,000.

Ralliant Company Profile

Ralliant Corporation is an industrial technology company that develops precision instrumentation and engineered products for customers in sectors such as aerospace and defense, electronics, semiconductor manufacturing, energy, and industrial markets. Its offerings include electronic test and measurement instruments, automated test systems, programmable power supplies, and monitoring and protection technologies for electrical equipment.

The company’s portfolio includes established brands such as Tektronix, Keithley, EA Elektro-Automatik, and Qualitrol.