Empowered Funds LLC acquired a new stake in Ralliant Corporation (NYSE:RAL – Free Report) in the second quarter, HoldingsChannel.com reports. The fund acquired 112,205 shares of the company’s stock, valued at approximately $8,262,000.
Other institutional investors also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new position in Ralliant during the 4th quarter worth approximately $25,000. Dunhill Financial LLC acquired a new stake in shares of Ralliant in the 2nd quarter valued at approximately $25,000. Allworth Financial LP lifted its holdings in shares of Ralliant by 134.4% in the 4th 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 period. Palisade Asset Management LLC purchased a new stake in shares of Ralliant in the third quarter valued at approximately $26,000. Finally, BOKF NA purchased a new stake in shares of Ralliant in the third quarter valued at approximately $29,000.
Ralliant Trading Down 2.6%
NYSE:RAL opened at $61.65 on Friday. The company has a market capitalization of $6.82 billion, a PE ratio of -5.68, a price-to-earnings-growth ratio of 2.29 and a beta of 1.60. The company has a quick ratio of 1.00, a current ratio of 1.52 and a debt-to-equity ratio of 0.75. Ralliant Corporation has a 52-week low of $37.27 and a 52-week high of $75.41. The stock has a fifty day simple moving average of $68.40 and a 200-day simple moving average of $56.42.
Ralliant Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 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 of this dividend is Tuesday, September 8th. Ralliant’s dividend payout ratio is -1.84%.
Insider Activity at Ralliant
In related news, CEO Tamara S. Newcombe sold 12,936 shares of Ralliant stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $71.79, for a total transaction of $928,675.44. Following the completion of the transaction, the chief executive officer directly owned 251,967 shares in the company, valued at $18,088,710.93. The trade was a 4.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Karen M. Bick sold 6,062 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $72.00, for a total value of $436,464.00. Following the completion of the sale, the senior vice president directly owned 31,668 shares in the company, valued at approximately $2,280,096. The trade was a 16.07% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.42% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several brokerages recently commented on RAL. Truist Financial reiterated a “buy” rating and issued a $82.00 price objective (up from $68.00) on shares of Ralliant in a research note on Friday, July 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ralliant in a report on Friday, July 31st. Evercore began coverage on shares of Ralliant in a research report on Tuesday, June 9th. They set an “outperform” rating and a $80.00 price target for the company. Wall Street Zen lowered Ralliant from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Barclays upped their price target on Ralliant from $52.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.70.
Get Our Latest Research Report on RAL
Ralliant 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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