Maryland State Retirement & Pension System Acquires 9,770 Shares of Ralliant Corporation $RAL

Maryland State Retirement & Pension System lifted its holdings in Ralliant Corporation (NYSE:RAL) by 45.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,453 shares of the company’s stock after purchasing an additional 9,770 shares during the period. Maryland State Retirement & Pension System’s holdings in Ralliant were worth $2,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Ralliant in the 2nd quarter worth approximately $1,039,481,000. Flossbach Von Storch SE acquired a new stake in Ralliant during the second quarter valued at approximately $222,460,000. Irenic Capital Management LP boosted its holdings in Ralliant by 424.1% during the first quarter. Irenic Capital Management LP now owns 1,740,218 shares of the company’s stock worth $72,376,000 after buying an additional 1,408,176 shares in the last quarter. Rokos Capital Management LLP bought a new stake in Ralliant during the first quarter worth approximately $42,022,000. Finally, Bank of New York Mellon Corp bought a new stake in Ralliant during the second quarter worth approximately $50,707,000.

Insider Activity

In other news, SVP Karen M. Bick sold 6,062 shares of the business’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 transaction of $436,464.00. Following the sale, the senior vice president owned 31,668 shares in the company, valued at $2,280,096. The trade was a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Tamara S. Newcombe sold 12,936 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $70.58, for a total transaction of $913,022.88. Following the completion of the sale, the chief executive officer owned 246,897 shares of the company’s stock, valued at approximately $17,425,990.26. This trade represents a 4.98% 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. Over the last quarter, insiders sold 31,934 shares of company stock valued at $2,194,208. Corporate insiders own 0.42% of the company’s stock.

Ralliant Trading Down 2.8%

RAL traded down $1.96 during trading on Friday, reaching $68.61. The company had a trading volume of 1,345,057 shares, compared to its average volume of 1,568,105. The firm’s 50-day simple moving average is $68.95 and its 200 day simple moving average is $59.40. The company has a market cap of $7.59 billion, a price-to-earnings ratio of -6.58, a PEG ratio of 1.44 and a beta of 1.42. Ralliant Corporation has a 12-month low of $37.27 and a 12-month high of $75.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.14 and a current ratio of 1.65.

Ralliant (NYSE:RAL) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.16. Ralliant had a positive return on equity of 20.40% and a negative net margin of 52.10%. The firm had revenue of $620.10 million for the quarter. During the same quarter in the previous year, the firm posted $0.60 EPS. Ralliant’s quarterly revenue was up 17.2% on a year-over-year basis. Equities research analysts anticipate that Ralliant Corporation will post 3.15 earnings per share for the current year.

Ralliant Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, December 8th. Ralliant’s dividend payout ratio (DPR) is presently -1.92%.

Analyst Upgrades and Downgrades

RAL has been the topic of several recent research reports. Oppenheimer lifted their price target on shares of Ralliant from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Seaport Research Partners raised Ralliant from a “neutral” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Wednesday, October 14th. Citigroup increased their price objective on Ralliant from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Royal Bank Of Canada raised their price objective on Ralliant from $72.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 5th. Finally, Truist Financial reissued a “buy” rating and set a $88.00 price objective (up from $82.00) on shares of Ralliant in a research note on Thursday, November 5th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ralliant presently has an average rating of “Moderate Buy” and an average target price of $78.40.

Ralliant 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.