Hsbc Holdings PLC boosted its position in Ralliant Corporation (NYSE:RAL – Free Report) by 230.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 51,500 shares of the company’s stock after purchasing an additional 35,902 shares during the period. Hsbc Holdings PLC’s holdings in Ralliant were worth $2,627,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Viking Global Investors LP purchased a new position in shares of Ralliant during the second quarter worth approximately $257,200,000. State Street Corp purchased a new stake in shares of Ralliant in the 2nd quarter valued at $213,096,000. Millennium Management LLC grew its holdings in shares of Ralliant by 172.4% during the 4th quarter. Millennium Management LLC now owns 4,973,001 shares of the company’s stock valued at $253,175,000 after purchasing an additional 3,147,660 shares during the last quarter. Norges Bank bought a new position in shares of Ralliant during the 4th quarter valued at $124,687,000. Finally, Invesco Ltd. raised its position in Ralliant by 90.1% in the 3rd quarter. Invesco Ltd. now owns 3,871,690 shares of the company’s stock worth $169,309,000 after purchasing an additional 1,835,128 shares during the period.
Ralliant Stock Performance
Shares of NYSE:RAL opened at $69.25 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $63.06 and a 200-day moving average price of $52.56. The company has a market cap of $7.75 billion and a price-to-earnings ratio of -6.33. Ralliant Corporation has a 12 month low of $37.27 and a 12 month high of $75.41.
Ralliant Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Monday, June 8th were issued a $0.05 dividend. The ex-dividend date was Monday, June 8th. This represents a $0.20 annualized dividend and a yield of 0.3%. Ralliant’s dividend payout ratio (DPR) is -1.83%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. Vertical Research downgraded shares of Ralliant from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research note on Wednesday, May 27th. Citigroup raised their price objective on Ralliant from $51.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Morgan Stanley lifted their price objective on Ralliant from $68.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. Oppenheimer boosted their target price on Ralliant from $50.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada increased their target price on Ralliant from $47.00 to $64.00 and gave the company a “sector perform” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.
Check Out Our Latest Research Report on RAL
Ralliant Company 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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