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NEW YORK - Ralliant Corporation (NYSE:RAL) began trading as an independent, publicly traded company on the New York Stock Exchange Monday following its separation from Fortive Corporation. The stock, currently trading at $52.98, has shown strong momentum with an 11.54% gain since its listing. According to InvestingPro, the company’s shares have established a trading range between $46.80 and $55.08.
The Raleigh, North Carolina-based precision technology provider also announced its Board of Directors has approved a share repurchase authorization of up to $200 million of its common stock with no expiration date. With average daily trading volume of 0.22 million shares, the buyback program could provide significant support for the stock price.
Tami Newcombe has assumed the role of President and Chief Executive Officer and joined Ralliant’s Board of Directors as previously planned.
"As we begin our next chapter as an independent company, we are well-positioned as a global leader in mission-critical precision technologies trusted by over 90,000 customers," Newcombe said in a press release statement.
The company operates through two strategic segments - Test and Measurement and Sensors and Safety Systems - and employs more than 7,000 people globally. Ralliant designs, develops, manufactures and services precision instruments and engineered products focused on utilities, defense and space, and power electronics markets.
Neill Reynolds, Ralliant’s Chief Financial Officer, indicated the company will take a disciplined approach to capital deployment, prioritizing organic reinvestment, capital return to shareholders, and selective tuck-in acquisitions.
The share repurchase authorization, which can be suspended or discontinued at any time, aligns with the company’s stated capital allocation strategy of returning value to shareholders.
Ralliant’s separation from Fortive Corporation marks the culmination of a previously announced spin-off transaction, creating a standalone entity specializing in precision technologies with what the company describes as a strong track record of adjusted EBITDA growth and free cash flow generation. For detailed financial analysis and exclusive insights about Ralliant’s growth prospects, visit InvestingPro, where subscribers can access comprehensive valuation metrics and expert ProTips.
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