Ralliant (RAL)
Builds Tektronix oscilloscopes and Qualitrol grid sensors across two precision-instrument segments.
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Runs two segments of precision-instrument brands split from Fortive in 2025 — Tektronix, Keithley, and EA Elektro-Automatik build test and measurement equipment for semiconductor, defense, and electronics customers, while Qualitrol, Gems, Setra, and PacSci EMC make grid-monitoring and safety sensors for utilities, industrial, and aerospace markets.
Spun off from Fortive in 2025, the business combines a two-segment portfolio of precision-instrument brands that predate the parent by decades.
The Test and Measurement segment builds oscilloscopes, probes, source-measure units, semiconductor test systems, and high-power bidirectional power supplies under the Tektronix, Keithley, Sonix, and EA Elektro-Automatik names, serving semiconductor designers, hyperscalers, defense and space programs, and university and EV test labs.
The Sensors and Safety Systems segment monitors power-grid equipment under the Qualitrol brand, supplies level, flow, pressure, and motion sensors through Gems, Setra, Hengstler Dynapar, Anderson-Negele, and Dover Motion, and makes pyrotechnic safety devices for aerospace and defense through PacSci EMC.
Industrial manufacturing, electronics, defense and space, and utility customers each contribute meaningfully to revenue, with more than half billed to the Americas. Defense budgets, space funding, and grid-modernization spending shape demand across both segments.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 9, 2026 | Oppenheimer | Reiterate | Rating: —Target: $65 | Target: $80 |
| Jul 20, 2026 | BMO Capital | Initiate | Rating: —Target: — | Target: $78 |
| Jul 16, 2026 | RBC Capital | Reiterate | Rating: —Target: $64 | Target: $71 |
| May 27, 2026 | Vertical Research | Target | Target: $45 | Target: $65 |
| May 13, 2026 | RBC Capital | Reiterate | Rating: —Target: $41 | Target: $64 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 3, 2026Cash & short-term investments $270.9M · Total debt $1.15B · Total assets $3.71B · Shareholders' equity $1.53B
- Revenue
- $567.8M
- Operating income
- $82.2M
- Net income
- $57.2M
HistoryDividendAnnual yield
| Institutions | ≈ 103.05% | 114.01M shares | |
|---|---|---|---|
| 542 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.51% | 564.5K shares | |
| 14 holders · as of Sep 16, 2026 | |||
| Adds to | 103.56% | ||
110.64M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 103.56%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 12.76% | 14.12M | as of Jun 30, 2026 |
Dodge & CoxInstitution | 12.66% | 14.01M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 6.94% | 7.68M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.57% | 5.06M | as of Jun 30, 2026 |
Millennium Management LLCInstitution | 4.07% | 4.50M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | Tamara S. Newcombe | director, officer: President and CEO | −12,936 | $65.30 |
| Aug 14, 2026 | Tamara S. Newcombe | director, officer: President and CEO | −12,936 | $71.79 |
| Aug 17, 2026 | Karen M. Bick | officer: SVP - Chief People Officer | −6,062 | $72.00 |
| May 28, 2026 | Teo Osben | officer: Chief Accounting Officer | −27,058 | $62.44 |
| Mar 5, 2026 | Karen M. Bick | officer: SVP - Chief People Officer | −2,530 | $46.50 |
- Keysight Technologies
Largest named rival across oscilloscopes, RF test, and semiconductor test
- Teledyne Technologies
Direct oscilloscope rival with broad sensing and defense-electronics overlap
- AMETEK
Overlaps both segments via process/aerospace instruments and EMC test
- Emerson Electric
NI's automated test plus Rosemount / Micro Motion sensors span both segments
- ESCO Technologies
Named 10-K rival; grid diagnostics and RF/EMC test overlap both segments
- Curtiss-Wright
Defense sensors, nuclear instrumentation, and flight-test data-acquisition rival
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ralliant | $69.81 | +1.31% | $7.62B | — | 22.5 | 3.5 | +12.8% |
| Keysight Technologies | $342.36 | +0.10% | $58.45B | 47.1 | 25.7 | 8.9 | +36.5% |
| Teledyne Technologies | $608.60 | −0.08% | $28.23B | 29.4 | 23.8 | 4.4 | +9.8% |
| AMETEK | $243.53 | +0.95% | $55.29B | 35.3 | 27.8 | 7.0 | +15.0% |
| Emerson Electric | $153.63 | +1.26% | $84.92B | 33.2 | 21.7 | 4.6 | +7.0% |
| ESCO Technologies | $262.67 | +0.10% | $6.80B | 21.6 | 29.4 | 5.3 | +14.4% |
| Curtiss-Wright | $546.64 | −3.76% | $20.98B | 39.1 | 34.0 | 5.7 | +5.4% |
| Median | 34.2 | 26.8 | 5.5 | +12.1% |