Allient (NASDAQ:ALNT) Given New $110.00 Price Target at JPMorgan Chase & Co.

Allient (NASDAQ:ALNT) had its price objective lowered by JPMorgan Chase & Co. from $120.00 to $110.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the stock. Wall Street Zen upgraded shares of Allient from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings cut shares of Allient from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Finally, Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.33.

Allient Price Performance

Shares of NASDAQ ALNT opened at $81.32 on Friday. The company has a quick ratio of 1.99, a current ratio of 3.49 and a debt-to-equity ratio of 0.53. The company has a market cap of $1.38 billion, a P/E ratio of 36.63 and a beta of 1.62. Allient has a 52 week low of $48.12 and a 52 week high of $121.42. The business has a 50-day simple moving average of $98.64 and a two-hundred day simple moving average of $82.89.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.33. Allient had a return on equity of 15.80% and a net margin of 6.24%. The business had revenue of $164.40 million during the quarter, compared to analyst estimates of $155.25 million. Research analysts anticipate that Allient will post 2.72 earnings per share for the current fiscal year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 18th. Allient’s dividend payout ratio (DPR) is currently 7.21%.

Institutional Investors Weigh In On Allient

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new position in shares of Allient in the 2nd quarter worth about $25,000. Kilter Group LLC bought a new position in shares of Allient during the 2nd quarter valued at about $37,000. GAMMA Investing LLC raised its holdings in shares of Allient by 29.3% during the 3rd quarter. GAMMA Investing LLC now owns 485 shares of the company’s stock valued at $54,000 after buying an additional 110 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Allient by 853.8% during the 3rd quarter. Sterling Capital Management LLC now owns 496 shares of the company’s stock valued at $55,000 after buying an additional 444 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Allient by 51.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,851 shares of the company’s stock valued at $207,000 after buying an additional 630 shares in the last quarter. 61.57% of the stock is currently owned by institutional investors.

About Allient

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.