State of Michigan Retirement System grew its stake in Roper Technologies Inc (NYSE:ROP) by 11.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,647 shares of the industrial products company’s stock after purchasing an additional 2,745 shares during the quarter. State of Michigan Retirement System’s holdings in Roper Technologies were worth $10,346,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Akre Capital Management LLC lifted its stake in Roper Technologies by 8.8% during the 1st quarter. Akre Capital Management LLC now owns 1,705,110 shares of the industrial products company’s stock valued at $531,670,000 after acquiring an additional 137,978 shares in the last quarter. Invesco Ltd. lifted its position in shares of Roper Technologies by 25.1% during the first quarter. Invesco Ltd. now owns 1,612,083 shares of the industrial products company’s stock valued at $502,663,000 after purchasing an additional 323,016 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Roper Technologies by 16.1% during the first quarter. Principal Financial Group Inc. now owns 1,563,073 shares of the industrial products company’s stock worth $487,382,000 after purchasing an additional 217,224 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in Roper Technologies by 0.8% during the first quarter. Loomis Sayles & Co. L P now owns 729,942 shares of the industrial products company’s stock worth $227,603,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Roper Technologies by 5.2% in the 1st quarter. Legal & General Group Plc now owns 716,221 shares of the industrial products company’s stock worth $223,496,000 after purchasing an additional 35,403 shares in the last quarter. 92.35% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on ROP shares. Wells Fargo & Co boosted their target price on Roper Technologies from $475.00 to $490.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays boosted their price objective on Roper Technologies from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Oppenheimer reaffirmed a “hold” rating on shares of Roper Technologies in a research report on Tuesday, July 28th. Raymond James boosted their price target on shares of Roper Technologies from $410.00 to $475.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Argus increased their price target on shares of Roper Technologies from $400.00 to $475.00 and gave the company a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $412.80.
In other news, Director John F. Fort III sold 4,540 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $372.43, for a total transaction of $1,690,832.20. Following the sale, the director now directly owns 14,340 shares in the company, valued at $5,340,646.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Wilbur J. Prezzano sold 3,500 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $355.65, for a total value of $1,244,775.00. Following the sale, the director now owns 16,880 shares in the company, valued at $6,003,372. The disclosure for this sale can be found here. Insiders have sold a total of 12,040 shares of company stock worth $4,415,607 in the last three months. Insiders own 1.90% of the company’s stock.
ROP stock opened at $432.45 on Friday. The stock has a fifty day moving average of $399.72 and a 200-day moving average of $363.86. Roper Technologies Inc has a fifty-two week low of $240.00 and a fifty-two week high of $441.03. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 3.38 and a beta of 1.06. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.87 and a current ratio of 1.27.
Roper Technologies (NYSE:ROP) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.27. Roper Technologies had a net margin of 29.75% and a return on equity of 14.20%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the business earned $3.07 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Equities analysts predict that Roper Technologies Inc will post 12.2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were paid a $0.5125 dividend. The ex-dividend date was Tuesday, July 7th. This represents a $2.05 dividend on an annualized basis and a yield of 0.47%. Roper Technologies’s dividend payout ratio is 15.71%.
Roper Technologies Profile
Roper Technologies, Inc designs and develops software, and engineered products and solutions worldwide. The company operates in four segments: Application Software; Network Software & Systems; Measurement & Analytical Solutions; and Process Technologies. It offers application management software, software-as-a-service applications, card systems/integrated security, toll and traffic systems, radio frequency identification card readers, and metering and remote monitoring products.
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