Sumitomo Mitsui Trust Holdings Inc. Grows Stake in Roper Technologies Inc (ROP)
Sumitomo Mitsui Trust Holdings Inc. grew its position in Roper Technologies Inc (NYSE:ROP) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 358,045 shares of the industrial products company’s stock after acquiring an additional 29,631 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.35% of Roper Technologies worth $106,057,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROP. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Roper Technologies in the second quarter valued at approximately $70,394,000. Point72 Asset Management L.P. lifted its position in shares of Roper Technologies by 949.7% in the second quarter. Point72 Asset Management L.P. now owns 157,454 shares of the industrial products company’s stock valued at $43,443,000 after acquiring an additional 142,454 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Roper Technologies by 1,234.4% in the second quarter. Marshall Wace LLP now owns 131,637 shares of the industrial products company’s stock valued at $36,320,000 after acquiring an additional 121,772 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Roper Technologies by 9.4% in the third quarter. American Century Companies Inc. now owns 1,203,440 shares of the industrial products company’s stock valued at $356,471,000 after acquiring an additional 103,569 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Roper Technologies by 204.4% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 137,491 shares of the industrial products company’s stock valued at $40,726,000 after acquiring an additional 92,326 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.
Shares of Roper Technologies stock opened at $287.98 on Thursday. Roper Technologies Inc has a one year low of $252.23 and a one year high of $312.65. The company has a market cap of $29.93 billion, a P/E ratio of 30.57, a P/E/G ratio of 2.00 and a beta of 1.14. The company has a current ratio of 0.76, a quick ratio of 0.66 and a debt-to-equity ratio of 0.58.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Wednesday, January 9th will be given a dividend of $0.4625 per share. This is an increase from Roper Technologies’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, January 8th. This represents a $1.85 dividend on an annualized basis and a yield of 0.64%. Roper Technologies’s dividend payout ratio (DPR) is presently 17.52%.
Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded Roper Technologies from an “overweight” rating to a “neutral” rating and set a $305.00 target price on the stock. in a research report on Friday, September 21st. Raymond James downgraded Roper Technologies from a “strong-buy” rating to an “outperform” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded Roper Technologies from a “hold” rating to a “buy” rating and set a $335.00 target price on the stock in a research report on Monday, July 30th. Argus lifted their price objective on Roper Technologies from $295.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Cowen reiterated a “buy” rating and set a $330.00 price objective on shares of Roper Technologies in a research report on Tuesday, July 31st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $317.82.
In other Roper Technologies news, Director Richard F. Wallman bought 500 shares of the business’s stock in a transaction on Friday, September 14th. The stock was bought at an average price of $312.35 per share, with a total value of $156,175.00. Following the completion of the purchase, the director now directly owns 52,965 shares in the company, valued at $16,543,617.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert D. Johnson sold 750 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $298.37, for a total value of $223,777.50. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
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Roper Technologies Profile
Roper Technologies, Inc designs and develops software, and engineered products and solutions. It operates in four segments: RF Technology; Medical & Scientific Imaging; Industrial Technology; and Energy Systems & Controls. The company offers radio frequency identification (RFID) communication technology and software solutions, including application management software, software-as-a-service applications, card systems/integrated security solutions, toll and traffic systems, RFID card readers, and metering and remote monitoring products.
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