Portfolio Design Labs LLC acquired a new position in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,976 shares of the industrial products company’s stock, valued at approximately $1,007,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROP. Private Wealth Management Group LLC increased its holdings in shares of Roper Technologies by 195.8% in the first quarter. Private Wealth Management Group LLC now owns 71 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 47 shares in the last quarter. Triumph Capital Management bought a new position in shares of Roper Technologies during the 3rd quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Roper Technologies during the 2nd quarter valued at about $27,000. Tucker Asset Management LLC acquired a new position in shares of Roper Technologies in the 4th quarter valued at approximately $33,000. Finally, Global Assets Advisory LLC bought a new stake in Roper Technologies during the 1st quarter worth approximately $36,000. 93.31% of the stock is currently owned by institutional investors.
Roper Technologies Trading Up 0.8%
Roper Technologies stock opened at $410.45 on Friday. The company has a market cap of $40.59 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.83 and a beta of 0.74. The firm has a 50-day moving average of $365.81 and a 200-day moving average of $352.22. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.55 and a quick ratio of 0.51. Roper Technologies, Inc. has a one year low of $305.96 and a one year high of $540.34.
Roper Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Stockholders of record on Friday, October 2nd will be paid a dividend of $0.91 per share. The ex-dividend date is Friday, October 2nd. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.9%. Roper Technologies’s dividend payout ratio is currently 15.08%.
Analysts Set New Price Targets
ROP has been the topic of several research analyst reports. Argus upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Thursday, August 6th. Robert W. Baird set a $480.00 price objective on shares of Roper Technologies in a research report on Friday, July 24th. Royal Bank Of Canada restated a “sector perform” rating and set a $417.00 price objective on shares of Roper Technologies in a report on Tuesday. Mizuho set a $355.00 target price on shares of Roper Technologies in a research note on Tuesday, July 21st. Finally, Raymond James Financial cut Roper Technologies from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $466.94.
Check Out Our Latest Analysis on ROP
Insider Activity at Roper Technologies
In related news, Director Richard F. Wallman sold 6,434 shares of the firm’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $361.00, for a total value of $2,322,674.00. Following the completion of the transaction, the director directly owned 7,423 shares of the company’s stock, valued at approximately $2,679,703. This trade represents a 46.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John K. Stipancich sold 2,000 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $379.05, for a total transaction of $758,100.00. Following the transaction, the executive vice president owned 35,634 shares in the company, valued at approximately $13,507,067.70. The trade was a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.80% of the company’s stock.
Roper Technologies Company Profile
Roper Technologies, Inc (NASDAQ: ROP) is a diversified technology company that acquires and manages businesses delivering specialized software, engineered products and data-driven analytics to niche markets. Its subsidiaries develop enterprise and cloud-based software, scientific and analytical instruments, industrial and medical devices, and other applied technologies designed to solve specific operational, regulatory and commercial challenges for customers. The company emphasizes recurring revenue streams from software licenses, subscriptions and service contracts alongside sales of hardware and instruments.
Roper operates a decentralized operating model in which acquired businesses retain entrepreneurial autonomy while benefiting from centralized capital allocation, legal and financial support.
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