Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Roper Technologies Inc (NYSE:ROP) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 393,309 shares of the industrial products company’s stock after purchasing an additional 2,305 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Roper Technologies were worth $134,500,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Roper Technologies in the fourth quarter worth approximately $257,192,000. BlackRock Inc. boosted its holdings in Roper Technologies by 3.7% during the fourth quarter. BlackRock Inc. now owns 7,181,267 shares of the industrial products company’s stock worth $1,913,952,000 after buying an additional 255,881 shares during the last quarter. Villere ST Denis J & Co. LLC bought a new position in Roper Technologies during the fourth quarter worth about $59,432,000. Frontier Capital Management Co. LLC bought a new position in Roper Technologies during the first quarter worth about $64,498,000. Finally, JPMorgan Chase & Co. boosted its holdings in Roper Technologies by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 1,249,142 shares of the industrial products company’s stock worth $370,008,000 after buying an additional 134,469 shares during the last quarter. Hedge funds and other institutional investors own 92.29% of the company’s stock.
In related news, Director Robert D. Johnson sold 750 shares of Roper Technologies stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $326.11, for a total value of $244,582.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christopher Wright sold 1,750 shares of Roper Technologies stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $328.13, for a total value of $574,227.50. Following the completion of the sale, the director now directly owns 60,163 shares in the company, valued at approximately $19,741,285.19. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company insiders.
ROP has been the topic of several recent analyst reports. Stephens lifted their price objective on Roper Technologies from $390.00 to $402.00 and gave the company an “overweight” rating in a report on Tuesday, April 30th. Raymond James lifted their price objective on Roper Technologies from $330.00 to $370.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Argus lifted their price objective on Roper Technologies from $330.00 to $365.00 and gave the company a “buy” rating in a report on Friday, April 26th. Barclays lifted their price objective on Roper Technologies from $316.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, April 3rd. Finally, Oppenheimer lifted their price objective on Roper Technologies from $335.00 to $375.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $349.90.
Shares of NYSE:ROP traded up $6.28 during trading on Tuesday, hitting $359.37. 4,299 shares of the company’s stock traded hands, compared to its average volume of 395,225. Roper Technologies Inc has a 52 week low of $245.59 and a 52 week high of $363.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.10 and a quick ratio of 0.95. The stock has a market capitalization of $36.86 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 2.26 and a beta of 1.21.
Roper Technologies (NYSE:ROP) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $3.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.78 by $0.52. Roper Technologies had a return on equity of 17.00% and a net margin of 20.90%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted $2.61 EPS. Roper Technologies’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, research analysts expect that Roper Technologies Inc will post 12.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were given a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Friday, April 5th. Roper Technologies’s dividend payout ratio is presently 15.66%.
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.
Read More: Investing in Blue-Chip Stocks
Want to see what other hedge funds are holding ROP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roper Technologies Inc (NYSE:ROP).
Receive News & Ratings for Roper Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roper Technologies and related companies with MarketBeat.com's FREE daily email newsletter.