Manitou Investment Management Ltd. Sells 501 Shares of Roper Technologies, Inc. $ROP

Manitou Investment Management Ltd. cut its holdings in shares of Roper Technologies, Inc. (NASDAQ:ROP) by 0.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 67,659 shares of the industrial products company’s stock after selling 501 shares during the quarter. Roper Technologies makes up approximately 7.3% of Manitou Investment Management Ltd.’s portfolio, making the stock its 7th biggest holding. Manitou Investment Management Ltd.’s holdings in Roper Technologies were worth $38,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Roper Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 10,717,253 shares of the industrial products company’s stock worth $6,318,678,000 after buying an additional 142,150 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Roper Technologies by 9.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,963,540 shares of the industrial products company’s stock valued at $3,515,984,000 after purchasing an additional 500,764 shares during the period. T. Rowe Price Investment Management Inc. increased its holdings in Roper Technologies by 0.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,171,740 shares of the industrial products company’s stock worth $3,049,155,000 after buying an additional 20,238 shares during the last quarter. Nuveen LLC bought a new stake in Roper Technologies during the first quarter worth approximately $894,764,000. Finally, Wellington Management Group LLP boosted its position in shares of Roper Technologies by 92.3% in the first quarter. Wellington Management Group LLP now owns 1,401,048 shares of the industrial products company’s stock valued at $826,030,000 after acquiring an additional 672,306 shares during the period. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ROP shares. Truist Financial upped their price objective on Roper Technologies from $675.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Barclays decreased their price objective on Roper Technologies from $562.00 to $550.00 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Royal Bank Of Canada lifted their target price on Roper Technologies from $695.00 to $703.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Citigroup initiated coverage on Roper Technologies in a report on Wednesday, August 20th. They issued a “buy” rating and a $626.00 price target on the stock. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Roper Technologies in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Roper Technologies presently has an average rating of “Moderate Buy” and an average target price of $635.27.

Roper Technologies Stock Down 1.8%

Shares of ROP opened at $509.00 on Friday. Roper Technologies, Inc. has a 52 week low of $492.25 and a 52 week high of $595.17. The stock has a market capitalization of $54.78 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 2.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.43 and a current ratio of 0.46. The stock has a fifty day moving average of $518.65 and a 200-day moving average of $547.56.

Roper Technologies (NASDAQ:ROP) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $4.81 earnings per share for the quarter. Roper Technologies had a return on equity of 10.83% and a net margin of 20.62%.The business had revenue of $1.88 billion during the quarter. Roper Technologies has set its FY 2025 guidance at 19.750-20.000 EPS. Q1 2025 guidance at 4.700-4.740 EPS. As a group, sell-side analysts anticipate that Roper Technologies, Inc. will post 19.96 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.6%. Roper Technologies’s dividend payout ratio (DPR) is currently 23.19%.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 352 shares of Roper Technologies stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total value of $195,800.00. Following the sale, the director owned 20,510 shares of the company’s stock, valued at approximately $11,408,687.50. The trade was a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John K. Stipancich sold 1,500 shares of Roper Technologies stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $564.17, for a total transaction of $846,255.00. Following the completion of the transaction, the vice president owned 38,932 shares of the company’s stock, valued at $21,964,266.44. This represents a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

About Roper Technologies

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.