Mackay Shields LLC lessened its holdings in Roper Technologies Inc (NYSE:ROP) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,695 shares of the industrial products company’s stock after selling 507 shares during the period. Mackay Shields LLC’s holdings in Roper Technologies were worth $4,607,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ROP. Progressive Investment Management Corp boosted its holdings in Roper Technologies by 2.2% in the first quarter. Progressive Investment Management Corp now owns 17,497 shares of the industrial products company’s stock valued at $4,911,000 after purchasing an additional 372 shares in the last quarter. HL Financial Services LLC acquired a new position in Roper Technologies in the first quarter valued at approximately $330,000. Wells Fargo & Company MN boosted its holdings in shares of Roper Technologies by 23.1% in the first quarter. Wells Fargo & Company MN now owns 364,111 shares of the industrial products company’s stock valued at $102,202,000 after acquiring an additional 68,395 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Roper Technologies by 12.9% in the first quarter. Daiwa Securities Group Inc. now owns 3,512 shares of the industrial products company’s stock valued at $986,000 after acquiring an additional 402 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of Roper Technologies by 6.2% in the first quarter. Rhumbline Advisers now owns 212,258 shares of the industrial products company’s stock valued at $59,579,000 after acquiring an additional 12,326 shares during the period. Institutional investors own 93.49% of the company’s stock.
ROP stock opened at $297.88 on Friday. The company has a market capitalization of $30.31 billion, a PE ratio of 31.62, a PEG ratio of 2.07 and a beta of 1.14. Roper Technologies Inc has a twelve month low of $227.31 and a twelve month high of $312.38. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.80 and a quick ratio of 0.70.
Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Thursday, July 26th. The industrial products company reported $2.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.19. Roper Technologies had a return on equity of 15.81% and a net margin of 21.99%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company earned $2.24 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. sell-side analysts predict that Roper Technologies Inc will post 11.51 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 23rd. Investors of record on Monday, July 9th were issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Friday, July 6th. Roper Technologies’s dividend payout ratio is presently 17.52%.
In related news, Director Richard F. Wallman purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The stock was purchased at an average cost of $299.50 per share, with a total value of $149,750.00. Following the completion of the acquisition, the director now directly owns 52,465 shares in the company, valued at $15,713,267.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Christopher Wright sold 1,250 shares of the stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $286.97, for a total value of $358,712.50. Following the sale, the director now directly owns 63,300 shares of the company’s stock, valued at $18,165,201. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,250 shares of company stock valued at $2,751,193. Corporate insiders own 2.30% of the company’s stock.
ROP has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Roper Technologies from $303.00 to $305.00 and gave the company an “overweight” rating in a report on Tuesday, April 24th. Zacks Investment Research raised Roper Technologies from a “hold” rating to a “buy” rating and set a $335.00 price objective for the company in a report on Monday, July 30th. ValuEngine raised Roper Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Barclays increased their price objective on Roper Technologies from $285.00 to $290.00 and gave the company an “equal weight” rating in a report on Monday, April 23rd. Finally, Raymond James downgraded Roper Technologies from a “strong-buy” rating to an “outperform” rating in a report on Friday, July 27th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $313.50.
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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