Royal Bank Of Canada Reiterates Buy Rating for Roper Technologies, Inc. (NYSE:ROP)
Royal Bank Of Canada reissued their buy rating on shares of Roper Technologies, Inc. (NYSE:ROP) in a research report sent to investors on Wednesday. The brokerage currently has a $248.00 price target on the industrial products company’s stock.
A number of other brokerages also recently weighed in on ROP. Stifel Nicolaus reiterated a buy rating and issued a $242.00 price target on shares of Roper Technologies in a report on Friday, July 7th. Raymond James Financial, Inc. upped their price objective on Roper Technologies from $253.00 to $268.00 in a research note on Wednesday, July 5th. Zacks Investment Research upgraded Roper Technologies from a hold rating to a buy rating and set a $259.00 price objective for the company in a research note on Tuesday, July 4th. Barclays PLC upped their price objective on Roper Technologies from $221.00 to $237.00 and gave the stock an overweight rating in a research note on Monday, May 1st. Finally, J P Morgan Chase & Co downgraded Roper Technologies from an overweight rating to a neutral rating and set a $219.00 price objective for the company. in a research note on Friday, March 24th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Roper Technologies currently has an average rating of Buy and an average price target of $232.09.
Roper Technologies (NYSE ROP) opened at 236.54 on Wednesday. The firm has a 50-day moving average of $227.90 and a 200-day moving average of $208.27. The firm has a market cap of $24.13 billion, a PE ratio of 36.51 and a beta of 1.05. Roper Technologies has a 52-week low of $159.28 and a 52-week high of $238.49.
Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Friday, April 28th. The industrial products company reported $2.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.12. Roper Technologies had a return on equity of 12.81% and a net margin of 16.74%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the previous year, the business earned $1.81 EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis. Equities analysts anticipate that Roper Technologies will post $9.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 21st. Shareholders of record on Friday, July 7th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.40 dividend on an annualized basis and a yield of 0.59%. Roper Technologies’s dividend payout ratio (DPR) is presently 21.60%.
In other Roper Technologies news, Director Christopher Wright sold 1,800 shares of the business’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $228.70, for a total transaction of $411,660.00. Following the completion of the transaction, the director now owns 66,104 shares in the company, valued at approximately $15,117,984.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Motco raised its position in shares of Roper Technologies by 387.0% in the first quarter. Motco now owns 487 shares of the industrial products company’s stock worth $101,000 after buying an additional 387 shares during the period. Independent Portfolio Consultants Inc. raised its position in shares of Roper Technologies by 164.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 503 shares of the industrial products company’s stock worth $116,000 after buying an additional 313 shares during the period. Private Advisor Group LLC acquired a new position in shares of Roper Technologies during the first quarter worth about $118,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Roper Technologies by 9.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 618 shares of the industrial products company’s stock worth $129,000 after buying an additional 51 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Roper Technologies by 4.1% in the first quarter. Quadrant Capital Group LLC now owns 732 shares of the industrial products company’s stock worth $147,000 after buying an additional 29 shares during the period. Institutional investors own 96.71% of the company’s stock.
About Roper Technologies
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