Davis R M Inc. reduced its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 179,910 shares of the industrial products company’s stock after selling 2,231 shares during the period. Roper Technologies makes up approximately 1.8% of Davis R M Inc.’s investment portfolio, making the stock its 16th largest position. Davis R M Inc.’s holdings in Roper Technologies were worth $41,655,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in ROP. BlackRock Inc. raised its stake in Roper Technologies by 2,678.8% in the first quarter. BlackRock Inc. now owns 7,976,924 shares of the industrial products company’s stock valued at $1,647,156,000 after buying an additional 7,689,856 shares in the last quarter. Vanguard Group Inc. raised its stake in Roper Technologies by 4.8% in the first quarter. Vanguard Group Inc. now owns 10,502,167 shares of the industrial products company’s stock valued at $2,168,593,000 after buying an additional 479,056 shares in the last quarter. Mar Vista Investment Partners LLC acquired a new stake in Roper Technologies during the first quarter valued at about $81,545,000. Renaissance Technologies LLC acquired a new stake in Roper Technologies during the first quarter valued at about $76,360,000. Finally, Victory Capital Management Inc. raised its stake in Roper Technologies by 164.7% in the first quarter. Victory Capital Management Inc. now owns 509,560 shares of the industrial products company’s stock valued at $105,220,000 after buying an additional 317,027 shares in the last quarter. Hedge funds and other institutional investors own 96.93% of the company’s stock.

Roper Technologies, Inc. (NYSE ROP) opened at 236.66 on Monday. The company has a market cap of $24.16 billion, a price-to-earnings ratio of 35.43 and a beta of 1.04. The stock’s 50 day moving average price is $233.38 and its 200-day moving average price is $216.23. Roper Technologies, Inc. has a 52 week low of $167.50 and a 52 week high of $238.49.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Monday, July 31st. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.02. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Roper Technologies had a net margin of 16.44% and a return on equity of 13.66%. Roper Technologies’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 EPS. On average, equities research analysts forecast that Roper Technologies, Inc. will post $9.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 7th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.59%. Roper Technologies’s dividend payout ratio (DPR) is presently 20.96%.

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Several analysts have issued reports on ROP shares. Cowen and Company restated an “outperform” rating and issued a $250.00 price objective (up previously from $220.00) on shares of Roper Technologies in a research note on Monday, April 17th. Barclays PLC upped their price objective on Roper Technologies from $221.00 to $237.00 and gave the company an “overweight” rating in a research note on Monday, May 1st. Zacks Investment Research lowered Roper Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Stifel Nicolaus restated a “buy” rating and issued a $242.00 price objective on shares of Roper Technologies in a research note on Friday, July 7th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $245.00 price objective on shares of Roper Technologies in a research note on Tuesday, April 11th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $238.42.

In related news, Director Christopher Wright sold 1,800 shares of Roper Technologies stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $228.70, for a total value of $411,660.00. Following the sale, the director now owns 66,104 shares of the company’s stock, valued at approximately $15,117,984.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.50% of the company’s stock.

Roper Technologies Company Profile

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Institutional Ownership by Quarter for Roper Technologies (NYSE:ROP)

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