Strs Ohio Trims Stake in Roper Technologies, Inc. $ROP

Strs Ohio lessened its holdings in Roper Technologies, Inc. (NASDAQ:ROP) by 55.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,708 shares of the industrial products company’s stock after selling 75,635 shares during the period. Strs Ohio owned 0.06% of Roper Technologies worth $30,773,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tranquility Partners LLC boosted its position in shares of Roper Technologies by 10.9% during the 3rd quarter. Tranquility Partners LLC now owns 1,291 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 127 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in Roper Technologies during the third quarter valued at approximately $10,710,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in Roper Technologies by 8.3% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 128,907 shares of the industrial products company’s stock worth $64,285,000 after buying an additional 9,856 shares in the last quarter. Vest Financial LLC increased its holdings in shares of Roper Technologies by 1.5% in the 3rd quarter. Vest Financial LLC now owns 99,288 shares of the industrial products company’s stock worth $49,514,000 after buying an additional 1,504 shares during the last quarter. Finally, Boomfish Wealth Group LLC raised its position in shares of Roper Technologies by 8.0% during the 3rd quarter. Boomfish Wealth Group LLC now owns 3,150 shares of the industrial products company’s stock valued at $1,571,000 after buying an additional 232 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ROP. Piper Sandler cut their target price on shares of Roper Technologies from $600.00 to $530.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Oppenheimer cut their price objective on Roper Technologies from $570.00 to $525.00 and set an “outperform” rating for the company in a report on Friday. Truist Financial set a $650.00 price objective on Roper Technologies in a report on Friday, October 24th. JPMorgan Chase & Co. cut their target price on Roper Technologies from $540.00 to $457.00 and set an “underweight” rating for the company in a research note on Friday, January 16th. Finally, Mizuho reissued an “underperform” rating and set a $419.00 price target (down from $510.00) on shares of Roper Technologies in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $547.86.

Insider Activity

In other Roper Technologies news, CEO Laurence Neil Hunn sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $443.57, for a total transaction of $13,307,100.00. Following the completion of the transaction, the chief executive officer owned 87,311 shares of the company’s stock, valued at $38,728,540.27. This represents a 25.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amy Woods Brinkley acquired 1,200 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $450.71 per share, for a total transaction of $540,852.00. Following the completion of the transaction, the director owned 18,184 shares in the company, valued at approximately $8,195,710.64. The trade was a 7.07% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.78% of the company’s stock.

Roper Technologies Stock Performance

Shares of ROP stock opened at $407.61 on Friday. The company has a market capitalization of $43.88 billion, a P/E ratio of 28.09, a PEG ratio of 1.90 and a beta of 0.94. Roper Technologies, Inc. has a fifty-two week low of $399.09 and a fifty-two week high of $595.17. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.53 and a current ratio of 0.58. The stock has a 50 day moving average price of $438.59 and a two-hundred day moving average price of $487.02.

Roper Technologies (NASDAQ:ROP) last issued its earnings results on Thursday, October 23rd. The industrial products company reported $5.14 EPS for the quarter, topping the consensus estimate of $5.11 by $0.03. Roper Technologies had a net margin of 20.34% and a return on equity of 10.92%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.02 billion. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.62 earnings per share. Analysts expect that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were given a $0.91 dividend. The ex-dividend date was Friday, January 2nd. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.83. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.9%. Roper Technologies’s dividend payout ratio is presently 25.09%.

Roper Technologies Profile

Roper Technologies, Inc (NASDAQ: ROP) is a diversified technology company that acquires and manages businesses delivering specialized software, engineered products and data-driven analytics to niche markets. Its subsidiaries develop enterprise and cloud-based software, scientific and analytical instruments, industrial and medical devices, and other applied technologies designed to solve specific operational, regulatory and commercial challenges for customers. The company emphasizes recurring revenue streams from software licenses, subscriptions and service contracts alongside sales of hardware and instruments.

Roper operates a decentralized operating model in which acquired businesses retain entrepreneurial autonomy while benefiting from centralized capital allocation, legal and financial support.