Caisse de depot et placement du Quebec acquired a new stake in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 253,826 shares of the industrial products company’s stock, valued at approximately $85,892,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Empire Life Investments Inc. grew its holdings in Roper Technologies by 38.5% during the fourth quarter. Empire Life Investments Inc. now owns 45,517 shares of the industrial products company’s stock worth $20,261,000 after acquiring an additional 12,645 shares during the period. Horizon Investments LLC lifted its holdings in Roper Technologies by 94.7% in the 4th quarter. Horizon Investments LLC now owns 9,519 shares of the industrial products company’s stock valued at $4,229,000 after acquiring an additional 4,629 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Roper Technologies by 31.6% during the 4th quarter. BNP Paribas Financial Markets now owns 444,950 shares of the industrial products company’s stock valued at $198,061,000 after purchasing an additional 106,902 shares in the last quarter. Barclays PLC grew its stake in shares of Roper Technologies by 13.3% in the 4th quarter. Barclays PLC now owns 454,806 shares of the industrial products company’s stock worth $202,448,000 after purchasing an additional 53,359 shares during the last quarter. Finally, North Star Asset Management Inc. raised its holdings in shares of Roper Technologies by 14.0% in the 4th quarter. North Star Asset Management Inc. now owns 36,317 shares of the industrial products company’s stock worth $16,166,000 after purchasing an additional 4,462 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.
Roper Technologies Stock Performance
ROP stock opened at $422.69 on Friday. The stock has a market cap of $41.80 billion, a P/E ratio of 17.51, a P/E/G ratio of 1.86 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.51 and a current ratio of 0.55. The firm has a 50 day simple moving average of $374.04 and a 200 day simple moving average of $354.20. Roper Technologies, Inc. has a 52 week low of $305.96 and a 52 week high of $532.18.
Roper Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be paid a $0.91 dividend. The ex-dividend date of this dividend is Friday, October 2nd. This represents a $3.64 annualized dividend and a dividend yield of 0.9%. Roper Technologies’s payout ratio is presently 15.08%.
Insider Activity at Roper Technologies
In related news, Director Richard F. Wallman sold 6,434 shares of Roper Technologies stock in a transaction on Friday, July 24th. The shares were sold at an average price of $361.00, for a total value of $2,322,674.00. Following the completion of the sale, the director owned 7,423 shares of the company’s stock, valued at approximately $2,679,703. The trade was a 46.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John K. Stipancich sold 2,000 shares of the firm’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $379.05, for a total value of $758,100.00. Following the transaction, the executive vice president owned 35,634 shares in the company, valued at approximately $13,507,067.70. This trade represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.80% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have issued reports on ROP. Zacks Research lowered shares of Roper Technologies from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 25th. Raymond James Financial lowered Roper Technologies from a “strong-buy” rating to a “market perform” rating in a research report on Wednesday, July 22nd. BMO Capital Markets assumed coverage on Roper Technologies in a report on Friday, July 10th. They set a “market perform” rating and a $393.00 price objective on the stock. Argus upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $450.00 target price for the company in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Roper Technologies from $397.00 to $415.00 and gave the company an “underweight” rating in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $466.94.
Read Our Latest Stock Report on ROP
Roper Technologies Company 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.
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