California State Teachers Retirement System trimmed its stake in shares of Roper Technologies, Inc. (NASDAQ:ROP – Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,415 shares of the industrial products company’s stock after selling 4,598 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Roper Technologies worth $62,426,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of ROP. Empire Life Investments Inc. boosted its stake in Roper Technologies by 38.5% in the 4th quarter. Empire Life Investments Inc. now owns 45,517 shares of the industrial products company’s stock worth $20,261,000 after purchasing an additional 12,645 shares during the period. Horizon Investments LLC raised its stake in shares of 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 purchasing an additional 4,629 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Roper Technologies by 31.6% in the fourth 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. Vanguard Group Inc. lifted its holdings in shares of Roper Technologies by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 12,477,100 shares of the industrial products company’s stock valued at $5,553,932,000 after purchasing an additional 1,384,656 shares in the last quarter. Finally, Mattern Capital Management LLC boosted its position in shares of Roper Technologies by 36.6% during the fourth quarter. Mattern Capital Management LLC now owns 18,516 shares of the industrial products company’s stock worth $8,242,000 after buying an additional 4,966 shares during the period. Institutional investors own 93.31% of the company’s stock.
Roper Technologies Stock Performance
Shares of NASDAQ ROP opened at $389.25 on Friday. The stock has a 50 day moving average price of $345.41 and a 200 day moving average price of $352.63. Roper Technologies, Inc. has a 52 week low of $305.96 and a 52 week high of $556.23. 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 stock has a market capitalization of $39.28 billion, a PE ratio of 16.12, a price-to-earnings-growth ratio of 1.84 and a beta of 0.76.
Roper Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th were issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, July 8th. Roper Technologies’s payout ratio is presently 15.08%.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada lifted their target price on Roper Technologies from $407.00 to $417.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. BMO Capital Markets assumed coverage on Roper Technologies in a research report on Friday, July 10th. They set a “market perform” rating and a $393.00 price target for the company. Barclays lowered their price objective on shares of Roper Technologies from $380.00 to $373.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of Roper Technologies in a research report on Monday, June 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Roper Technologies from $397.00 to $415.00 and gave the stock an “underweight” rating in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $468.00.
Get Our Latest Analysis on Roper Technologies
Insider Buying and Selling at Roper Technologies
In other news, EVP John K. Stipancich sold 2,000 shares of the business’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $379.05, for a total transaction of $758,100.00. Following the transaction, the executive vice president directly owned 35,634 shares in the company, valued at $13,507,067.70. The trade was a 5.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard F. Wallman sold 6,434 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $361.00, for a total transaction of $2,322,674.00. Following the completion of the sale, the director directly owned 7,423 shares in the company, valued at approximately $2,679,703. The trade was a 46.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.80% of the company’s stock.
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.
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