State Board of Administration of Florida Retirement System lifted its holdings in shares of Roper Technologies Inc (NYSE:ROP) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,934 shares of the industrial products company’s stock after buying an additional 976 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of Roper Technologies worth $38,609,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Roper Technologies in the 2nd quarter valued at about $70,394,000. ProShare Advisors LLC raised its holdings in shares of Roper Technologies by 1,767.3% in the 1st quarter. ProShare Advisors LLC now owns 267,263 shares of the industrial products company’s stock valued at $75,018,000 after purchasing an additional 252,950 shares during the period. Summit Trail Advisors LLC raised its holdings in shares of Roper Technologies by 22,663.3% in the 1st quarter. Summit Trail Advisors LLC now owns 242,202 shares of the industrial products company’s stock valued at $242,000 after purchasing an additional 241,138 shares during the period. BlackRock Inc. raised its holdings in shares of Roper Technologies by 1.9% in the 1st quarter. BlackRock Inc. now owns 7,143,959 shares of the industrial products company’s stock valued at $2,005,238,000 after purchasing an additional 135,278 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Roper Technologies by 103.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 230,683 shares of the industrial products company’s stock valued at $64,750,000 after purchasing an additional 117,562 shares during the period. Institutional investors own 93.49% of the company’s stock.
A number of brokerages have recently issued reports on ROP. JPMorgan Chase & Co. upped their target price on shares of Roper Technologies from $303.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, July 27th. Raymond James cut shares of Roper Technologies from a “strong-buy” rating to an “outperform” rating in a report on Friday, July 27th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $335.00 target price on the stock in a report on Monday, July 30th. Argus upped their target price on shares of Roper Technologies from $295.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, Cowen reaffirmed a “buy” rating and issued a $330.00 target price on shares of Roper Technologies in a report on Tuesday, July 31st. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $313.50.
Roper Technologies (NYSE:ROP) last released its quarterly earnings results on Thursday, July 26th. The industrial products company reported $2.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.70 by $0.19. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Roper Technologies had a net margin of 21.99% and a return on equity of 15.81%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.24 EPS. equities analysts forecast that Roper Technologies Inc will post 11.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 23rd. Shareholders of record on Monday, July 9th were issued a $0.4125 dividend. The ex-dividend date was Friday, July 6th. This represents a $1.65 annualized dividend and a yield of 0.56%. Roper Technologies’s dividend payout ratio is currently 17.52%.
In other Roper Technologies news, VP Jason Conley sold 5,000 shares of the stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $299.78, for a total value of $1,498,900.00. Following the transaction, the vice president now directly owns 19,205 shares of the company’s stock, valued at approximately $5,757,274.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher Wright sold 1,250 shares of the stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $286.97, for a total transaction of $358,712.50. Following the completion of the transaction, the director now directly owns 63,300 shares in the company, valued at $18,165,201. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,250 shares of company stock worth $2,751,193. Insiders own 2.30% of the company’s stock.
About Roper Technologies
Roper Technologies, Inc designs and develops software, and engineered products and solutions. It operates in four segments: RF Technology; Medical & Scientific Imaging; Industrial Technology; and Energy Systems & Controls. The company offers radio frequency identification (RFID) communication technology and software solutions, including application management software, software-as-a-service applications, card systems/integrated security solutions, toll and traffic systems, RFID card readers, and metering and remote monitoring products.
Recommended Story: How to Invest in Growth Stocks
Receive News & Ratings for Roper Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roper Technologies and related companies with MarketBeat.com's FREE daily email newsletter.