State Treasurer State of Michigan increased its position in Roper Technologies Inc (NYSE:ROP) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,902 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. State Treasurer State of Michigan’s holdings in Roper Technologies were worth $10,226,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in ROP. Norges Bank purchased a new position in shares of Roper Technologies in the fourth quarter valued at $257,192,000. BlackRock Inc. boosted its stake in Roper Technologies by 3.7% during the 4th quarter. BlackRock Inc. now owns 7,181,267 shares of the industrial products company’s stock valued at $1,913,952,000 after acquiring an additional 255,881 shares during the last quarter. Villere ST Denis J & Co. LLC bought a new position in Roper Technologies during the 4th quarter valued at $59,432,000. JPMorgan Chase & Co. boosted its stake in Roper Technologies by 12.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,249,142 shares of the industrial products company’s stock valued at $370,008,000 after acquiring an additional 134,469 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Roper Technologies by 6.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,761,462 shares of the industrial products company’s stock valued at $469,464,000 after acquiring an additional 113,539 shares during the last quarter. Institutional investors and hedge funds own 92.49% of the company’s stock.
Shares of NYSE:ROP traded up $4.51 on Tuesday, reaching $353.41. 3,359 shares of the company’s stock were exchanged, compared to its average volume of 399,545. The stock has a market capitalization of $36.60 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.21. Roper Technologies Inc has a fifty-two week low of $245.59 and a fifty-two week high of $363.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.10.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were issued a dividend of $0.4625 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 0.52%. Roper Technologies’s dividend payout ratio (DPR) is 15.66%.
In related news, Director Wilbur J. Prezzano sold 6,000 shares of the stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $311.61, for a total value of $1,869,660.00. Following the sale, the director now owns 20,206 shares of the company’s stock, valued at approximately $6,296,391.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Crisci sold 4,000 shares of the stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $307.44, for a total transaction of $1,229,760.00. Following the completion of the sale, the chief financial officer now directly owns 41,968 shares in the company, valued at approximately $12,902,641.92. The disclosure for this sale can be found here. Insiders have sold 12,500 shares of company stock worth $3,918,230 over the last three months. 2.30% of the stock is owned by corporate insiders.
A number of research firms have commented on ROP. Stephens increased their price objective on shares of Roper Technologies from $390.00 to $402.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Raymond James increased their price objective on shares of Roper Technologies from $330.00 to $370.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Argus increased their price objective on shares of Roper Technologies from $330.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Barclays increased their price objective on shares of Roper Technologies from $316.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 3rd. Finally, Oppenheimer increased their price objective on shares of Roper Technologies from $335.00 to $375.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Roper Technologies currently has an average rating of “Buy” and a consensus price target of $349.90.
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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.
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