DNB Asset Management AS Raises Stock Position in Roper Technologies Inc (NYSE:ROP)

DNB Asset Management AS lifted its stake in shares of Roper Technologies Inc (NYSE:ROP) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,605 shares of the industrial products company’s stock after buying an additional 1,867 shares during the quarter. DNB Asset Management AS’s holdings in Roper Technologies were worth $8,777,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Two Sigma Advisers LP purchased a new stake in shares of Roper Technologies during the 1st quarter worth approximately $3,929,000. AXA raised its position in Roper Technologies by 2.0% in the 1st quarter. AXA now owns 221,151 shares of the industrial products company’s stock valued at $68,956,000 after purchasing an additional 4,244 shares during the last quarter. Meeder Asset Management Inc. raised its position in Roper Technologies by 78.3% in the 1st quarter. Meeder Asset Management Inc. now owns 526 shares of the industrial products company’s stock valued at $164,000 after purchasing an additional 231 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Roper Technologies by 1.2% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 116,659 shares of the industrial products company’s stock valued at $41,324,000 after purchasing an additional 1,406 shares during the last quarter. Finally, Financial Counselors Inc. raised its position in Roper Technologies by 15.9% in the 1st quarter. Financial Counselors Inc. now owns 5,531 shares of the industrial products company’s stock valued at $1,725,000 after purchasing an additional 760 shares during the last quarter. Institutional investors and hedge funds own 92.33% of the company’s stock.

ROP has been the subject of a number of analyst reports. Argus cut their price objective on shares of Roper Technologies from $410.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, April 29th. Barclays upped their price objective on shares of Roper Technologies from $340.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Oppenheimer restated a “market perform” rating on shares of Roper Technologies in a research report on Friday, June 12th. Royal Bank of Canada restated a “buy” rating on shares of Roper Technologies in a research report on Thursday, May 28th. Finally, Wells Fargo & Co cut their price objective on shares of Roper Technologies from $400.00 to $390.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $386.44.

In related news, Director John F. Fort III sold 4,540 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $372.43, for a total value of $1,690,832.20. Following the sale, the director now directly owns 14,340 shares of the company’s stock, valued at approximately $5,340,646.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Wilbur J. Prezzano sold 3,500 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $355.65, for a total transaction of $1,244,775.00. Following the completion of the sale, the director now directly owns 16,880 shares in the company, valued at $6,003,372. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,040 shares of company stock worth $4,415,607. 1.90% of the stock is owned by corporate insiders.

NYSE:ROP opened at $397.41 on Thursday. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.49. Roper Technologies Inc has a fifty-two week low of $240.00 and a fifty-two week high of $410.41. The stock has a market cap of $40.76 billion, a PE ratio of 25.51, a price-to-earnings-growth ratio of 3.06 and a beta of 1.06. The firm’s fifty day simple moving average is $389.45 and its 200-day simple moving average is $358.06.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $3.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.91 by $0.14. Roper Technologies had a net margin of 30.17% and a return on equity of 14.94%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same period in the prior year, the company posted $3.30 EPS. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts anticipate that Roper Technologies Inc will post 12.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Wednesday, July 8th will be paid a $0.5125 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a $2.05 dividend on an annualized basis and a yield of 0.52%. Roper Technologies’s payout ratio is 15.71%.

Roper Technologies Profile

Roper Technologies, Inc designs and develops software, and engineered products and solutions worldwide. The company operates in four segments: Application Software; Network Software & Systems; Measurement & Analytical Solutions; and Process Technologies. It offers application management software, software-as-a-service applications, card systems/integrated security, toll and traffic systems, radio frequency identification card readers, and metering and remote monitoring products.

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Institutional Ownership by Quarter for Roper Technologies (NYSE:ROP)

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