Weitz Investment Management Inc. bought a new stake in Roper Technologies, Inc. (NYSE:ROP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 61,000 shares of the industrial products company’s stock, valued at approximately $28,682,000. Roper Technologies comprises approximately 1.2% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 29th biggest position. Weitz Investment Management Inc. owned 0.06% of Roper Technologies as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Roper Technologies by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,850,531 shares of the industrial products company’s stock valued at $5,183,133,000 after buying an additional 65,220 shares during the period. BlackRock Inc. increased its stake in shares of Roper Technologies by 5.3% in the first quarter. BlackRock Inc. now owns 7,710,577 shares of the industrial products company’s stock valued at $3,109,983,000 after buying an additional 386,659 shares during the period. Morgan Stanley increased its stake in shares of Roper Technologies by 62.2% in the first quarter. Morgan Stanley now owns 2,992,739 shares of the industrial products company’s stock valued at $1,207,092,000 after buying an additional 1,147,336 shares during the period. Principal Financial Group Inc. increased its stake in shares of Roper Technologies by 7.1% in the second quarter. Principal Financial Group Inc. now owns 1,987,161 shares of the industrial products company’s stock valued at $934,363,000 after buying an additional 131,170 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Roper Technologies by 8.1% in the second quarter. Alliancebernstein L.P. now owns 1,851,587 shares of the industrial products company’s stock valued at $870,616,000 after buying an additional 139,486 shares during the period. Hedge funds and other institutional investors own 91.75% of the company’s stock.
In other Roper Technologies news, Director Robert D. Johnson sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $483.35, for a total value of $241,675.00. Following the completion of the sale, the director now owns 7,269 shares of the company’s stock, valued at $3,513,471.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.80% of the company’s stock.
Roper Technologies (NYSE:ROP) last announced its quarterly earnings data on Thursday, July 22nd. The industrial products company reported $3.76 EPS for the quarter, beating the Zacks’ consensus estimate of $3.67 by $0.09. Roper Technologies had a return on equity of 14.07% and a net margin of 17.80%. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same quarter last year, the firm posted $2.94 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, research analysts forecast that Roper Technologies, Inc. will post 15.19 earnings per share for the current fiscal year.
Several brokerages have recently weighed in on ROP. Raymond James reissued a “buy” rating and issued a $550.00 price target on shares of Roper Technologies in a research note on Friday, July 23rd. Argus reissued a “buy” rating and issued a $488.87 price target (down previously from $490.00) on shares of Roper Technologies in a research note on Tuesday, July 27th. They noted that the move was a valuation call. Wells Fargo & Company raised their target price on Roper Technologies from $490.00 to $540.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 21st. Oppenheimer initiated coverage on Roper Technologies in a research note on Friday, July 23rd. They set a “buy” rating and a $560.00 target price for the company. Finally, Royal Bank of Canada raised their target price on Roper Technologies from $499.00 to $556.00 and gave the stock an “outperform” rating in a research note on Monday, July 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $497.29.
Roper Technologies Profile
Roper Technologies, Inc is diversified technology company, which engages in the provision of engineered products and solutions for the global niche markets. It operates through the following segments: Application Software, Network Software and Systems, Measurement and Analytical Solutions, and Process Technologies.
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