Newfound Research LLC reduced its position in shares of Roper Technologies, Inc. (NYSE:ROP – Get Rating) by 26.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241 shares of the industrial products company’s stock after selling 85 shares during the period. Newfound Research LLC’s holdings in Roper Technologies were worth $95,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of ROP. Norges Bank acquired a new position in shares of Roper Technologies during the fourth quarter worth about $438,274,000. Durable Capital Partners LP raised its holdings in Roper Technologies by 51.3% during the first quarter. Durable Capital Partners LP now owns 1,395,525 shares of the industrial products company’s stock worth $659,009,000 after acquiring an additional 473,168 shares in the last quarter. Flossbach Von Storch AG raised its holdings in Roper Technologies by 21.3% during the first quarter. Flossbach Von Storch AG now owns 1,397,519 shares of the industrial products company’s stock worth $659,950,000 after acquiring an additional 245,342 shares in the last quarter. American Century Companies Inc. raised its holdings in Roper Technologies by 25.7% during the first quarter. American Century Companies Inc. now owns 914,663 shares of the industrial products company’s stock worth $431,932,000 after acquiring an additional 187,039 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Roper Technologies by 143.5% during the first quarter. Prudential Financial Inc. now owns 266,290 shares of the industrial products company’s stock worth $125,750,000 after acquiring an additional 156,910 shares in the last quarter. 92.92% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on ROP. StockNews.com lowered Roper Technologies from a “buy” rating to a “hold” rating in a report on Friday, June 10th. Robert W. Baird dropped their price objective on Roper Technologies from $480.00 to $460.00 in a research note on Tuesday, July 26th. Sanford C. Bernstein initiated coverage on Roper Technologies in a research note on Tuesday, August 16th. They issued a “market perform” rating and a $490.00 price objective on the stock. Cowen dropped their price objective on Roper Technologies from $545.00 to $500.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 26th. Finally, Oppenheimer set a $500.00 price objective on Roper Technologies in a research note on Monday, June 20th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $492.90.
Roper Technologies Stock Performance
Roper Technologies (NYSE:ROP – Get Rating) last posted its earnings results on Friday, July 22nd. The industrial products company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.83 by $0.12. Roper Technologies had a return on equity of 12.83% and a net margin of 49.32%. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the business earned $3.76 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts forecast that Roper Technologies, Inc. will post 13.6 EPS for the current year.
Roper Technologies Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, October 6th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, October 5th. Roper Technologies’s dividend payout ratio is currently 9.23%.
Roper Technologies Profile
Roper Technologies, Inc designs and develops software, and engineered products and solutions. The company offers management, campus solutions, diagnostic and laboratory information management, enterprise management, information solutions, transportation management, financial and compliance management, and cloud-based financial analytics and performance management software; cloud-based software to the property and casualty insurance industry; and software, services, and technologies for foodservice operations.
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