Red Door Wealth Management LLC Takes Position in Roper Technologies, Inc. (NYSE:ROP)

Red Door Wealth Management LLC bought a new stake in shares of Roper Technologies, Inc. (NYSE:ROP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,834 shares of the industrial products company’s stock, valued at approximately $3,833,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in Roper Technologies during the 1st quarter valued at $27,000. Independence Bank of Kentucky purchased a new stake in Roper Technologies during the 4th quarter valued at $31,000. Wetzel Investment Advisors Inc. purchased a new stake in Roper Technologies during the 4th quarter valued at $31,000. VisionPoint Advisory Group LLC purchased a new stake in Roper Technologies during the 4th quarter valued at $32,000. Finally, Grayhawk Investment Strategies Inc. purchased a new stake in Roper Technologies during the 4th quarter valued at $38,000. 93.31% of the stock is currently owned by institutional investors.

Insider Activity at Roper Technologies

In related news, Director Christopher Wright sold 300 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $554.67, for a total transaction of $166,401.00. Following the sale, the director now owns 35,247 shares of the company’s stock, valued at $19,550,453.49. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Roper Technologies news, CFO Jason Conley sold 3,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $563.02, for a total value of $1,970,570.00. Following the completion of the sale, the chief financial officer now owns 33,685 shares of the company’s stock, valued at $18,965,328.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Christopher Wright sold 300 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $554.67, for a total value of $166,401.00. Following the sale, the director now owns 35,247 shares in the company, valued at approximately $19,550,453.49. The disclosure for this sale can be found here. 0.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ROP has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and set a $650.00 price target on shares of Roper Technologies in a report on Monday, April 29th. Barclays increased their target price on Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Mizuho increased their target price on Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Royal Bank of Canada reduced their target price on Roper Technologies from $696.00 to $680.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Wolfe Research lowered Roper Technologies from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 13th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average target price of $584.82.

Roper Technologies Stock Up 0.3 %

Shares of Roper Technologies stock traded up $1.60 during trading on Friday, hitting $563.66. 742,921 shares of the stock traded hands, compared to its average volume of 474,496. The firm has a market cap of $60.33 billion, a P/E ratio of 40.90, a price-to-earnings-growth ratio of 2.95 and a beta of 1.01. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 52-week low of $470.27 and a 52-week high of $569.49. The stock’s fifty day simple moving average is $540.08 and its 200 day simple moving average is $542.60.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Friday, April 26th. The industrial products company reported $4.41 EPS for the quarter, beating the consensus estimate of $4.34 by $0.07. Roper Technologies had a return on equity of 10.75% and a net margin of 23.21%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm posted $3.90 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities analysts predict that Roper Technologies, Inc. will post 18.17 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, July 8th. Roper Technologies’s payout ratio is currently 21.77%.

Roper Technologies Company Profile

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. It operates through three segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment offers management, campus solutions, diagnostic and laboratory information management, enterprise software and 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.