Roper Technologies, Inc. (NYSE:ROP) Stake Cut by Balentine LLC

Balentine LLC reduced its holdings in Roper Technologies, Inc. (NYSE:ROP) by 86.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 446 shares of the industrial products company’s stock after selling 2,933 shares during the period. Balentine LLC’s holdings in Roper Technologies were worth $251,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new position in Roper Technologies in the 1st quarter worth about $25,000. Rise Advisors LLC acquired a new position in Roper Technologies in the 1st quarter worth about $27,000. OFI Invest Asset Management acquired a new position in Roper Technologies in the 1st quarter worth about $29,000. Versant Capital Management Inc increased its position in Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares during the last quarter. Finally, Covestor Ltd increased its position in Roper Technologies by 50.0% in the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 20 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ROP shares. Barclays upped their target price on Roper Technologies from $611.00 to $625.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group upped their target price on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada increased their price objective on Roper Technologies from $674.00 to $675.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Oppenheimer lowered their price objective on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Baird R W raised Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $616.00.

Insider Activity at Roper Technologies

In related news, Director Robert D. Johnson sold 140 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $550.34, for a total transaction of $77,047.60. Following the completion of the sale, the director now directly owns 5,909 shares of the company’s stock, valued at approximately $3,251,959.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert D. Johnson sold 140 shares of Roper Technologies stock in a transaction on Friday, July 26th. The stock was sold at an average price of $550.34, for a total value of $77,047.60. Following the completion of the sale, the director now directly owns 5,909 shares of the company’s stock, valued at approximately $3,251,959.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Conley sold 3,500 shares of Roper Technologies stock in a transaction on Thursday, June 20th. The shares were 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 directly owns 33,685 shares of the company’s stock, valued at $18,965,328.70. The disclosure for this sale can be found here. Insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

Shares of ROP stock opened at $553.39 on Tuesday. The stock has a 50 day moving average of $548.69 and a two-hundred day moving average of $544.90. The company has a current ratio of 0.53, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38. Roper Technologies, Inc. has a 12 month low of $474.46 and a 12 month high of $579.10. The company has a market capitalization of $59.32 billion, a P/E ratio of 40.16, a P/E/G ratio of 2.87 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.46 by $0.02. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. As a group, equities analysts expect that Roper Technologies, Inc. will post 18.16 EPS for the current year.

Roper Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a yield of 0.54%. Roper Technologies’s dividend payout ratio is 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.