Bahl & Gaynor Inc. Lowers Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Bahl & Gaynor Inc. lessened its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 19,673 shares of the industrial products company’s stock after selling 132 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Roper Technologies were worth $11,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of ROP. Norges Bank purchased a new position in Roper Technologies during the 4th quarter worth $756,176,000. First Trust Advisors LP raised its holdings in Roper Technologies by 149.7% during the fourth quarter. First Trust Advisors LP now owns 366,981 shares of the industrial products company’s stock worth $200,067,000 after purchasing an additional 220,006 shares in the last quarter. Corient Private Wealth LLC lifted its position in Roper Technologies by 32.8% in the fourth quarter. Corient Private Wealth LLC now owns 858,949 shares of the industrial products company’s stock valued at $468,273,000 after purchasing an additional 211,967 shares during the period. Wellington Management Group LLP boosted its holdings in Roper Technologies by 134.5% in the 4th quarter. Wellington Management Group LLP now owns 272,763 shares of the industrial products company’s stock valued at $148,702,000 after purchasing an additional 156,468 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Roper Technologies by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock worth $5,648,796,000 after purchasing an additional 125,387 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Trading Down 0.5 %

Shares of ROP opened at $549.84 on Thursday. Roper Technologies, Inc. has a 1-year low of $474.46 and a 1-year high of $579.10. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a 50 day simple moving average of $548.26 and a 200-day simple moving average of $544.90. The stock has a market cap of $58.94 billion, a price-to-earnings ratio of 39.90, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. Equities analysts forecast that Roper Technologies, Inc. will post 18.16 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ROP. Robert W. Baird upgraded Roper Technologies from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $617.00 to $635.00 in a research note on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of Roper Technologies from $674.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Barclays increased their price target on shares of Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Truist Financial restated a “buy” rating and set a $660.00 target price on shares of Roper Technologies in a research report on Tuesday, August 27th. Finally, Oppenheimer reduced their price target on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $616.00.

Insider Activity

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the business’s stock in a transaction dated 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 owns 5,909 shares of the company’s stock, valued at $3,251,959.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Robert D. Johnson sold 140 shares of Roper Technologies stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $550.34, for a total value of $77,047.60. Following the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Conley sold 3,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total transaction of $1,970,570.00. Following the sale, the chief financial officer now directly owns 33,685 shares of the company’s stock, valued at approximately $18,965,328.70. The disclosure for this sale can be found here. Corporate insiders own 0.87% of the company’s stock.

About Roper Technologies

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.