Montecito Bank & Trust Reduces Stake in Roper Technologies, Inc. (NYSE:ROP)

Montecito Bank & Trust lowered its holdings in Roper Technologies, Inc. (NYSE:ROP) by 23.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 820 shares of the industrial products company’s stock after selling 245 shares during the quarter. Montecito Bank & Trust’s holdings in Roper Technologies were worth $460,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ROP. Norges Bank purchased a new position in shares of Roper Technologies in the 4th quarter valued at about $756,176,000. Mackenzie Financial Corp increased its holdings in shares of Roper Technologies by 45.6% in the 4th quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock valued at $488,968,000 after acquiring an additional 280,873 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Roper Technologies by 149.7% in the 4th quarter. First Trust Advisors LP now owns 366,981 shares of the industrial products company’s stock valued at $200,067,000 after acquiring an additional 220,006 shares during the last quarter. Corient Private Wealth LLC increased its holdings in shares of Roper Technologies by 32.8% in the 4th quarter. Corient Private Wealth LLC now owns 858,949 shares of the industrial products company’s stock valued at $468,273,000 after acquiring an additional 211,967 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new position in Roper Technologies during the 3rd quarter worth approximately $82,379,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank of Canada dropped their price target 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. Barclays raised their price target on Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Oppenheimer restated an “outperform” rating and set a $650.00 price target on shares of Roper Technologies in a research note on Monday, April 29th. Mizuho raised their price target on Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Finally, Wolfe Research cut Roper Technologies from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 13th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Roper Technologies has an average rating of “Moderate Buy” and a consensus price target of $584.82.

Insider Buying and Selling

In related news, Director Christopher Wright sold 300 shares of Roper Technologies stock in a transaction on Friday, June 7th. The stock was sold at an average price of $554.67, for a total transaction of $166,401.00. Following the completion of the transaction, the director now directly owns 35,247 shares of the company’s stock, valued at $19,550,453.49. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.87% of the stock is currently owned by insiders.

Roper Technologies Stock Down 0.2 %

ROP opened at $559.22 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.49 and a quick ratio of 0.45. The business has a 50 day simple moving average of $536.25 and a 200-day simple moving average of $541.56. The stock has a market capitalization of $59.86 billion, a P/E ratio of 40.58, a P/E/G ratio of 2.94 and a beta of 1.01. Roper Technologies, Inc. has a 12 month low of $453.17 and a 12 month high of $565.00.

Roper Technologies (NYSE:ROP) last posted 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. The business had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Roper Technologies had a return on equity of 10.75% and a net margin of 23.21%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm earned $3.90 EPS. On average, equities analysts anticipate that Roper Technologies, Inc. will post 18.15 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, July 8th. This represents a $3.00 annualized dividend and a yield of 0.54%. Roper Technologies’s dividend payout ratio is presently 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.