Summit Financial LLC Takes $323,000 Position in Roper Technologies, Inc. (NYSE:ROP)

Summit Financial LLC acquired a new position in shares of Roper Technologies, Inc. (NYSE:ROP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 573 shares of the industrial products company’s stock, valued at approximately $323,000.

A number of other institutional investors have also made changes to their positions in the stock. Symphony Financial Ltd. Co. grew its stake in shares of Roper Technologies by 1.5% during the first quarter. Symphony Financial Ltd. Co. now owns 1,299 shares of the industrial products company’s stock worth $728,000 after purchasing an additional 19 shares during the period. Western Financial Corp CA grew its stake in shares of Roper Technologies by 1.1% during the second quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock worth $973,000 after purchasing an additional 19 shares during the period. AMG National Trust Bank grew its stake in shares of Roper Technologies by 5.1% during the second quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 19 shares during the period. Legacy Private Trust Co. grew its stake in shares of Roper Technologies by 4.4% during the first quarter. Legacy Private Trust Co. now owns 470 shares of the industrial products company’s stock worth $264,000 after purchasing an additional 20 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Roper Technologies by 3.4% during the first quarter. Capital Advisors Ltd. LLC now owns 617 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 20 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Baird R W raised Roper Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 25th. Wolfe Research lowered Roper Technologies from an “outperform” rating to a “peer perform” rating in a report on Thursday, June 13th. Robert W. Baird upgraded Roper Technologies from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $617.00 to $635.00 in a report on Thursday, July 25th. Oppenheimer reduced their target price 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, Jefferies Financial Group lifted their target price on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Roper Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $616.00.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $552.36 on Wednesday. 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 stock’s 50-day moving average is $549.31 and its 200-day moving average is $544.75. The firm has a market cap of $59.21 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth ratio of 2.91 and a beta of 1.02. Roper Technologies, Inc. has a one year low of $474.46 and a one year high of $579.10.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.02. The business had revenue of $1.72 billion for 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%. Equities analysts predict that Roper Technologies, Inc. will post 18.16 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, July 8th. Roper Technologies’s dividend payout ratio is currently 21.77%.

Insider Activity at Roper Technologies

In related 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 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 Roper Technologies news, Director Robert D. Johnson sold 140 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 5,909 shares of the company’s stock, valued at $3,251,959.06. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jason Conley sold 3,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 33,685 shares in the company, valued at approximately $18,965,328.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,940 shares of company stock valued at $2,214,019. 0.87% of the stock is owned by insiders.

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.