Roper Technologies, Inc. (NYSE:ROP) Position Cut by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in Roper Technologies, Inc. (NYSE:ROP) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,465 shares of the industrial products company’s stock after selling 255 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Roper Technologies were worth $4,771,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ROP. Vanguard Group Inc. lifted its stake in shares of Roper Technologies by 1.3% in 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 acquiring an additional 125,387 shares during the period. Principal Financial Group Inc. lifted its holdings in Roper Technologies by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock valued at $1,512,813,000 after acquiring an additional 102,199 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Roper Technologies by 3.1% during the second quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock valued at $630,749,000 after purchasing an additional 33,544 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Roper Technologies by 7.6% during the 2nd quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock valued at $515,467,000 after acquiring an additional 64,565 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Roper Technologies by 4.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 805,757 shares of the industrial products company’s stock worth $451,901,000 after acquiring an additional 33,780 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Stock Performance

NYSE ROP opened at $551.37 on Thursday. The company has a market cap of $59.11 billion, a P/E ratio of 40.01, a PEG ratio of 2.90 and a beta of 1.02. The company has a fifty day simple moving average of $545.95 and a 200 day simple moving average of $545.60. Roper Technologies, Inc. has a 12-month low of $474.46 and a 12-month high of $579.10. 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 (NYSE:ROP) last issued 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 analysts’ expectations of $1.72 billion. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. Sell-side analysts predict that Roper Technologies, Inc. will post 18.16 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Tuesday, October 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, October 8th. Roper Technologies’s dividend payout ratio is presently 21.77%.

Insider Activity

In other Roper Technologies 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

ROP has been the subject of a number of recent analyst reports. Wolfe Research lowered shares of Roper Technologies from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 13th. Barclays upped their price objective on shares of Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group upped their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada boosted their target price on Roper Technologies from $674.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, Truist Financial reissued a “buy” rating and issued a $660.00 price target on shares of Roper Technologies in a research note on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $616.00.

Roper Technologies 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.