Guardian Capital LP trimmed its holdings in shares of Roper Technologies, Inc. (NYSE:ROP – Get Rating) by 26.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,285 shares of the industrial products company’s stock after selling 1,541 shares during the quarter. Guardian Capital LP’s holdings in Roper Technologies were worth $2,024,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Roper Technologies by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,740,029 shares of the industrial products company’s stock worth $4,127,304,000 after purchasing an additional 57,473 shares during the period. State Street Corp boosted its position in shares of Roper Technologies by 1.7% in the fourth quarter. State Street Corp now owns 4,330,296 shares of the industrial products company’s stock worth $2,129,899,000 after purchasing an additional 72,788 shares during the period. Principal Financial Group Inc. boosted its position in shares of Roper Technologies by 7.0% in the first quarter. Principal Financial Group Inc. now owns 2,337,665 shares of the industrial products company’s stock worth $1,103,915,000 after purchasing an additional 152,329 shares during the period. Flossbach Von Storch AG boosted its position in shares of Roper Technologies by 21.3% in the first quarter. Flossbach Von Storch AG now owns 1,397,519 shares of the industrial products company’s stock worth $659,950,000 after purchasing an additional 245,342 shares during the period. Finally, Durable Capital Partners LP boosted its position in shares of Roper Technologies by 51.3% in the first quarter. Durable Capital Partners LP now owns 1,395,525 shares of the industrial products company’s stock worth $659,009,000 after purchasing an additional 473,168 shares during the period. 92.92% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on ROP. Sanford C. Bernstein began coverage on shares of Roper Technologies in a research report on Tuesday, August 16th. They issued a “market perform” rating and a $490.00 price target for the company. Robert W. Baird dropped their price target on shares of Roper Technologies from $480.00 to $460.00 in a research report on Tuesday, July 26th. StockNews.com lowered shares of Roper Technologies from a “buy” rating to a “hold” rating in a research report on Friday, June 10th. Barclays dropped their target price on shares of Roper Technologies from $500.00 to $480.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Finally, Oppenheimer set a $500.00 target price on shares of Roper Technologies in a research report on Monday, June 20th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $492.90.
Roper Technologies Price Performance
Roper Technologies (NYSE:ROP – Get Rating) last released its quarterly earnings results on Friday, July 22nd. The industrial products company reported $3.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.83 by $0.12. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.54 billion. Roper Technologies had a net margin of 49.32% and a return on equity of 12.83%. Roper Technologies’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.76 earnings per share. Sell-side analysts forecast that Roper Technologies, Inc. will post 13.6 EPS for the current fiscal year.
Roper Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Friday, July 8th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Thursday, July 7th. Roper Technologies’s dividend payout ratio is currently 9.23%.
Roper Technologies Company Profile
Roper Technologies, Inc designs and develops software, and engineered products and solutions. The company offers management, campus solutions, diagnostic and laboratory information management, enterprise management, 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.
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