Teachers Retirement System of The State of Kentucky lessened its position in Roper Technologies, Inc. (NYSE:ROP – Get Rating) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,667 shares of the industrial products company’s stock after selling 333 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Roper Technologies were worth $3,621,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Verition Fund Management LLC acquired a new stake in shares of Roper Technologies in the first quarter valued at about $347,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Roper Technologies during the first quarter valued at approximately $5,529,000. Toroso Investments LLC lifted its holdings in shares of Roper Technologies by 14.1% in the first quarter. Toroso Investments LLC now owns 3,690 shares of the industrial products company’s stock valued at $1,743,000 after purchasing an additional 456 shares in the last quarter. Van Hulzen Asset Management LLC lifted its holdings in shares of Roper Technologies by 6.1% in the first quarter. Van Hulzen Asset Management LLC now owns 3,776 shares of the industrial products company’s stock valued at $1,783,000 after purchasing an additional 216 shares in the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in Roper Technologies by 3.6% during the first quarter. Chicago Partners Investment Group LLC now owns 2,962 shares of the industrial products company’s stock worth $1,219,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on ROP shares. StockNews.com lowered Roper Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Oppenheimer set a $500.00 price target on Roper Technologies in a research report on Monday, June 20th. Robert W. Baird reduced their target price on Roper Technologies from $480.00 to $460.00 in a research report on Tuesday, July 26th. Sanford C. Bernstein began coverage on Roper Technologies in a research report on Tuesday, August 16th. They set a “market perform” rating and a $490.00 target price for the company. Finally, The Goldman Sachs Group reduced their target price on Roper Technologies from $540.00 to $412.00 and set a “neutral” rating for the company in a research report on Thursday, June 23rd. 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $492.90.
Roper Technologies Stock Performance
Roper Technologies (NYSE:ROP – Get Rating) last issued its earnings results on Friday, July 22nd. The industrial products company reported $3.95 EPS for the quarter, beating the consensus estimate of $3.83 by $0.12. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.54 billion. Roper Technologies had a return on equity of 12.83% and a net margin of 49.32%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $3.76 EPS. On average, equities research analysts predict that Roper Technologies, Inc. will post 13.6 earnings per share for the current fiscal year.
Roper Technologies Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, October 6th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.65%. Roper Technologies’s payout ratio is 9.23%.
Roper Technologies 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.
- Get a free copy of the StockNews.com research report on Roper Technologies (ROP)
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