Lake Street Advisors Group LLC Raises Stake in Roper Technologies, Inc. (NYSE:ROP)

Lake Street Advisors Group LLC lifted its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 146.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,709 shares of the industrial products company’s stock after acquiring an additional 1,610 shares during the period. Lake Street Advisors Group LLC’s holdings in Roper Technologies were worth $1,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ROP. Vanguard Group Inc. raised its stake in Roper Technologies by 1.3% during the first quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock worth $5,648,796,000 after purchasing an additional 125,387 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Roper Technologies by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 2,581,710 shares of the industrial products company’s stock worth $1,447,927,000 after buying an additional 61,756 shares during the last quarter. Norges Bank purchased a new stake in shares of Roper Technologies during the 4th quarter valued at approximately $756,176,000. Bank of New York Mellon Corp lifted its holdings in Roper Technologies by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 1,314,972 shares of the industrial products company’s stock valued at $737,489,000 after acquiring an additional 68,957 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Roper Technologies by 45.6% in the fourth quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock worth $488,968,000 after acquiring an additional 280,873 shares during the period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Stock Down 7.4 %

ROP stock traded down $42.30 during midday trading on Wednesday, hitting $531.97. The company’s stock had a trading volume of 2,057,166 shares, compared to its average volume of 520,060. The firm has a 50-day simple moving average of $553.54 and a 200-day simple moving average of $545.33. The firm has a market capitalization of $56.94 billion, a P/E ratio of 38.60, a PEG ratio of 3.02 and a beta of 1.02. The company has a quick ratio of 0.45, a current ratio of 0.49 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 52-week low of $474.46 and a 52-week high of $579.10.

Roper Technologies (NYSE:ROP) last released its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $0.07. Roper Technologies had a return on equity of 10.75% and a net margin of 23.21%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business posted $3.90 earnings per share. Roper Technologies’s revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts forecast that Roper Technologies, Inc. will post 18.17 EPS for the current year.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 8th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.56%. Roper Technologies’s payout ratio is 21.77%.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Christopher Wright sold 300 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were 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 owns 35,247 shares in the company, valued at approximately $19,550,453.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Jason Conley sold 3,500 shares of the stock in a transaction dated 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 owns 33,685 shares in the company, valued at approximately $18,965,328.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher Wright sold 300 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $554.67, for a total value of $166,401.00. Following the sale, the director now owns 35,247 shares of the company’s stock, valued at approximately $19,550,453.49. The disclosure for this sale can be found here. 0.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ROP has been the topic of a number of research analyst reports. Mizuho lifted their target price on Roper Technologies from $525.00 to $530.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $650.00 target price on shares of Roper Technologies in a research report on Monday, April 29th. Royal Bank of Canada lowered their target price on shares of Roper Technologies from $696.00 to $680.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Barclays boosted their price target 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. Finally, Wolfe Research cut shares of 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, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Roper Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $597.78.

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.