Roper Technologies, Inc. (ROP) Upgraded by J P Morgan Chase & Co to Overweight

J P Morgan Chase & Co upgraded shares of Roper Technologies, Inc. (NYSE:ROP) from a neutral rating to an overweight rating in a report issued on Wednesday, MarketBeat.com reports. They currently have $275.00 price objective on the industrial products company’s stock, up from their previous price objective of $223.00.

ROP has been the topic of a number of other research reports. Raymond James Financial, Inc. increased their price objective on Roper Technologies from $253.00 to $268.00 in a report on Wednesday, July 5th. Zacks Investment Research raised Roper Technologies from a hold rating to a buy rating and set a $260.00 price objective on the stock in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a buy rating and set a $248.00 price objective on shares of Roper Technologies in a report on Wednesday, July 12th. Stifel Nicolaus reissued a buy rating and set a $242.00 price objective on shares of Roper Technologies in a report on Friday, July 7th. Finally, BidaskClub cut Roper Technologies from a buy rating to a hold rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $243.08.

Roper Technologies (NYSE:ROP) opened at 246.16 on Wednesday. The firm has a market cap of $25.16 billion, a P/E ratio of 36.86 and a beta of 1.05. Roper Technologies has a 1-year low of $167.50 and a 1-year high of $247.54. The company has a 50-day moving average price of $233.00 and a 200-day moving average price of $224.52.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Monday, July 31st. The industrial products company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.22 by $0.02. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. Roper Technologies had a return on equity of 13.66% and a net margin of 16.44%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.56 EPS. On average, equities research analysts forecast that Roper Technologies will post $9.28 EPS for the current fiscal year.

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In other Roper Technologies news, Director Wilbur J. Prezzano sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $235.80, for a total value of $471,600.00. Following the sale, the director now owns 22,000 shares of the company’s stock, valued at approximately $5,187,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher Wright sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $237.04, for a total value of $118,520.00. Following the completion of the sale, the director now directly owns 64,604 shares in the company, valued at approximately $15,313,732.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,500 shares of company stock worth $2,754,530. Insiders own 2.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Roper Technologies by 0.4% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,419 shares of the industrial products company’s stock valued at $293,000 after acquiring an additional 5 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Roper Technologies by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,580 shares of the industrial products company’s stock valued at $1,755,000 after acquiring an additional 23 shares in the last quarter. Bellwether Investment Group LLC raised its holdings in shares of Roper Technologies by 1.2% in the 2nd quarter. Bellwether Investment Group LLC now owns 2,122 shares of the industrial products company’s stock valued at $491,000 after acquiring an additional 26 shares in the last quarter. Scotia Capital Inc. raised its holdings in shares of Roper Technologies by 1.8% in the 2nd quarter. Scotia Capital Inc. now owns 1,744 shares of the industrial products company’s stock valued at $404,000 after acquiring an additional 30 shares in the last quarter. Finally, Cleararc Capital Inc. raised its holdings in shares of Roper Technologies by 1.4% in the 1st quarter. Cleararc Capital Inc. now owns 2,497 shares of the industrial products company’s stock valued at $516,000 after acquiring an additional 35 shares in the last quarter. 94.18% of the stock is currently owned by hedge funds and other institutional investors.

About Roper Technologies

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