DnB Asset Management AS lessened its position in Roper Technologies, Inc. (NYSE:ROP – Get Rating) by 33.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 20,119 shares of the industrial products company’s stock after selling 10,138 shares during the quarter. DnB Asset Management AS’s holdings in Roper Technologies were worth $7,940,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in ROP. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in shares of Roper Technologies in the first quarter valued at approximately $28,000. Curi Wealth Management LLC lifted its position in shares of Roper Technologies by 1,625.0% in the first quarter. Curi Wealth Management LLC now owns 69 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 65 shares in the last quarter. Kempen Capital Management N.V. purchased a new position in Roper Technologies during the first quarter worth approximately $43,000. Quent Capital LLC purchased a new position in Roper Technologies during the fourth quarter worth approximately $44,000. Finally, Jones Financial Companies Lllp lifted its position in Roper Technologies by 48.8% during the first quarter. Jones Financial Companies Lllp now owns 189 shares of the industrial products company’s stock worth $89,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 92.92% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently commented on ROP. Robert W. Baird reduced their price objective on Roper Technologies from $480.00 to $460.00 in a research report on Tuesday, July 26th. TheStreet downgraded Roper Technologies from a “b” rating to a “c+” rating in a research report on Friday, July 22nd. StockNews.com cut Roper Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Cowen cut their target price on Roper Technologies from $545.00 to $500.00 and set an “outperform” rating for the company in a research note on Tuesday, July 26th. Finally, Oppenheimer set a $500.00 target price on Roper Technologies in a research note on Monday, June 20th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $492.90.
Roper Technologies Trading Down 0.5 %
Roper Technologies (NYSE:ROP – Get Rating) last released its earnings results on Friday, July 22nd. The industrial products company reported $3.95 EPS for the quarter, topping the consensus estimate of $3.83 by $0.12. Roper Technologies had a return on equity of 12.83% and a net margin of 49.32%. The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the firm posted $3.76 EPS. Roper Technologies’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Roper Technologies, Inc. will post 13.6 earnings per share for the current year.
Roper Technologies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, October 6th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.65%. Roper Technologies’s payout ratio is 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.
- Get a free copy of the StockNews.com research report on Roper Technologies (ROP)
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