Nordea Investment Management AB Grows Position in Roper Technologies, Inc. (NYSE:ROP)

Nordea Investment Management AB lifted its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 14.4% in the second quarter, Holdings Channel reports. The firm owned 750,292 shares of the industrial products company’s stock after purchasing an additional 94,393 shares during the period. Nordea Investment Management AB’s holdings in Roper Technologies were worth $358,730,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC purchased a new stake in Roper Technologies during the first quarter worth approximately $26,000. Manitou Investment Management Ltd. purchased a new stake in Roper Technologies during the 1st quarter worth $29,000. Compass Wealth Management LLC acquired a new stake in Roper Technologies in the 4th quarter valued at $30,000. Fortis Capital Advisors LLC purchased a new position in Roper Technologies in the fourth quarter valued at about $30,000. Finally, Barrett & Company Inc. acquired a new position in shares of Roper Technologies during the first quarter worth about $33,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Wall Street Analysts Forecast Growth

ROP has been the topic of several analyst reports. Robert W. Baird raised their target price on Roper Technologies from $483.00 to $503.00 in a report on Tuesday, July 18th. Barclays upped their target price on shares of Roper Technologies from $550.00 to $560.00 in a research note on Tuesday, August 8th. Oppenheimer boosted their price objective on shares of Roper Technologies from $535.00 to $560.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. StockNews.com started coverage on Roper Technologies in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Argus boosted their price target on Roper Technologies from $490.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $525.80.

Roper Technologies Stock Performance

Shares of Roper Technologies stock traded down $0.82 during trading hours on Friday, reaching $498.60. The company’s stock had a trading volume of 64,735 shares, compared to its average volume of 485,815. Roper Technologies, Inc. has a one year low of $356.21 and a one year high of $504.73. The company’s 50 day simple moving average is $490.34 and its 200 day simple moving average is $462.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.90 and a current ratio of 0.94. The stock has a market cap of $53.21 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02.

Roper Technologies (NYSE:ROP) last issued its earnings results on Friday, July 21st. The industrial products company reported $4.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.99 by $0.13. The firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Roper Technologies had a net margin of 50.21% and a return on equity of 10.61%. Roper Technologies’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company posted $3.95 earnings per share. As a group, analysts expect that Roper Technologies, Inc. will post 16.46 EPS for the current fiscal year.

Roper Technologies Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 24th. Shareholders of record on Monday, July 10th were given a $0.6825 dividend. This represents a $2.73 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, July 7th. Roper Technologies’s dividend payout ratio is presently 10.05%.

Insider Buying and Selling at Roper Technologies

In other news, CFO Jason Conley sold 2,857 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $502.05, for a total transaction of $1,434,356.85. Following the completion of the transaction, the chief financial officer now owns 38,358 shares in the company, valued at $19,257,633.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Roper Technologies news, Director Robert D. Johnson sold 900 shares of Roper Technologies stock in a transaction on Monday, July 24th. The stock was sold at an average price of $495.19, for a total transaction of $445,671.00. Following the sale, the director now owns 5,846 shares of the company’s stock, valued at approximately $2,894,880.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Conley sold 2,857 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $502.05, for a total value of $1,434,356.85. Following the completion of the transaction, the chief financial officer now directly owns 38,358 shares of the company’s stock, valued at approximately $19,257,633.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,200 shares of company stock worth $3,084,399. 0.94% of the stock is owned by insiders.

About Roper Technologies

Roper Technologies, Inc designs and develops software, and technology enabled 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.