Handelsbanken Fonder AB Increases Position in Roper Technologies, Inc. (NYSE:ROP)

Handelsbanken Fonder AB lifted its holdings in Roper Technologies, Inc. (NYSE:ROP) by 29.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,596 shares of the industrial products company’s stock after buying an additional 7,689 shares during the period. Handelsbanken Fonder AB’s holdings in Roper Technologies were worth $18,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROP. OFI Invest Asset Management purchased a new position in shares of Roper Technologies in the 3rd quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in shares of Roper Technologies in the 3rd quarter worth approximately $27,000. Independence Bank of Kentucky purchased a new position in Roper Technologies in the fourth quarter valued at approximately $31,000. Wetzel Investment Advisors Inc. purchased a new position in Roper Technologies in the fourth quarter valued at approximately $31,000. Finally, Lee Financial Co purchased a new position in Roper Technologies in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ROP. Barclays increased their target price on Roper Technologies from $596.00 to $600.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Raymond James upped their price target on shares of Roper Technologies from $572.00 to $620.00 and gave the company a “strong-buy” rating in a research report on Friday, February 2nd. Wells Fargo & Company increased their target price on shares of Roper Technologies from $560.00 to $615.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. TD Cowen lowered shares of Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 target price for the company. in a report on Thursday, January 4th. Finally, Mizuho raised their price objective on shares of Roper Technologies from $500.00 to $525.00 and gave the stock a “neutral” rating in a report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $574.58.

Roper Technologies Price Performance

Shares of NYSE ROP opened at $539.11 on Tuesday. Roper Technologies, Inc. has a fifty-two week low of $430.03 and a fifty-two week high of $565.00. The company has a 50 day simple moving average of $545.57 and a two-hundred day simple moving average of $532.77. The company has a market capitalization of $57.70 billion, a price-to-earnings ratio of 41.82, a P/E/G ratio of 2.82 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.46 and a current ratio of 0.50.

Roper Technologies (NYSE:ROP) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $4.34 by $0.03. Roper Technologies had a net margin of 22.41% and a return on equity of 10.63%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm earned $3.92 earnings per share. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. Analysts expect that Roper Technologies, Inc. will post 18.07 EPS for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Friday, April 5th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Thursday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is currently 23.27%.

Insider Activity at Roper Technologies

In related news, Director Christopher Wright sold 200 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $549.71, for a total transaction of $109,942.00. Following the completion of the sale, the director now owns 35,547 shares of the company’s stock, valued at $19,540,541.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. 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.