Retirement Systems of Alabama Cuts Position in Roper Technologies, Inc. (NYSE:ROP)

Retirement Systems of Alabama lowered its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,543 shares of the industrial products company’s stock after selling 586 shares during the period. Retirement Systems of Alabama’s holdings in Roper Technologies were worth $12,835,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Gitterman Wealth Management LLC purchased a new stake in shares of Roper Technologies during the fourth quarter valued at approximately $233,000. Paradigm Financial Partners LLC raised its stake in shares of Roper Technologies by 2.0% during the fourth quarter. Paradigm Financial Partners LLC now owns 7,027 shares of the industrial products company’s stock valued at $3,831,000 after purchasing an additional 136 shares during the period. PGGM Investments raised its stake in shares of Roper Technologies by 101.0% during the fourth quarter. PGGM Investments now owns 8,649 shares of the industrial products company’s stock valued at $4,715,000 after purchasing an additional 4,345 shares during the period. Fulton Breakefield Broenniman LLC raised its stake in shares of Roper Technologies by 0.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 38,862 shares of the industrial products company’s stock valued at $21,186,000 after purchasing an additional 225 shares during the period. Finally, Headlands Technologies LLC raised its stake in shares of Roper Technologies by 3.2% during the fourth quarter. Headlands Technologies LLC now owns 3,410 shares of the industrial products company’s stock valued at $1,859,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ROP shares. Oppenheimer reissued an “outperform” rating and set a $650.00 price target on shares of Roper Technologies in a research report on Monday. Royal Bank of Canada decreased their price target on shares of Roper Technologies from $696.00 to $680.00 and set an “outperform” rating for the company in a research report on Monday. Raymond James raised their price target on shares of Roper Technologies from $572.00 to $620.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 2nd. Mizuho raised their price target on shares of Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Wells Fargo & Company raised their price target on shares of Roper Technologies from $560.00 to $615.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roper Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $579.83.

Roper Technologies Stock Up 0.6 %

ROP stock opened at $514.76 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.49 and a quick ratio of 0.45. Roper Technologies, Inc. has a 1-year low of $441.06 and a 1-year high of $565.00. The firm has a fifty day moving average price of $543.08 and a two-hundred day moving average price of $533.88. The firm has a market cap of $55.10 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 2.68 and a beta of 1.00.

Roper Technologies (NYSE:ROP) last released its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.07. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm earned $3.90 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. Research analysts predict that Roper Technologies, Inc. will post 18.16 EPS for the current year.

Roper Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Friday, April 5th were given a dividend of $0.75 per share. The ex-dividend date was Thursday, April 4th. This represents a $3.00 annualized dividend and a dividend yield of 0.58%. Roper Technologies’s dividend payout ratio is currently 21.77%.

Insider Transactions at Roper Technologies

In other news, Director Christopher Wright sold 200 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 35,547 shares in the company, valued at $19,540,541.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.94% of the company’s stock.

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.