26,462 Shares in Roper Technologies, Inc. $ROP Acquired by Rakuten Investment Management Inc.

Key Points

• Rakuten Investment Management opened a new Roper Technologies position, acquiring 26,462 shares worth approximately $9.25 million in the third quarter. Institutional investors collectively own 93.31% of the stock.
• Roper reported quarterly earnings of $5.89 per share, beating estimates of $5.79, while revenue rose 7.7% year over year to $2.17 billion. The company also raised its quarterly dividend from $0.91 to $1.00 per share.
• Analysts’ consensus rating is Hold, with an average price target of $469.41. Company insiders sold 17,500 shares worth about $7.78 million over the past 90 days.

Rakuten Investment Management Inc. acquired a new position in Roper Technologies, Inc. (NASDAQ:ROP - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,462 shares of the industrial products company's stock, valued at approximately $9,247,000.

Other hedge funds have also bought and sold shares of the company. Edmond DE Rothschild Holding S.A. bought a new stake in Roper Technologies during the 2nd quarter valued at $27,000. Global Assets Advisory LLC purchased a new stake in shares of Roper Technologies during the first quarter worth $36,000. BOK Financial Private Wealth Inc. bought a new position in shares of Roper Technologies in the second quarter worth $36,000. Salomon & Ludwin LLC bought a new position in shares of Roper Technologies in the third quarter worth $37,000. Finally, CoreCap Advisors LLC grew its position in shares of Roper Technologies by 114.8% in the second quarter. CoreCap Advisors LLC now owns 131 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 70 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Stock Down 0.3%

Shares of NASDAQ:ROP opened at $490.96 on Friday. The firm has a fifty day moving average price of $397.99 and a two-hundred day moving average price of $366.83. The company has a market cap of $48.62 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 2.44 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.43 and a quick ratio of 0.39. Roper Technologies, Inc. has a one year low of $305.96 and a one year high of $507.24.

Roper Technologies (NASDAQ:ROP - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The industrial products company reported $5.89 earnings per share for the quarter, topping the consensus estimate of $5.79 by $0.10. Roper Technologies had a net margin of 30.71% and a return on equity of 11.64%. The firm had revenue of $2.17 billion for the quarter. During the same period in the previous year, the company posted $5.14 EPS. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts anticipate that Roper Technologies, Inc. will post 22.38 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 19th. Investors of record on Monday, January 4th will be given a dividend of $1.00 per share. The ex-dividend date is Monday, January 4th. This is a positive change from Roper Technologies's previous quarterly dividend of $0.91. This represents a $4.00 annualized dividend and a yield of 0.8%. Roper Technologies's dividend payout ratio (DPR) is presently 14.36%.

Insider Buying and Selling

In other Roper Technologies news, EVP Jason Conley sold 12,000 shares of the company's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $435.53, for a total value of $5,226,360.00. Following the transaction, the executive vice president directly owned 28,457 shares in the company, valued at $12,393,877.21. This represents a 29.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Brandon Cross sold 2,000 shares of the firm's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $489.30, for a total value of $978,600.00. Following the completion of the sale, the chief accounting officer directly owned 2,271 shares in the company, valued at approximately $1,111,200.30. The trade was a 46.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,500 shares of company stock worth $7,776,600 over the last ninety days. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ROP shares. Argus upgraded Roper Technologies from a "hold" rating to a "buy" rating and set a $450.00 price target for the company in a research report on Thursday, August 6th. The Goldman Sachs Group dropped their price objective on Roper Technologies from $414.00 to $410.00 and set a "neutral" rating on the stock in a report on Friday, July 24th. Royal Bank Of Canada raised their target price on Roper Technologies from $417.00 to $450.00 and gave the stock a "sector perform" rating in a research note on Friday, October 23rd. Raymond James Financial lowered Roper Technologies from a "strong-buy" rating to a "market perform" rating in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upgraded Roper Technologies from an "underweight" rating to a "neutral" rating and upped their price target for the company from $415.00 to $490.00 in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $469.41.

About Roper Technologies

Roper Technologies, Inc is a diversified technology company that develops and acquires businesses serving specialized markets. Its portfolio includes application software, network software and technology-enabled products used by businesses, healthcare organizations, government agencies and other institutions.

The company's software businesses provide solutions for areas such as education administration, healthcare information management, enterprise asset management, compliance, legal and construction workflows, and financial services.

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