Carnegie Investment Counsel Takes Position in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Carnegie Investment Counsel acquired a new stake in Roper Technologies, purchasing 822 shares valued at approximately $480,000.
• Institutional investors now hold 93.31% of Roper Technologies' stock, with significant increases from multiple hedge funds including T. Rowe Price and GAMMA Investing LLC.
• The company reported earnings of $4.87 per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 13.2% year-over-year.

Carnegie Investment Counsel purchased a new stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 822 shares of the industrial products company's stock, valued at approximately $480,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its holdings in shares of Roper Technologies by 42.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company's stock valued at $2,678,009,000 after purchasing an additional 1,529,716 shares during the period. Geode Capital Management LLC increased its holdings in shares of Roper Technologies by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 2,476,210 shares of the industrial products company's stock valued at $1,284,242,000 after purchasing an additional 29,184 shares during the period. Invesco Ltd. increased its holdings in shares of Roper Technologies by 2.2% during the fourth quarter. Invesco Ltd. now owns 1,490,212 shares of the industrial products company's stock valued at $774,687,000 after purchasing an additional 31,531 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Roper Technologies by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 1,165,053 shares of the industrial products company's stock valued at $605,653,000 after purchasing an additional 19,377 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Roper Technologies by 103,901.5% during the first quarter. GAMMA Investing LLC now owns 1,114,896 shares of the industrial products company's stock valued at $657,320,000 after purchasing an additional 1,113,824 shares during the period. Institutional investors and hedge funds own 93.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ROP. Royal Bank Of Canada boosted their price objective on Roper Technologies from $695.00 to $703.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus cut their price objective on Roper Technologies from $685.00 to $650.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Robert W. Baird upped their price objective on Roper Technologies from $668.00 to $687.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Raymond James Financial restated a "strong-buy" rating and issued a $655.00 price objective on shares of Roper Technologies in a report on Monday, April 28th. Finally, Barclays restated an "underweight" rating on shares of Roper Technologies in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $637.18.

Insider Transactions at Roper Technologies

In related news, VP John K. Stipancich sold 1,500 shares of the company's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $564.17, for a total value of $846,255.00. Following the completion of the sale, the vice president directly owned 38,932 shares in the company, valued at approximately $21,964,266.44. This represents a 3.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard F. Wallman sold 352 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $556.25, for a total transaction of $195,800.00. Following the completion of the sale, the director owned 20,510 shares of the company's stock, valued at $11,408,687.50. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.78% of the company's stock.

Roper Technologies Stock Up 0.5%

NYSE:ROP opened at $563.03 on Friday. The firm has a market capitalization of $60.53 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 2.77 and a beta of 1.02. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. The business's fifty day moving average price is $564.04 and its 200 day moving average price is $563.24.

Roper Technologies (NYSE:ROP - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The industrial products company reported $4.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.83 by $0.04. Roper Technologies had a return on equity of 10.79% and a net margin of 22.01%. During the same quarter in the previous year, the business earned $4.48 earnings per share. The company's revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts forecast that Roper Technologies, Inc. will post 19.96 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Tuesday, July 8th were paid a $0.825 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. Roper Technologies's dividend payout ratio (DPR) is currently 23.19%.

Roper Technologies Company 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.

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