Eastern Bank Reduces Holdings in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Eastern Bank significantly reduced its stake in Roper Technologies, Inc. by 97% in the first quarter, selling 2,634 shares and holding only 81 shares worth approximately $48,000.
• Roper Technologies reported $4.87 EPS for its latest quarter, surpassing analyst expectations, with a year-over-year revenue increase of 13.2%.
• The company declared a $0.825 quarterly dividend, representing a 0.6% annual yield, with an established payout ratio of 23.19%.

Eastern Bank trimmed its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 97.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81 shares of the industrial products company's stock after selling 2,634 shares during the period. Eastern Bank's holdings in Roper Technologies were worth $48,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Harvest Fund Management Co. Ltd lifted its position in shares of Roper Technologies by 7.5% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 6,783 shares of the industrial products company's stock worth $3,998,000 after purchasing an additional 472 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Roper Technologies in the 1st quarter worth about $659,000. Kirtland Hills Capital Management LLC increased its stake in shares of Roper Technologies by 0.7% in the 1st quarter. Kirtland Hills Capital Management LLC now owns 3,355 shares of the industrial products company's stock worth $1,870,000 after acquiring an additional 22 shares in the last quarter. Meeder Advisory Services Inc. increased its stake in shares of Roper Technologies by 23.4% in the 1st quarter. Meeder Advisory Services Inc. now owns 3,112 shares of the industrial products company's stock worth $1,835,000 after acquiring an additional 591 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Roper Technologies in the 1st quarter worth about $229,000. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Performance

Shares of NYSE ROP opened at $542.11 on Friday. The firm's 50-day moving average price is $562.03 and its 200-day moving average price is $564.43. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35. The company has a market cap of $58.28 billion, a PE ratio of 37.80, a PEG ratio of 2.77 and a beta of 1.02. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $595.17.

Roper Technologies (NYSE:ROP - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The industrial products company reported $4.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.83 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. The business's revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business earned $4.48 EPS. As a group, analysts anticipate that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 8th were given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, July 8th. Roper Technologies's payout ratio is 23.19%.

Insider Activity at Roper Technologies

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Robert W. Baird increased their price target on shares of Roper Technologies from $668.00 to $687.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Barclays reiterated an "underweight" rating on shares of Roper Technologies in a research note on Monday, April 28th. Oppenheimer reiterated an "outperform" rating and issued a $640.00 price target on shares of Roper Technologies in a research note on Monday, April 28th. Royal Bank Of Canada increased their price target on shares of Roper Technologies from $695.00 to $703.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Roper Technologies from $561.00 to $577.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $637.18.

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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