Forsta AP Fonden Sells 3,600 Shares of Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Forsta AP Fonden has decreased its holdings in Roper Technologies, Inc. by 15.9%, resulting in ownership of 19,100 shares worth approximately $11.26 million as of its most recent SEC filing.
• Multiple equities research analysts have adjusted their price targets for Roper Technologies, with estimates ranging from $600.00 to $703.00, and the stock currently has an average rating of "Moderate Buy."
• The company has announced a quarterly dividend of $0.825 per share, reflecting an annualized dividend yield of 0.6% and a payout ratio of 23.19%.

Forsta AP Fonden cut its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 15.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,100 shares of the industrial products company's stock after selling 3,600 shares during the period. Forsta AP Fonden's holdings in Roper Technologies were worth $11,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Endowment Wealth Management Inc. raised its stake in shares of Roper Technologies by 3.4% in the 1st quarter. Endowment Wealth Management Inc. now owns 555 shares of the industrial products company's stock valued at $327,000 after acquiring an additional 18 shares in the last quarter. Meridian Financial Partners LLC raised its stake in shares of Roper Technologies by 0.9% in the 1st quarter. Meridian Financial Partners LLC now owns 2,071 shares of the industrial products company's stock valued at $1,221,000 after acquiring an additional 19 shares in the last quarter. My Legacy Advisors LLC raised its stake in shares of Roper Technologies by 1.5% in the 1st quarter. My Legacy Advisors LLC now owns 1,273 shares of the industrial products company's stock valued at $751,000 after acquiring an additional 19 shares in the last quarter. Smith Shellnut Wilson LLC ADV raised its stake in shares of Roper Technologies by 2.7% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 767 shares of the industrial products company's stock valued at $399,000 after acquiring an additional 20 shares in the last quarter. Finally, Tritonpoint Wealth LLC raised its stake in shares of Roper Technologies by 2.7% in the 1st quarter. Tritonpoint Wealth LLC now owns 760 shares of the industrial products company's stock valued at $448,000 after acquiring an additional 20 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Performance

Shares of NYSE:ROP traded down $2.33 during trading on Friday, hitting $534.38. 358,734 shares of the stock were exchanged, compared to its average volume of 613,320. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. The company has a market capitalization of $57.51 billion, a price-to-earnings ratio of 37.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.99. The company's fifty day simple moving average is $559.10 and its 200-day simple moving average is $565.45. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40.

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

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Friday, October 3rd will be paid a $0.825 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.30 annualized dividend and a yield of 0.6%. Roper Technologies's payout ratio is currently 23.19%.

Insider Buying and Selling at Roper Technologies

In related news, Director Richard F. Wallman sold 352 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $556.25, for a total value of $195,800.00. Following the sale, the director owned 20,510 shares of the company's stock, valued at $11,408,687.50. The trade was a 1.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John K. Stipancich sold 1,500 shares of the business'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 position. The disclosure for this sale can be found here. 0.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ROP has been the topic of a number of recent analyst reports. Raymond James Financial reissued a "strong-buy" rating and issued a $655.00 price objective on shares of Roper Technologies in a research note on Monday, April 28th. JPMorgan Chase & Co. raised their price objective on Roper Technologies from $561.00 to $577.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Barclays reaffirmed an "underweight" rating on shares of Roper Technologies in a research report on Monday, April 28th. Mizuho set a $600.00 price target on Roper Technologies in a research report on Friday, May 16th. Finally, Truist Financial lifted their price target on Roper Technologies from $675.00 to $685.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $637.18.

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.