King Luther Capital Management Corp Trims Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• King Luther Capital Management Corp reduced its stake in Roper Technologies by 7.5%, holding 505,734 shares worth $298.17 million, representing 1.4% of its total portfolio.
• Roper Technologies reported a 13.2% year-over-year revenue increase with earnings per share of $4.87 for the last quarter, slightly exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.825, reflecting an annualized yield of 0.6% and a payout ratio of 23.19%.

King Luther Capital Management Corp decreased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 7.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 505,734 shares of the industrial products company's stock after selling 41,067 shares during the period. Roper Technologies accounts for 1.4% of King Luther Capital Management Corp's portfolio, making the stock its 17th largest position. King Luther Capital Management Corp owned approximately 0.47% of Roper Technologies worth $298,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MorganRosel Wealth Management LLC bought a new stake in shares of Roper Technologies during the first quarter valued at approximately $27,000. Olde Wealth Management LLC bought a new stake in shares of Roper Technologies during the first quarter valued at approximately $31,000. Wayfinding Financial LLC bought a new stake in Roper Technologies in the 1st quarter worth approximately $31,000. Alpine Bank Wealth Management bought a new stake in Roper Technologies in the 1st quarter worth approximately $34,000. Finally, Putney Financial Group LLC bought a new stake in Roper Technologies in the 4th quarter worth approximately $31,000. Institutional investors own 93.31% of the company's stock.

Roper Technologies Trading Up 0.6%

Roper Technologies stock traded up $3.03 during trading hours on Wednesday, hitting $522.53. The company had a trading volume of 1,105,813 shares, compared to its average volume of 617,344. The firm has a market cap of $56.23 billion, a P/E ratio of 36.44, a P/E/G ratio of 2.77 and a beta of 0.99. 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, Inc. has a 1 year low of $499.47 and a 1 year high of $595.17. The company has a 50-day moving average price of $557.35 and a two-hundred day moving average price of $565.10.

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 the consensus estimate of $4.83 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. During the same period in the previous year, the business posted $4.48 earnings per share. The business's quarterly revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Announces Dividend

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

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 352 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John K. Stipancich sold 1,500 shares of the 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 directly owned 38,932 shares of the company's stock, valued at $21,964,266.44. The trade was a 3.71% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

ROP has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an "outperform" rating and issued a $640.00 target price on shares of Roper Technologies in a research report on Monday, April 28th. Royal Bank Of Canada lifted 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. Raymond James Financial reiterated a "strong-buy" rating and set a $655.00 price target on shares of Roper Technologies in a research note on Monday, April 28th. Truist Financial lifted their price target on shares of Roper Technologies from $675.00 to $685.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Roper Technologies from $561.00 to $577.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a sell rating, two have issued 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 an average price target of $637.18.

About Roper Technologies

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.