Lord Abbett & CO. LLC Sells 48,330 Shares of Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Lord Abbett & CO. LLC reduced its stake in Roper Technologies by 19.5%, now holding approximately 0.19% of the company's shares, valued at $117.91 million.
• Roper Technologies announced a quarterly dividend of $0.825 per share, with an ex-dividend date of October 3rd, representing an annualized dividend yield of 0.6%.
• Analysts have mixed ratings for Roper Technologies, with the stock receiving one sell rating, two holds, eight buys, and one strong buy, alongside a target price range of $577.00 to $685.00.

Lord Abbett & CO. LLC trimmed its holdings in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 19.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,990 shares of the industrial products company's stock after selling 48,330 shares during the quarter. Lord Abbett & CO. LLC owned about 0.19% of Roper Technologies worth $117,910,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of Roper Technologies during the first quarter worth approximately $27,000. Putney Financial Group LLC purchased a new position in Roper Technologies during the fourth quarter worth about $31,000. Olde Wealth Management LLC purchased a new position in Roper Technologies during the first quarter worth about $31,000. Wayfinding Financial LLC acquired a new position in shares of Roper Technologies in the 1st quarter valued at about $31,000. Finally, Alpine Bank Wealth Management acquired a new position in shares of Roper Technologies in the 1st quarter valued at about $34,000. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Price Performance

ROP stock traded up $4.68 during midday trading on Friday, reaching $529.64. 697,542 shares of the company's stock traded hands, compared to its average volume of 619,619. The company has a 50-day simple moving average of $554.68 and a two-hundred day simple moving average of $564.71. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. The company has a market cap of $57.00 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 2.77 and a beta of 0.99. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 0.35.

Roper Technologies (NYSE:ROP - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The industrial products company reported $4.87 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%. Roper Technologies's quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $4.48 EPS. On average, analysts anticipate that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Dividend Announcement

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

Wall Street Analysts Forecast Growth

ROP has been the topic of several analyst reports. Robert W. Baird lifted their price objective on Roper Technologies from $668.00 to $687.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Truist Financial lifted their price objective on Roper Technologies from $675.00 to $685.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Mizuho set a $600.00 price objective on Roper Technologies in a report on Friday, May 16th. Royal Bank Of Canada lifted their target price on Roper Technologies from $695.00 to $703.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $655.00 target price on shares of Roper Technologies in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $637.40.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 352 shares of Roper Technologies 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 directly owned 20,510 shares of the company's stock, valued at $11,408,687.50. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John K. Stipancich sold 1,500 shares of Roper Technologies stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $564.17, for a total value of $846,255.00. Following the sale, the vice president directly owned 38,932 shares of the company's stock, valued at approximately $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. 0.78% of the stock is currently owned by company insiders.

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.