Mackenzie Financial Corp Sells 6,823 Shares of Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Mackenzie Financial Corp reduced its holdings in Roper Technologies by 0.6%, selling 6,823 shares, which now represent 1.0% of its overall portfolio valued at approximately $682.9 million.
• Roper Technologies announced a quarterly dividend of $0.825, with an annualized yield of 0.59%, indicating a dividend payout ratio of 23.19%.
• Analysts' target price for Roper Technologies has been revised upwards, with estimates ranging from $577.00 to $703.00, with an overall consensus rating of "Moderate Buy".

Mackenzie Financial Corp lessened its holdings in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 0.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,158,230 shares of the industrial products company's stock after selling 6,823 shares during the period. Roper Technologies accounts for 1.0% of Mackenzie Financial Corp's holdings, making the stock its 21st biggest position. Mackenzie Financial Corp owned about 1.08% of Roper Technologies worth $682,869,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. CWA Asset Management Group LLC grew its holdings in Roper Technologies by 8.6% in the 1st quarter. CWA Asset Management Group LLC now owns 768 shares of the industrial products company's stock valued at $453,000 after buying an additional 61 shares in the last quarter. Freedom Day Solutions LLC acquired a new position in Roper Technologies in the 1st quarter valued at $1,808,000. Tandem Investment Advisors Inc. grew its holdings in Roper Technologies by 49.9% in the 1st quarter. Tandem Investment Advisors Inc. now owns 98,229 shares of the industrial products company's stock valued at $57,914,000 after buying an additional 32,694 shares in the last quarter. GAMMA Investing LLC grew its holdings in Roper Technologies by 76.4% in the 1st quarter. GAMMA Investing LLC now owns 1,891 shares of the industrial products company's stock valued at $1,115,000 after buying an additional 819 shares in the last quarter. Finally, Legacy Advisors LLC acquired a new position in Roper Technologies in the 1st quarter valued at $264,000. Institutional investors own 93.31% of the company's stock.

Roper Technologies Stock Performance

NYSE:ROP opened at $563.03 on Monday. The stock's 50-day simple moving average is $564.04 and its 200 day simple moving average is $563.61. The firm has a market capitalization of $60.53 billion, a PE ratio of 39.26, a price-to-earnings-growth ratio of 2.77 and a beta of 1.02. 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, Inc. has a twelve month low of $499.47 and a twelve month high of $595.17.

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 for the quarter, beating 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%. The firm's revenue was up 13.2% on a year-over-year basis. During the same period last year, the firm earned $4.48 EPS. On average, analysts anticipate that Roper Technologies, Inc. will post 19.96 EPS 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 given a $0.825 dividend. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.30 annualized dividend and a yield of 0.59%. Roper Technologies's dividend payout ratio is presently 23.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ROP. Royal Bank Of Canada upped their price objective on Roper Technologies from $695.00 to $703.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Oppenheimer reissued an "outperform" rating and set a $640.00 target price on shares of Roper Technologies in a report on Monday, April 28th. Raymond James Financial reissued a "strong-buy" rating and set a $655.00 target price on shares of Roper Technologies in a report on Monday, April 28th. William Blair initiated coverage on Roper Technologies in a report on Monday, May 5th. They set an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on Roper Technologies from $561.00 to $577.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. One 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. According to MarketBeat, Roper Technologies has an average rating of "Moderate Buy" and an average target price of $637.18.

Insider Activity

In other Roper Technologies news, VP John K. Stipancich sold 1,500 shares of the stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $564.17, for a total value of $846,255.00. Following the completion of the transaction, the vice president directly owned 38,932 shares in the company, valued at approximately $21,964,266.44. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard F. Wallman sold 352 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total value of $195,800.00. Following the completion of the transaction, 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. 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.

Want to see what other hedge funds are holding ROP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roper Technologies, Inc. (NYSE:ROP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.