Nuveen LLC Takes Position in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Nuveen LLC has acquired a new stake in Roper Technologies, Inc., purchasing 1,517,629 shares valued at approximately $894.76 million, representing a 1.41% ownership in the company.
• Roper Technologies recently reported quarterly earnings, with an EPS of $4.87, exceeding analysts' expectations of $4.83, and posted a revenue increase of 13.2% compared to last year.
• The firm announced a quarterly dividend of $0.825 per share, set to be paid on October 17, indicating a dividend yield of 0.6% for shareholders.

Nuveen LLC acquired a new stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,517,629 shares of the industrial products company's stock, valued at approximately $894,764,000. Nuveen LLC owned 1.41% of Roper Technologies at the end of the most recent quarter.

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

Analysts Set New Price Targets

ROP has been the subject of several recent analyst reports. Oppenheimer restated an "outperform" rating and set a $640.00 target price on shares of Roper Technologies in a research note on Monday, April 28th. Royal Bank Of Canada lifted their price target on Roper Technologies from $695.00 to $703.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. 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 note on Tuesday, July 22nd. Mizuho set a $600.00 price target on Roper Technologies in a research note on Friday, May 16th. Finally, Stifel Nicolaus decreased their price target on Roper Technologies from $685.00 to $650.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. One equities research 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $637.18.

Insider Activity

In other news, VP John K. Stipancich sold 1,500 shares of the firm'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 completion of the sale, the vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard F. Wallman sold 352 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 20,510 shares of the company's stock, valued at approximately $11,408,687.50. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company's stock.

Roper Technologies Stock Up 0.6%

NYSE:ROP traded up $3.03 during trading hours on Wednesday, hitting $522.53. 1,105,813 shares of the stock traded hands, compared to its average volume of 617,344. The firm has a 50 day moving average price of $557.35 and a 200 day moving average price of $565.10. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $595.17. The firm has a market cap of $56.23 billion, a price-to-earnings ratio of 36.44, a PEG ratio of 2.77 and a beta of 0.99.

Roper Technologies (NYSE:ROP - Get Free Report) last issued 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%. During the same period in the previous year, the firm earned $4.48 earnings per share. Roper Technologies's quarterly revenue was up 13.2% on a year-over-year basis. Equities research analysts anticipate that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Dividend Announcement

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

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.