Principal Financial Group Inc. Sells 61,939 Shares of Roper Technologies, Inc. (NYSE:ROP)

Principal Financial Group Inc. lowered its position in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 2.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 2,530,179 shares of the industrial products company's stock after selling 61,939 shares during the period. Roper Technologies accounts for approximately 0.8% of Principal Financial Group Inc.'s portfolio, making the stock its 23rd largest position. Principal Financial Group Inc. owned 2.36% of Roper Technologies worth $1,491,744,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Roper Technologies by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company's stock valued at $5,497,467,000 after acquiring an additional 72,503 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Roper Technologies by 42.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company's stock valued at $2,678,009,000 after purchasing an additional 1,529,716 shares during the period. Geode Capital Management LLC boosted its position in shares of Roper Technologies by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,476,210 shares of the industrial products company's stock valued at $1,284,242,000 after purchasing an additional 29,184 shares in the last quarter. Norges Bank acquired a new stake in Roper Technologies during the fourth quarter worth approximately $914,052,000. Finally, Invesco Ltd. grew its stake in Roper Technologies by 2.2% during the fourth quarter. Invesco Ltd. now owns 1,490,212 shares of the industrial products company's stock worth $774,687,000 after purchasing an additional 31,531 shares during the period. 93.31% of the stock is owned by institutional investors.

Roper Technologies Stock Down 1.2%

Shares of NYSE ROP opened at $566.08 on Thursday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37. The company has a 50-day moving average price of $567.80 and a 200-day moving average price of $558.94. The stock has a market capitalization of $60.86 billion, a P/E ratio of 39.48, a P/E/G ratio of 2.77 and a beta of 1.03. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $595.17.

Roper Technologies (NYSE:ROP - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The industrial products company reported $4.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.74 by $0.04. Roper Technologies had a return on equity of 10.79% and a net margin of 22.01%. Roper Technologies's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.41 earnings per share. On average, equities research analysts forecast 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 Tuesday, July 22nd. Investors of record on Tuesday, July 8th will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Tuesday, July 8th. Roper Technologies's payout ratio is currently 23.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on Roper Technologies from $470.00 to $561.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Royal Bank Of Canada boosted their target price on shares of Roper Technologies from $694.00 to $695.00 and gave the company an "outperform" rating in a research report on Tuesday, April 29th. Oppenheimer restated an "outperform" rating and issued a $640.00 price target on shares of Roper Technologies in a report on Monday, April 28th. William Blair began coverage on shares of Roper Technologies in a research note on Monday, May 5th. They issued an "outperform" rating for the company. Finally, Stifel Nicolaus dropped their price objective on shares of Roper Technologies from $685.00 to $650.00 and set a "buy" rating on the stock in a report 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 two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $632.36.

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.

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.