Citigroup Inc. Boosts Stake in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Citigroup Inc. increased its holdings in Roper Technologies by 72.7%, acquiring an additional 107,225 shares in the first quarter, bringing its total ownership to approximately $150 million.
• Roper Technologies reported $4.87 EPS for the last quarter, surpassing analysts' estimates and reflecting a year-over-year revenue growth of 13.2%.
• The company announced a quarterly dividend of $0.825 per share, with an annualized yield of 0.6%, scheduled for payment on October 17th.

Citigroup Inc. raised its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 72.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 254,705 shares of the industrial products company's stock after acquiring an additional 107,225 shares during the quarter. Citigroup Inc. owned approximately 0.24% of Roper Technologies worth $150,169,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AlphaCore Capital LLC acquired a new position in shares of Roper Technologies during the 1st quarter worth about $438,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Roper Technologies by 11.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,077,662 shares of the industrial products company's stock valued at $635,368,000 after acquiring an additional 111,111 shares during the period. Deutsche Bank AG increased its position in Roper Technologies by 12.4% during the 1st quarter. Deutsche Bank AG now owns 357,661 shares of the industrial products company's stock worth $210,870,000 after buying an additional 39,354 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Roper Technologies by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 705,472 shares of the industrial products company's stock worth $415,932,000 after purchasing an additional 32,279 shares in the last quarter. Finally, ASR Vermogensbeheer N.V. acquired a new stake in shares of Roper Technologies during the 1st quarter worth $1,231,000. 93.31% of the stock is owned by institutional investors.

Roper Technologies Stock Performance

Shares of ROP stock traded down $2.33 on Friday, reaching $534.38. The stock had a trading volume of 358,734 shares, compared to its average volume of 613,320. The stock has a market cap of $57.51 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.99. Roper Technologies, Inc. has a 1 year low of $499.47 and a 1 year high of $595.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40. The company has a 50 day simple moving average of $559.10 and a 200 day simple moving average of $565.45.

Roper Technologies (NYSE:ROP - Get Free Report) last issued its earnings results on Monday, July 21st. The industrial products company reported $4.87 earnings per share (EPS) for the quarter, topping 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%. During the same period in the previous year, the business earned $4.48 EPS. The firm's revenue was up 13.2% on a year-over-year basis. Equities research analysts expect that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on ROP. Oppenheimer reaffirmed an "outperform" rating and issued a $640.00 price objective on shares of Roper Technologies in a research note on Monday, April 28th. Stifel Nicolaus cut their price target on Roper Technologies from $685.00 to $650.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Truist Financial lifted their price target on Roper Technologies from $675.00 to $685.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. William Blair assumed coverage on Roper Technologies in a research note on Monday, May 5th. They set an "outperform" rating on the stock. Finally, Royal Bank Of Canada lifted their price target on Roper Technologies from $695.00 to $703.00 and gave the company an "outperform" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $637.18.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 352 shares of the business'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 value of $195,800.00. Following the completion of the sale, the director owned 20,510 shares in the company, valued at approximately $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 accessible through the SEC website. Also, VP John K. Stipancich sold 1,500 shares of the business'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 value of $846,255.00. Following the completion of the sale, the vice president 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. 0.78% of the stock is owned by insiders.

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.