Mitsubishi UFJ Asset Management Co. Ltd. Purchases 111,111 Shares of Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its stake in Roper Technologies, Inc. by 11.5%, owning over 1 million shares worth approximately $635 million.
• Roper Technologies reported earnings of $4.87 per share for the last quarter, surpassing analysts' expectations, with a 13.2% increase in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.825 per share, which equates to an annualized yield of 0.6% and a payout ratio of 23.19%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 11.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,077,662 shares of the industrial products company's stock after acquiring an additional 111,111 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 1.00% of Roper Technologies worth $635,368,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ROP. Brighton Jones LLC bought a new stake in Roper Technologies during the fourth quarter valued at $203,000. Federated Hermes Inc. boosted its position in shares of Roper Technologies by 15.9% during the 4th quarter. Federated Hermes Inc. now owns 5,421 shares of the industrial products company's stock worth $2,818,000 after purchasing an additional 742 shares in the last quarter. FMR LLC boosted its position in shares of Roper Technologies by 8.3% during the 4th quarter. FMR LLC now owns 391,120 shares of the industrial products company's stock worth $203,324,000 after purchasing an additional 29,880 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Roper Technologies by 251.5% during the 4th quarter. Bank of Nova Scotia now owns 61,166 shares of the industrial products company's stock worth $31,797,000 after purchasing an additional 43,764 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Roper Technologies during the 4th quarter worth about $14,296,000. Institutional investors own 93.31% of the company's stock.

Insider Activity at Roper Technologies

In related news, VP John K. Stipancich sold 1,500 shares of Roper Technologies 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 transaction, the vice president directly owned 38,932 shares in the company, valued at approximately $21,964,266.44. The trade was a 3.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard F. Wallman sold 352 shares of Roper Technologies stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total transaction 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. Company insiders own 0.78% of the company's stock.

Wall Street Analyst Weigh In

ROP has been the topic of a number of research analyst reports. Barclays reissued an "underweight" rating on shares of Roper Technologies in a research report on Monday, April 28th. Oppenheimer reissued an "outperform" rating and set a $640.00 price objective on shares of Roper Technologies in a research report on Monday, April 28th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $655.00 price target on shares of Roper Technologies in a research report on Monday, April 28th. Truist Financial raised their price target on shares of Roper Technologies from $675.00 to $685.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Roper Technologies from $561.00 to $577.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $637.18.

Roper Technologies Stock Down 0.4%

NYSE:ROP traded down $2.33 on Friday, hitting $534.38. The stock had a trading volume of 358,734 shares, compared to its average volume of 613,320. 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 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 firm's fifty day simple moving average is $559.10 and its two-hundred day simple moving average is $565.23.

Roper Technologies (NYSE:ROP - Get Free Report) last issued its quarterly 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 net margin of 22.01% and a return on equity of 10.79%. During the same quarter last year, the company posted $4.48 earnings per share. The business's revenue for the quarter was up 13.2% on a year-over-year basis. Analysts predict that Roper Technologies, Inc. will post 19.96 earnings per share for the current year.

Roper Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Friday, October 3rd will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, October 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.6%. Roper Technologies's dividend payout ratio (DPR) is presently 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.