Roper Technologies, Inc. (NYSE:ROP) Shares Purchased by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. increased its stake in Roper Technologies by 23.7% during the first quarter, holding 12,385 shares valued at approximately $7.3 million.
• Analysts are optimistic about Roper Technologies, with multiple firms raising their price targets, resulting in a consensus rating of "Moderate Buy" and an average price target of $637.18.
• Roper Technologies recently announced a quarterly dividend of $0.825 per share, reflecting a 0.6% yield, with a payout ratio of 23.19%.

LGT Fund Management Co Ltd. grew its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 23.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,385 shares of the industrial products company's stock after acquiring an additional 2,371 shares during the period. LGT Fund Management Co Ltd.'s holdings in Roper Technologies were worth $7,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC acquired a new stake in Roper Technologies during the fourth quarter valued at approximately $203,000. Federated Hermes Inc. grew its position in shares of Roper Technologies by 15.9% in the 4th quarter. Federated Hermes Inc. now owns 5,421 shares of the industrial products company's stock worth $2,818,000 after acquiring an additional 742 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Roper Technologies during the 4th quarter valued at approximately $14,296,000. Townsquare Capital LLC lifted its stake in Roper Technologies by 15.6% during the fourth quarter. Townsquare Capital LLC now owns 2,374 shares of the industrial products company's stock worth $1,234,000 after purchasing an additional 321 shares during the last quarter. Finally, Sagespring Wealth Partners LLC acquired a new position in Roper Technologies in the fourth quarter worth $272,000. Institutional investors own 93.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Robert W. Baird raised their price target on shares of Roper Technologies from $668.00 to $687.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Roper Technologies from $561.00 to $577.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Truist Financial lifted their target price 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 report on Monday, May 5th. They set an "outperform" rating on the stock. Finally, Oppenheimer reissued an "outperform" rating and issued a $640.00 price target on shares of Roper Technologies in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, two have given 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $637.18.

Insider Activity

In other news, VP John K. Stipancich sold 1,500 shares of Roper Technologies stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $564.17, for a total transaction of $846,255.00. Following the transaction, the vice president owned 38,932 shares in the company, valued at approximately $21,964,266.44. The trade was a 3.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard F. Wallman sold 352 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $556.25, for a total value of $195,800.00. Following the transaction, the director directly owned 20,510 shares in the company, valued at $11,408,687.50. The trade was 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 insiders.

Roper Technologies Price Performance

Shares of NYSE ROP opened at $527.48 on Tuesday. The stock has a market cap of $56.76 billion, a P/E ratio of 36.78, a P/E/G ratio of 2.77 and a beta of 0.99. The firm's 50-day simple moving average is $558.32 and its 200 day simple moving average is $565.42. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $595.17. 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 (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 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 last year, the company posted $4.48 earnings per share. The company's revenue for the quarter was up 13.2% on a year-over-year basis. Equities analysts expect that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Announces Dividend

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

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.

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