Salem Investment Counselors Inc. Has $9.38 Million Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Salem Investment Counselors Inc. cut its holdings in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 4.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,916 shares of the industrial products company's stock after selling 655 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Roper Technologies were worth $9,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Osprey Private Wealth LLC increased its stake in shares of Roper Technologies by 20.2% in the first quarter. Osprey Private Wealth LLC now owns 5,005 shares of the industrial products company's stock valued at $2,951,000 after buying an additional 840 shares in the last quarter. Rockland Trust Co. boosted its holdings in Roper Technologies by 1.5% in the first quarter. Rockland Trust Co. now owns 36,535 shares of the industrial products company's stock valued at $21,540,000 after acquiring an additional 541 shares during the last quarter. Ferguson Wellman Capital Management Inc. bought a new position in Roper Technologies in the first quarter valued at about $314,000. Fifth Third Bancorp boosted its holdings in Roper Technologies by 2.8% in the first quarter. Fifth Third Bancorp now owns 12,487 shares of the industrial products company's stock valued at $7,362,000 after acquiring an additional 345 shares during the last quarter. Finally, Simon Quick Advisors LLC boosted its holdings in Roper Technologies by 43.0% in the first quarter. Simon Quick Advisors LLC now owns 868 shares of the industrial products company's stock valued at $512,000 after acquiring an additional 261 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ROP has been the topic of several recent research reports. Barclays reiterated an "underweight" rating on shares of Roper Technologies in a report on Monday, April 28th. Mizuho set a $600.00 price target on Roper Technologies in a report on Friday, May 16th. Oppenheimer reiterated an "outperform" rating and issued a $640.00 price target on shares of Roper Technologies in a report on Monday, April 28th. Stifel Nicolaus reduced their target price on Roper Technologies from $685.00 to $650.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Finally, Robert W. Baird raised their target price on Roper Technologies from $660.00 to $668.00 and gave the stock an "outperform" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $632.36.

Roper Technologies Stock Down 2.0%

Roper Technologies stock traded down $11.28 during midday trading on Friday, reaching $560.75. The stock had a trading volume of 436,797 shares, compared to its average volume of 548,650. The firm's fifty day simple moving average is $564.63 and its 200-day simple moving average is $558.32. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. The stock has a market capitalization of $60.29 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 2.77 and a beta of 1.03. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.37 and a current ratio of 0.40.

Roper Technologies (NYSE:ROP - Get Free Report) last announced its 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%. During the same period last year, the firm posted $4.41 EPS. The business's revenue was up 12.0% compared to the same quarter last year. As a group, analysts expect that Roper Technologies, Inc. will post 19.96 EPS for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently announced 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 0.59%. The ex-dividend date of this dividend is Tuesday, July 8th. Roper Technologies's dividend payout ratio is presently 23.81%.

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.