Wolverine Asset Management LLC Takes $884,000 Position in Roper Technologies, Inc. (NYSE:ROP)

Key Points

• Wolverine Asset Management LLC has acquired a new stake in Roper Technologies, Inc., purchasing 1,500 shares valued at approximately $884,000.
• Roper Technologies reported a 13.2% increase in revenue year-over-year, with quarterly earnings per share (EPS) of $4.87, exceeding analyst expectations.
• The company recently announced a quarterly dividend of $0.825 per share, which translates to an annualized yield of 0.6%.

Wolverine Asset Management LLC purchased a new position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,500 shares of the industrial products company's stock, valued at approximately $884,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Endowment Wealth Management Inc. raised its position in Roper Technologies by 3.4% in the first quarter. Endowment Wealth Management Inc. now owns 555 shares of the industrial products company's stock worth $327,000 after acquiring an additional 18 shares in the last quarter. Meridian Financial Partners LLC grew its stake in shares of Roper Technologies by 0.9% in the 1st quarter. Meridian Financial Partners LLC now owns 2,071 shares of the industrial products company's stock worth $1,221,000 after purchasing an additional 19 shares during the last quarter. My Legacy Advisors LLC lifted its stake in Roper Technologies by 1.5% during the first quarter. My Legacy Advisors LLC now owns 1,273 shares of the industrial products company's stock valued at $751,000 after purchasing an additional 19 shares during the last quarter. Smith Shellnut Wilson LLC ADV boosted its holdings in Roper Technologies by 2.7% during the fourth quarter. Smith Shellnut Wilson LLC ADV now owns 767 shares of the industrial products company's stock worth $399,000 after buying an additional 20 shares in the last quarter. Finally, Tritonpoint Wealth LLC grew its position in Roper Technologies by 2.7% in the first quarter. Tritonpoint Wealth LLC now owns 760 shares of the industrial products company's stock worth $448,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 93.31% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ROP shares. William Blair began coverage on Roper Technologies in a research note on Monday, May 5th. They set an "outperform" rating for the company. JPMorgan Chase & Co. boosted their price objective on Roper Technologies from $561.00 to $577.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Truist Financial raised their target price on shares of Roper Technologies from $675.00 to $685.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Robert W. Baird lifted their target price 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. Finally, Mizuho set a $600.00 price target on shares of Roper Technologies in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $637.18.

Roper Technologies Stock Up 0.6%

ROP traded up $3.03 during midday trading on Wednesday, hitting $522.53. 1,105,812 shares of the company's stock traded hands, compared to its average volume of 617,301. The stock's fifty day simple moving average is $557.35 and its 200-day simple moving average is $565.10. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $595.17. The company has a market cap of $56.23 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 2.77 and a beta of 0.99. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37.

Roper Technologies (NYSE:ROP - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The industrial products company reported $4.87 EPS for the quarter, beating analysts' consensus estimates 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 quarter last year, the business posted $4.48 EPS. The business's revenue was up 13.2% on a year-over-year basis. As a group, equities analysts anticipate that Roper Technologies, Inc. will post 19.96 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

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

Insider Activity

In other Roper Technologies news, VP John K. Stipancich sold 1,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $564.17, for a total value of $846,255.00. Following the sale, the vice president owned 38,932 shares of the company's stock, valued at $21,964,266.44. This trade represents a 3.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard F. Wallman sold 352 shares of the company'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 transaction, the director owned 20,510 shares of the company's stock, valued at approximately $11,408,687.50. This trade 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.

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.