Balyasny Asset Management LLC Has $30.65 Million Position in Roper Technologies, Inc. (NYSE:ROP)

Posted by on Mar 15th, 2023

Balyasny Asset Management LLC lifted its stake in Roper Technologies, Inc. (NYSE:ROP – Get Rating) by 924.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,228 shares of the industrial products company’s stock after purchasing an additional 76,911 shares during the period. Balyasny Asset Management LLC owned 0.08% of Roper Technologies worth $30,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. IFG Advisory LLC increased its holdings in shares of Roper Technologies by 4.5% in the third quarter. IFG Advisory LLC now owns 581 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 25 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of Roper Technologies by 12.1% in the third quarter. Global Retirement Partners LLC now owns 241 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 26 shares in the last quarter. FSM Wealth Advisors LLC increased its holdings in shares of Roper Technologies by 1.8% in the third quarter. FSM Wealth Advisors LLC now owns 1,592 shares of the industrial products company’s stock valued at $573,000 after purchasing an additional 28 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Roper Technologies by 17.7% in the third quarter. Parkside Financial Bank & Trust now owns 186 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 28 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Roper Technologies by 0.8% during the 1st quarter. Cetera Investment Advisers now owns 3,916 shares of the industrial products company’s stock worth $1,849,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $428.07 on Wednesday. The company has a market cap of $45.48 billion, a PE ratio of 10.05, a price-to-earnings-growth ratio of 2.49 and a beta of 1.03. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $432.90 and a 200-day moving average of $416.02. Roper Technologies, Inc. has a 1-year low of $356.21 and a 1-year high of $488.23.

Roper Technologies (NYSE:ROP – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The industrial products company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. Roper Technologies had a net margin of 80.89% and a return on equity of 11.43%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.73 EPS. As a group, equities research analysts forecast that Roper Technologies, Inc. will post 16.07 earnings per share for the current fiscal year.

Insider Activity at Roper Technologies

In related news, CEO Laurence Neil Hunn sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $443.57, for a total value of $2,217,850.00. Following the completion of the transaction, the chief executive officer now owns 112,048 shares of the company’s stock, valued at approximately $49,701,131.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Roper Technologies news, CEO Laurence Neil Hunn sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $443.57, for a total value of $2,217,850.00. Following the completion of the transaction, the chief executive officer now directly owns 112,048 shares in the company, valued at approximately $49,701,131.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard F. Wallman purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, February 14th. The stock was acquired at an average price of $424.95 per share, with a total value of $424,950.00. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $424,950. The disclosure for this purchase can be found here. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of Roper Technologies from $510.00 to $518.00 and gave the company an “overweight” rating in a research report on Monday, January 30th. Wolfe Research raised shares of Roper Technologies from a “peer perform” rating to an “outperform” rating and set a $480.00 price objective for the company in a report on Thursday, February 23rd. Royal Bank of Canada boosted their price objective on shares of Roper Technologies from $504.00 to $505.00 and gave the company an “outperform” rating in a report on Monday, January 30th. Finally, The Goldman Sachs Group boosted their price objective on shares of Roper Technologies from $423.00 to $468.00 and gave the company a “neutral” rating in a report on Thursday, December 15th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $495.67.

Roper Technologies Company Profile

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Roper Technologies, Inc is a diversified technology company. engages in the provision of engineered products and solutions for the global niche markets. It operates through the following segments: Application Software, Network Software and Systems, Measurement and Analytical Solutions, and Process Technologies.

See Also

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Institutional Ownership by Quarter for Roper Technologies (NYSE:ROP)

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