Louisiana State Employees Retirement System Grows Stake in Roper Technologies, Inc. (NYSE:ROP)

Posted by Defense World Staff on Apr 3rd, 2023

Louisiana State Employees Retirement System boosted its position in Roper Technologies, Inc. (NYSE:ROP – Get Rating) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,900 shares of the industrial products company’s stock after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Roper Technologies were worth $2,981,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI increased its position in Roper Technologies by 352.8% during the fourth quarter. National Bank of Canada FI now owns 72,604 shares of the industrial products company’s stock worth $31,371,000 after buying an additional 56,568 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in Roper Technologies by 41.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 89 shares of the industrial products company’s stock worth $38,000 after buying an additional 26 shares in the last quarter. Park Avenue Securities LLC increased its position in Roper Technologies by 0.4% during the fourth quarter. Park Avenue Securities LLC now owns 6,656 shares of the industrial products company’s stock worth $2,876,000 after buying an additional 29 shares in the last quarter. Toth Financial Advisory Corp increased its position in Roper Technologies by 47.0% during the fourth quarter. Toth Financial Advisory Corp now owns 1,884 shares of the industrial products company’s stock worth $814,000 after buying an additional 602 shares in the last quarter. Finally, Rockland Trust Co. increased its position in Roper Technologies by 3.9% during the fourth quarter. Rockland Trust Co. now owns 26,666 shares of the industrial products company’s stock worth $11,522,000 after buying an additional 1,007 shares in the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ROP. JPMorgan Chase & Co. raised Roper Technologies from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $385.00 to $420.00 in a research report on Wednesday, March 22nd. The Goldman Sachs Group raised their price objective on Roper Technologies from $423.00 to $468.00 and gave the stock a “neutral” rating in a report on Thursday, December 15th. Barclays raised their price objective on Roper Technologies from $510.00 to $518.00 and gave the stock an “overweight” rating in a report on Monday, January 30th. StockNews.com began coverage on Roper Technologies in a report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Wolfe Research upgraded Roper Technologies from a “peer perform” rating to an “outperform” rating and set a $480.00 price objective on the stock in a report on Thursday, February 23rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $492.08.

Roper Technologies Price Performance

ROP stock opened at $440.69 on Monday. The firm has a market cap of $46.82 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 2.61 and a beta of 1.03. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.63 and a current ratio of 0.67. Roper Technologies, Inc. has a 1 year low of $356.21 and a 1 year high of $488.23. The stock has a 50-day simple moving average of $429.38 and a 200-day simple moving average of $418.46.

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

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 21st. Shareholders of record on Thursday, April 6th will be given a $0.683 dividend. This is an increase from Roper Technologies’s previous quarterly dividend of $0.68. The ex-dividend date is Wednesday, April 5th. This represents a $2.73 annualized dividend and a yield of 0.62%. Roper Technologies’s dividend payout ratio (DPR) is 6.41%.

Insider Buying and Selling at Roper Technologies

In related news, Director Robert D. Johnson sold 250 shares of Roper Technologies stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $436.00, for a total value of $109,000.00. Following the completion of the sale, the director now owns 6,153 shares in the company, valued at $2,682,708. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Robert D. Johnson sold 250 shares of Roper Technologies stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $436.00, for a total value of $109,000.00. Following the completion of the sale, the director now owns 6,153 shares in the company, valued at $2,682,708. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Laurence Neil Hunn sold 5,000 shares of Roper Technologies stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $443.57, for a total transaction of $2,217,850.00. Following the completion of the sale, the chief executive officer now owns 112,048 shares of the company’s stock, valued at approximately $49,701,131.36. The disclosure for this sale can be found here. Insiders sold 5,721 shares of company stock valued at $2,529,168 over the last 90 days. 0.88% of the stock is owned by corporate insiders.

About Roper Technologies

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Roper Technologies, Inc is a diversified technology company, which engages in the provision of engineered products and solutions for global niche markets. It operates through the following segments: Application Software, Network Software, and Technology Enabled Products. The Application Software segment includes Aderant, CBORD/Horizon, CliniSys, Data Innovations, Deltek, Frontline Education, IntelliTrans, PowerPlan, Strata, and Vertafore.