Resona Asset Management Co. Ltd. Sells 1,278 Shares of Roper Technologies, Inc. $ROP

Resona Asset Management Co. Ltd. cut its stake in Roper Technologies, Inc. (NASDAQ:ROP) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,184 shares of the industrial products company’s stock after selling 1,278 shares during the period. Resona Asset Management Co. Ltd. owned 0.05% of Roper Technologies worth $27,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Roper Technologies by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 10,896,899 shares of the industrial products company’s stock worth $6,176,798,000 after purchasing an additional 179,646 shares during the last quarter. State Street Corp increased its stake in shares of Roper Technologies by 2.1% in the 2nd quarter. State Street Corp now owns 4,940,058 shares of the industrial products company’s stock valued at $2,800,222,000 after buying an additional 101,033 shares during the period. Geode Capital Management LLC raised its position in shares of Roper Technologies by 1.1% during the second quarter. Geode Capital Management LLC now owns 2,574,503 shares of the industrial products company’s stock worth $1,453,557,000 after acquiring an additional 27,386 shares during the last quarter. Norges Bank acquired a new position in shares of Roper Technologies during the second quarter valued at $1,064,718,000. Finally, Invesco Ltd. boosted its holdings in Roper Technologies by 1.2% in the second quarter. Invesco Ltd. now owns 1,496,088 shares of the industrial products company’s stock valued at $848,043,000 after acquiring an additional 17,503 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Roper Technologies Stock Up 0.0%

Roper Technologies stock opened at $407.61 on Friday. The firm has a market capitalization of $43.88 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 1.90 and a beta of 0.94. The company’s 50 day simple moving average is $438.59 and its 200 day simple moving average is $486.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.58 and a quick ratio of 0.53. Roper Technologies, Inc. has a fifty-two week low of $399.09 and a fifty-two week high of $595.17.

Roper Technologies (NASDAQ:ROP) last issued its earnings results on Thursday, October 23rd. The industrial products company reported $5.14 EPS for the quarter, beating the consensus estimate of $5.11 by $0.03. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.02 billion. Roper Technologies had a net margin of 20.34% and a return on equity of 10.92%. The business’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.62 earnings per share. As a group, sell-side analysts anticipate that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Friday, January 2nd were issued a dividend of $0.91 per share. This is a boost from Roper Technologies’s previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, January 2nd. Roper Technologies’s dividend payout ratio is presently 25.09%.

Insider Activity

In other news, CEO Laurence Neil Hunn sold 30,000 shares of Roper Technologies stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $443.57, for a total transaction of $13,307,100.00. Following the transaction, the chief executive officer owned 87,311 shares in the company, valued at $38,728,540.27. The trade was a 25.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy Woods Brinkley bought 1,200 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $450.71 per share, with a total value of $540,852.00. Following the completion of the purchase, the director owned 18,184 shares in the company, valued at $8,195,710.64. This represents a 7.07% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Jefferies Financial Group dropped their price objective on Roper Technologies from $650.00 to $600.00 and set a “buy” rating for the company in a report on Monday, January 5th. Barclays dropped their price target on shares of Roper Technologies from $506.00 to $475.00 and set an “underweight” rating for the company in a research note on Thursday, December 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Roper Technologies in a research note on Friday, October 31st. Robert W. Baird set a $592.00 target price on shares of Roper Technologies in a report on Friday, October 24th. Finally, TD Cowen cut their price target on Roper Technologies from $650.00 to $625.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average price target of $547.86.

Roper Technologies Company Profile

Roper Technologies, Inc (NASDAQ: ROP) is a diversified technology company that acquires and manages businesses delivering specialized software, engineered products and data-driven analytics to niche markets. Its subsidiaries develop enterprise and cloud-based software, scientific and analytical instruments, industrial and medical devices, and other applied technologies designed to solve specific operational, regulatory and commercial challenges for customers. The company emphasizes recurring revenue streams from software licenses, subscriptions and service contracts alongside sales of hardware and instruments.

Roper operates a decentralized operating model in which acquired businesses retain entrepreneurial autonomy while benefiting from centralized capital allocation, legal and financial support.