Jacobi Capital Management LLC Increases Stake in Roper Technologies, Inc. (NYSE:ROP)

Jacobi Capital Management LLC grew its position in Roper Technologies, Inc. (NYSE:ROP) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 4,270 shares of the industrial products company’s stock after purchasing an additional 77 shares during the period. Jacobi Capital Management LLC’s holdings in Roper Technologies were worth $2,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Roper Technologies by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,782,155 shares of the industrial products company’s stock worth $4,737,302,000 after buying an additional 100,621 shares during the period. Norges Bank bought a new position in Roper Technologies during the 4th quarter worth about $756,176,000. Northern Trust Corp grew its holdings in Roper Technologies by 5.0% during the 3rd quarter. Northern Trust Corp now owns 1,137,241 shares of the industrial products company’s stock worth $550,743,000 after acquiring an additional 54,396 shares in the last quarter. Invesco Ltd. grew its holdings in Roper Technologies by 1.0% during the 3rd quarter. Invesco Ltd. now owns 1,033,556 shares of the industrial products company’s stock worth $500,531,000 after acquiring an additional 9,846 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Roper Technologies by 45.6% during the 4th quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock worth $488,968,000 after acquiring an additional 280,873 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analysts Set New Price Targets

ROP has been the topic of several recent research reports. Mizuho increased their target price on shares of Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Royal Bank of Canada lowered their price target on shares of Roper Technologies from $696.00 to $680.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Barclays raised their price target on shares of Roper Technologies from $596.00 to $600.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $650.00 target price on shares of Roper Technologies in a research note on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $584.82.

Roper Technologies Stock Performance

ROP traded down $3.08 during trading on Tuesday, reaching $553.42. 70,535 shares of the company’s stock were exchanged, compared to its average volume of 514,353. Roper Technologies, Inc. has a 1 year low of $448.13 and a 1 year high of $565.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.49 and a quick ratio of 0.45. The stock has a market capitalization of $59.24 billion, a P/E ratio of 40.38, a price-to-earnings-growth ratio of 2.91 and a beta of 1.01. The company’s fifty day simple moving average is $534.05 and its 200-day simple moving average is $540.30.

Roper Technologies (NYSE:ROP) last posted its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.07. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.65 billion. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.90 EPS. As a group, research analysts predict that Roper Technologies, Inc. will post 18.15 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Friday, April 5th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Thursday, April 4th. Roper Technologies’s dividend payout ratio (DPR) is 21.77%.

Insider Activity

In other news, Director Christopher Wright sold 300 shares of Roper Technologies stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $554.67, for a total transaction of $166,401.00. Following the completion of the transaction, the director now directly owns 35,247 shares of the company’s stock, valued at approximately $19,550,453.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.87% of the company’s stock.

About Roper Technologies

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.