Millennium Management LLC Has $30.69 Million Stake in Roper Technologies Inc (ROP)
Millennium Management LLC decreased its holdings in shares of Roper Technologies Inc (NYSE:ROP) by 31.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,214 shares of the industrial products company’s stock after selling 51,952 shares during the period. Millennium Management LLC owned about 0.11% of Roper Technologies worth $30,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in ROP. Cornerstone Wealth Management LLC purchased a new position in shares of Roper Technologies during the 2nd quarter valued at approximately $113,000. Three Peaks Capital Management LLC purchased a new position in shares of Roper Technologies during the 1st quarter valued at approximately $114,000. Fort L.P. purchased a new position in shares of Roper Technologies during the 2nd quarter valued at approximately $120,000. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Roper Technologies during the 2nd quarter valued at approximately $149,000. Finally, LeJeune Puetz Investment Counsel LLC purchased a new position in shares of Roper Technologies during the 2nd quarter valued at approximately $175,000. Hedge funds and other institutional investors own 92.47% of the company’s stock.
In other news, VP Jason Conley sold 5,000 shares of Roper Technologies stock in a transaction on Monday, July 30th. The stock was sold at an average price of $299.78, for a total transaction of $1,498,900.00. Following the transaction, the vice president now owns 19,205 shares in the company, valued at approximately $5,757,274.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Wallman purchased 500 shares of Roper Technologies stock in a transaction dated Friday, July 27th. The shares were bought at an average price of $299.50 per share, for a total transaction of $149,750.00. Following the acquisition, the director now owns 52,465 shares in the company, valued at $15,713,267.50. The disclosure for this purchase can be found here. Insiders sold a total of 8,750 shares of company stock worth $2,616,258 in the last 90 days. 2.30% of the stock is currently owned by insiders.
Roper Technologies (NYSE:ROP) last announced its quarterly earnings data on Thursday, July 26th. The industrial products company reported $2.89 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.19. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.25 billion. Roper Technologies had a return on equity of 15.81% and a net margin of 21.99%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 EPS. sell-side analysts expect that Roper Technologies Inc will post 11.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 22nd. Shareholders of record on Monday, October 8th will be issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.55%. Roper Technologies’s payout ratio is currently 17.52%.
A number of research analysts have recently issued reports on the company. Argus increased their target price on Roper Technologies from $295.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. JPMorgan Chase & Co. lowered Roper Technologies from an “overweight” rating to a “neutral” rating and set a $305.00 target price on the stock. in a research report on Friday. ValuEngine lowered Roper Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Raymond James lowered Roper Technologies from a “strong-buy” rating to an “outperform” rating in a research report on Friday, July 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Roper Technologies from a “hold” rating to a “buy” rating and set a $335.00 target price on the stock in a research report on Monday, July 30th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $313.50.
About Roper Technologies
Roper Technologies, Inc designs and develops software, and engineered products and solutions. It operates in four segments: RF Technology; Medical & Scientific Imaging; Industrial Technology; and Energy Systems & Controls. The company offers radio frequency identification (RFID) communication technology and software solutions, including application management software, software-as-a-service applications, card systems/integrated security solutions, toll and traffic systems, RFID card readers, and metering and remote monitoring products.
Featured Article: Return on Equity (ROE)
Want to see what other hedge funds are holding ROP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Roper Technologies Inc (NYSE:ROP).
Receive News & Ratings for Roper Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roper Technologies and related companies with MarketBeat.com's FREE daily email newsletter.