Palisade Capital Management LLC NJ Grows Position in Roper Technologies, Inc. (ROP)
Palisade Capital Management LLC NJ boosted its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 5.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,478 shares of the industrial products company’s stock after buying an additional 738 shares during the period. Palisade Capital Management LLC NJ’s holdings in Roper Technologies were worth $3,524,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in ROP. Oppenheimer Asset Management Inc. acquired a new stake in Roper Technologies during the first quarter worth about $362,000. Independent Portfolio Consultants Inc. grew its stake in Roper Technologies by 164.7% during the second quarter. Independent Portfolio Consultants Inc. now owns 503 shares of the industrial products company’s stock worth $116,000 after buying an additional 313 shares in the last quarter. Trust Co grew its stake in Roper Technologies by 14.3% during the first quarter. Trust Co now owns 1,282 shares of the industrial products company’s stock worth $264,000 after buying an additional 160 shares in the last quarter. Guinness Asset Management Ltd grew its stake in Roper Technologies by 6.7% during the second quarter. Guinness Asset Management Ltd now owns 14,580 shares of the industrial products company’s stock worth $3,376,000 after buying an additional 920 shares in the last quarter. Finally, Fulton Bank N.A. acquired a new stake in Roper Technologies during the second quarter worth about $236,000. Hedge funds and other institutional investors own 94.22% of the company’s stock.
Shares of Roper Technologies, Inc. (NYSE ROP) opened at $258.06 on Friday. Roper Technologies, Inc. has a one year low of $169.42 and a one year high of $261.07. The company has a quick ratio of 1.00, a current ratio of 1.07 and a debt-to-equity ratio of 0.76. The firm has a market cap of $26,378.89, a P/E ratio of 30.11, a PEG ratio of 2.25 and a beta of 1.06.
Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Monday, October 30th. The industrial products company reported $2.36 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.17 billion. Roper Technologies had a net margin of 16.17% and a return on equity of 14.47%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS. sell-side analysts anticipate that Roper Technologies, Inc. will post 9.31 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 20th. Investors of record on Friday, October 6th were issued a $0.35 dividend. The ex-dividend date was Thursday, October 5th. This represents a $1.40 dividend on an annualized basis and a yield of 0.54%. Roper Technologies’s dividend payout ratio (DPR) is presently 20.32%.
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ROP has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $273.00 price objective on the stock in a research note on Monday, October 2nd. Cowen and Company reiterated a “buy” rating and set a $250.00 price objective on shares of Roper Technologies in a research note on Thursday, October 12th. BidaskClub downgraded shares of Roper Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $248.00 price objective on shares of Roper Technologies in a research note on Wednesday, July 12th. Finally, Robert W. Baird increased their price objective on shares of Roper Technologies from $238.00 to $257.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $249.15.
In related news, Director Robert D. Johnson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $234.97, for a total value of $469,940.00. Following the completion of the transaction, the director now owns 10,900 shares in the company, valued at approximately $2,561,173. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert E. Knowling, Jr. sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $259.51, for a total transaction of $1,038,040.00. Following the completion of the transaction, the director now owns 14,038 shares of the company’s stock, valued at approximately $3,643,001.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,500 shares of company stock valued at $3,792,570. 2.50% of the stock is owned by company insiders.
About Roper Technologies
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