Penobscot Investment Management Company Inc. Increases Position in Roper Technologies, Inc. (NYSE:ROP)

Penobscot Investment Management Company Inc. lifted its holdings in Roper Technologies, Inc. (NYSE:ROP) by 5.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,367 shares of the industrial products company’s stock after purchasing an additional 324 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Roper Technologies were worth $3,754,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Roper Technologies by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 10,575,103 shares of the industrial products company’s stock valued at $5,497,467,000 after purchasing an additional 72,503 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Roper Technologies by 42.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 5,151,502 shares of the industrial products company’s stock valued at $2,678,009,000 after purchasing an additional 1,529,716 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Roper Technologies by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 2,476,210 shares of the industrial products company’s stock valued at $1,284,242,000 after purchasing an additional 29,184 shares in the last quarter. Norges Bank purchased a new position in shares of Roper Technologies in the 4th quarter valued at about $914,052,000. Finally, Invesco Ltd. increased its stake in shares of Roper Technologies by 2.2% in the 4th quarter. Invesco Ltd. now owns 1,490,212 shares of the industrial products company’s stock valued at $774,687,000 after purchasing an additional 31,531 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analyst Ratings Changes

ROP has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Roper Technologies from $470.00 to $561.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Robert W. Baird boosted their price objective on Roper Technologies from $660.00 to $668.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 29th. Mizuho set a $600.00 price objective on Roper Technologies in a research note on Friday, May 16th. Oppenheimer reiterated an “outperform” rating and set a $640.00 price objective on shares of Roper Technologies in a research note on Monday, April 28th. Finally, Barclays reiterated an “underweight” rating on shares of Roper Technologies in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Roper Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $632.36.

Roper Technologies Trading Down 0.7%

Shares of Roper Technologies stock opened at $566.94 on Thursday. The stock has a market cap of $60.95 billion, a P/E ratio of 39.54, a P/E/G ratio of 2.77 and a beta of 1.03. The stock’s 50 day simple moving average is $566.23 and its 200-day simple moving average is $558.29. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.40 and a quick ratio of 0.37.

Roper Technologies (NYSE:ROP) last issued its earnings results on Monday, April 28th. The industrial products company reported $4.78 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.04. Roper Technologies had a return on equity of 10.79% and a net margin of 22.01%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.41 EPS. Analysts predict that Roper Technologies, Inc. will post 19.96 EPS for the current fiscal year.

Roper Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Tuesday, July 8th will be issued a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Tuesday, July 8th. Roper Technologies’s dividend payout ratio is presently 23.81%.

Roper Technologies Profile

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.