Welch & Forbes LLC Acquires 1,122 Shares of Roper Technologies, Inc. (NYSE:ROP)

Welch & Forbes LLC grew its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 195,657 shares of the industrial products company’s stock after buying an additional 1,122 shares during the period. Roper Technologies accounts for 1.6% of Welch & Forbes LLC’s portfolio, making the stock its 16th largest position. Welch & Forbes LLC’s holdings in Roper Technologies were worth $106,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Roper Technologies by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 9,782,155 shares of the industrial products company’s stock valued at $4,737,302,000 after acquiring an additional 100,621 shares in the last quarter. Principal Financial Group Inc. boosted its position in Roper Technologies by 1.7% during the 3rd quarter. Principal Financial Group Inc. now owns 2,528,982 shares of the industrial products company’s stock valued at $1,224,736,000 after acquiring an additional 42,962 shares in the last quarter. Northern Trust Corp boosted its position 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 valued at $550,743,000 after acquiring an additional 54,396 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Roper Technologies by 1.0% during the 3rd quarter. Invesco Ltd. now owns 1,033,556 shares of the industrial products company’s stock valued at $500,531,000 after purchasing an additional 9,846 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Roper Technologies by 45.6% during the 4th quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock valued at $488,968,000 after purchasing an additional 280,873 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ROP has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on Roper Technologies from $560.00 to $615.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Mizuho boosted their price target on shares of Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Raymond James lifted their price target on shares of Roper Technologies from $572.00 to $620.00 and gave the company a “strong-buy” rating in a research report on Friday, February 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $650.00 target price on shares of Roper Technologies in a research note on Monday, April 29th. Finally, Royal Bank of Canada lowered their price objective on shares of Roper Technologies from $696.00 to $680.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $584.82.

Roper Technologies Stock Down 0.3 %

NYSE:ROP traded down $1.67 during midday trading on Monday, hitting $515.54. 651,690 shares of the company were exchanged, compared to its average volume of 525,328. The company has a fifty day simple moving average of $540.75 and a 200 day simple moving average of $534.55. Roper Technologies, Inc. has a fifty-two week low of $441.06 and a fifty-two week high of $565.00. The company has a current ratio of 0.49, a quick ratio of 0.45 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $55.18 billion, a PE ratio of 37.41, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Friday, April 26th. The industrial products company reported $4.41 EPS for the quarter, beating analysts’ consensus estimates of $4.34 by $0.07. The company had revenue of $1.68 billion for 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%. Roper Technologies’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.90 earnings per share. As a group, equities analysts anticipate that Roper Technologies, Inc. will post 18.16 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 $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Thursday, April 4th. Roper Technologies’s payout ratio is 21.77%.

Insider Activity

In other news, Director Christopher Wright sold 200 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $549.71, for a total transaction of $109,942.00. Following the completion of the transaction, the director now directly owns 35,547 shares of the company’s stock, valued at approximately $19,540,541.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.94% of the company’s stock.

Roper Technologies Company 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.