California Public Employees Retirement System cut its stake in shares of Roper Technologies Inc (NYSE:ROP) by 2.8% in the 1st quarter, Holdings Channel reports. The fund owned 175,542 shares of the industrial products company’s stock after selling 4,988 shares during the quarter. California Public Employees Retirement System’s holdings in Roper Technologies were worth $60,030,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Cutler Group LP acquired a new stake in Roper Technologies during the fourth quarter worth approximately $26,000. Berman Capital Advisors LLC acquired a new stake in Roper Technologies during the fourth quarter worth approximately $26,000. Pinnacle Bank acquired a new stake in Roper Technologies during the fourth quarter worth approximately $26,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Roper Technologies during the first quarter worth approximately $27,000. Finally, Proficio Capital Partners LLC lifted its position in Roper Technologies by 115.8% during the fourth quarter. Proficio Capital Partners LLC now owns 123 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 92.49% of the company’s stock.
Several equities research analysts have issued reports on the stock. Stephens raised their price objective on shares of Roper Technologies from $390.00 to $402.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 30th. Argus raised their price objective on shares of Roper Technologies from $330.00 to $365.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Raymond James raised their price objective on shares of Roper Technologies from $330.00 to $370.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Oppenheimer raised their price objective on shares of Roper Technologies from $335.00 to $375.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Barclays lifted their price target on shares of Roper Technologies from $316.00 to $330.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $349.90.
Roper Technologies (NYSE:ROP) last released its quarterly earnings results on Thursday, April 25th. The industrial products company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.52. Roper Technologies had a net margin of 20.90% and a return on equity of 17.00%. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business earned $2.61 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Roper Technologies Inc will post 12.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were given a $0.4625 dividend. The ex-dividend date was Friday, April 5th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 0.53%. Roper Technologies’s payout ratio is 15.66%.
In related news, CFO Robert Crisci sold 4,000 shares of Roper Technologies stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $307.44, for a total value of $1,229,760.00. Following the transaction, the chief financial officer now directly owns 41,968 shares of the company’s stock, valued at $12,902,641.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wilbur J. Prezzano sold 6,000 shares of Roper Technologies stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $311.61, for a total transaction of $1,869,660.00. Following the completion of the transaction, the director now directly owns 20,206 shares in the company, valued at $6,296,391.66. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,500 shares of company stock valued at $3,918,230. 2.30% of the stock is owned by company insiders.
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Roper Technologies Profile
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.
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