Cornerstone Advisors LLC Lowers Position in Roper Technologies, Inc. (NYSE:ROP)

Cornerstone Advisors LLC cut its stake in Roper Technologies, Inc. (NYSE:ROPFree Report) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,700 shares of the industrial products company’s stock after selling 1,400 shares during the period. Cornerstone Advisors LLC’s holdings in Roper Technologies were worth $3,653,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ROP. Altshuler Shaham Ltd acquired a new stake in shares of Roper Technologies in the third quarter valued at approximately $27,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Roper Technologies during the 4th quarter worth approximately $31,000. Independence Bank of Kentucky acquired a new position in shares of Roper Technologies in the fourth quarter worth $31,000. VisionPoint Advisory Group LLC purchased a new position in Roper Technologies in the 4th quarter valued at about $32,000. Finally, Lee Financial Co acquired a new stake in Roper Technologies during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Buying and Selling

In other Roper Technologies news, Director Christopher Wright sold 200 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $549.71, for a total value of $109,942.00. Following the transaction, the director now directly owns 35,547 shares in the company, valued at approximately $19,540,541.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by insiders.

Roper Technologies Stock Up 0.6 %

ROP stock traded up $3.41 during midday trading on Monday, reaching $545.30. 266,475 shares of the company’s stock traded hands, compared to its average volume of 519,388. The company has a quick ratio of 0.45, a current ratio of 0.49 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $537.60 and its 200-day moving average price is $537.38. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 31.47, a P/E/G ratio of 2.84 and a beta of 1.00. Roper Technologies, Inc. has a 52 week low of $441.06 and a 52 week high of $565.00.

Roper Technologies (NYSE:ROPGet Free Report) last released its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share for the quarter, beating analysts’ consensus estimates of $4.34 by $0.07. Roper Technologies had a net margin of 23.21% and a return on equity of 10.75%. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the company earned $3.90 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts forecast that Roper Technologies, Inc. will post 18.15 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Friday, April 5th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a $3.00 annualized dividend and a yield of 0.55%. Roper Technologies’s dividend payout ratio is currently 21.77%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ROP. Royal Bank of Canada cut their price objective on Roper Technologies from $696.00 to $680.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Barclays increased their price objective on shares of Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. 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 raised their target price on shares of Roper Technologies from $572.00 to $620.00 and gave the stock a “strong-buy” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Roper Technologies from $560.00 to $615.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $584.82.

Read Our Latest Research Report on Roper Technologies

Roper Technologies Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Roper Technologies (NYSE:ROP)

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