Contravisory Investment Management Inc. reduced its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 3.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 30,767 shares of the industrial products company’s stock after selling 1,201 shares during the period. Roper Technologies comprises about 2.6% of Contravisory Investment Management Inc.’s portfolio, making the stock its 6th largest position. Contravisory Investment Management Inc.’s holdings in Roper Technologies were worth $7,123,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Motco boosted its stake in Roper Technologies by 387.0% in the first quarter. Motco now owns 487 shares of the industrial products company’s stock valued at $101,000 after buying an additional 387 shares during the period. Independent Portfolio Consultants Inc. raised its position in shares of Roper Technologies by 164.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 503 shares of the industrial products company’s stock valued at $116,000 after buying an additional 313 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Roper Technologies during the first quarter valued at $118,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Roper Technologies by 9.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 618 shares of the industrial products company’s stock valued at $129,000 after buying an additional 51 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Roper Technologies by 4.1% in the first quarter. Quadrant Capital Group LLC now owns 732 shares of the industrial products company’s stock valued at $147,000 after buying an additional 29 shares in the last quarter. 96.89% of the stock is currently owned by institutional investors and hedge funds.
Shares of Roper Technologies, Inc. (ROP) opened at 233.76 on Thursday. The stock has a 50 day moving average of $232.81 and a 200-day moving average of $214.69. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 36.08 and a beta of 1.05. Roper Technologies, Inc. has a 1-year low of $166.98 and a 1-year high of $238.49.
Roper Technologies (NYSE:ROP) last released its quarterly earnings results on Friday, April 28th. The industrial products company reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.12. Roper Technologies had a net margin of 16.74% and a return on equity of 12.81%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $1.81 earnings per share. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. Analysts forecast that Roper Technologies, Inc. will post $9.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 7th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Wednesday, July 5th. Roper Technologies’s dividend payout ratio is presently 21.60%.
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Several brokerages recently weighed in on ROP. BidaskClub lowered shares of Roper Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday. Royal Bank Of Canada restated a “buy” rating and set a $248.00 price objective on shares of Roper Technologies in a report on Wednesday, July 12th. Zacks Investment Research lowered shares of Roper Technologies from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Raymond James Financial, Inc. raised their price objective on shares of Roper Technologies from $253.00 to $268.00 in a report on Wednesday, July 5th. Finally, Stifel Nicolaus restated a “buy” rating and set a $242.00 price objective on shares of Roper Technologies in a report on Friday, July 7th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Roper Technologies presently has a consensus rating of “Buy” and a consensus target price of $232.09.
In other news, Director Christopher Wright sold 1,800 shares of Roper Technologies stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $228.70, for a total value of $411,660.00. Following the completion of the transaction, the director now owns 66,104 shares of the company’s stock, valued at approximately $15,117,984.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by insiders.
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