Sumitomo Mitsui Trust Group Inc. Raises Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Roper Technologies, Inc. (NYSE:ROP) by 2.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 286,552 shares of the industrial products company’s stock after buying an additional 5,571 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.27% of Roper Technologies worth $159,449,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ROP. Empowered Funds LLC raised its position in Roper Technologies by 159.1% during the first quarter. Empowered Funds LLC now owns 3,293 shares of the industrial products company’s stock worth $1,847,000 after acquiring an additional 2,022 shares during the period. Sei Investments Co. lifted its stake in Roper Technologies by 5.6% in the 1st quarter. Sei Investments Co. now owns 29,414 shares of the industrial products company’s stock valued at $16,495,000 after buying an additional 1,553 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Roper Technologies by 24.6% in the 1st quarter. QRG Capital Management Inc. now owns 1,872 shares of the industrial products company’s stock worth $1,050,000 after buying an additional 369 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in Roper Technologies by 16.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 509 shares of the industrial products company’s stock worth $285,000 after buying an additional 71 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in shares of Roper Technologies by 4.6% during the first quarter. Bleakley Financial Group LLC now owns 2,167 shares of the industrial products company’s stock valued at $1,215,000 after acquiring an additional 95 shares during the last quarter. 93.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROP has been the subject of several research reports. Mizuho boosted their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer reduced their target price on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Robert W. Baird boosted their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Baird R W upgraded shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group boosted their target price on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Price Performance

NYSE:ROP opened at $564.77 on Wednesday. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10. The stock’s fifty day moving average is $551.68 and its two-hundred day moving average is $546.91. The company has a market capitalization of $60.56 billion, a P/E ratio of 31.61, a P/E/G ratio of 2.95 and a beta of 1.03. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41.

Roper Technologies (NYSE:ROP) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company posted $4.32 earnings per share. Roper Technologies’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts expect that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a $0.825 dividend. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. Roper Technologies’s payout ratio is presently 21.95%.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by insiders.

About Roper Technologies

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.