King Luther Capital Management Corp Sells 16,861 Shares of Roper Technologies, Inc. (NYSE:ROP)

King Luther Capital Management Corp cut its holdings in Roper Technologies, Inc. (NYSE:ROP) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 600,181 shares of the industrial products company’s stock after selling 16,861 shares during the period. Roper Technologies makes up approximately 1.5% of King Luther Capital Management Corp’s portfolio, making the stock its 15th biggest position. King Luther Capital Management Corp owned approximately 0.56% of Roper Technologies worth $338,298,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of Roper Technologies by 149.7% in the 4th quarter. First Trust Advisors LP now owns 366,981 shares of the industrial products company’s stock valued at $200,067,000 after buying an additional 220,006 shares during the period. Wellington Management Group LLP raised its position in shares of Roper Technologies by 134.5% during the fourth quarter. Wellington Management Group LLP now owns 272,763 shares of the industrial products company’s stock worth $148,702,000 after purchasing an additional 156,468 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Roper Technologies by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock worth $5,648,796,000 after purchasing an additional 125,387 shares in the last quarter. American Century Companies Inc. grew its position in Roper Technologies by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock valued at $341,448,000 after purchasing an additional 118,971 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Roper Technologies by 4.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock valued at $1,512,813,000 after purchasing an additional 102,199 shares in the last quarter. 93.31% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Roper Technologies

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $550.34, for a total value of $77,047.60. Following the sale, the director now directly owns 5,909 shares in the company, valued at approximately $3,251,959.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ROP shares. Truist Financial reissued a “buy” rating and set a $660.00 target price on shares of Roper Technologies in a research report on Tuesday, August 27th. Royal Bank of Canada boosted their price objective on Roper Technologies from $674.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Wolfe Research cut Roper Technologies from an “outperform” rating to a “peer perform” rating in a research report on Thursday, June 13th. Robert W. Baird upgraded Roper Technologies from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $617.00 to $635.00 in a research note on Thursday, July 25th. Finally, Oppenheimer lowered their target price on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $616.00.

Roper Technologies Trading Up 2.0 %

Shares of ROP opened at $560.86 on Friday. Roper Technologies, Inc. has a fifty-two week low of $474.46 and a fifty-two week high of $579.10. The business has a 50-day moving average of $547.92 and a 200 day moving average of $545.22. The firm has a market cap of $60.12 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 2.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.53.

Roper Technologies (NYSE:ROP) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.48 EPS for the quarter, topping the consensus estimate of $4.46 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. As a group, research analysts forecast that Roper Technologies, Inc. will post 18.16 EPS for the current year.

Roper Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Tuesday, October 8th. Roper Technologies’s dividend payout ratio is presently 21.77%.

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.