State of Michigan Retirement System Raises Stock Position in Roper Technologies, Inc. (NYSE:ROP)

State of Michigan Retirement System grew its stake in Roper Technologies, Inc. (NYSE:ROP) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,311 shares of the industrial products company’s stock after purchasing an additional 100 shares during the quarter. State of Michigan Retirement System’s holdings in Roper Technologies were worth $16,439,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROP. Rise Advisors LLC acquired a new stake in Roper Technologies in the first quarter valued at $27,000. Wetzel Investment Advisors Inc. acquired a new stake in Roper Technologies in the 4th quarter valued at about $31,000. Independence Bank of Kentucky purchased a new stake in shares of Roper Technologies in the fourth quarter worth approximately $31,000. VisionPoint Advisory Group LLC acquired a new position in Roper Technologies during the fourth quarter valued at approximately $32,000. Finally, Grayhawk Investment Strategies Inc. bought a new stake in shares of Roper Technologies in the fourth quarter valued at approximately $38,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Christopher Wright sold 300 shares of Roper Technologies stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $554.67, for a total value of $166,401.00. Following the sale, the director now directly owns 35,247 shares in the company, valued at approximately $19,550,453.49. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Jason Conley sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $563.02, for a total transaction of $1,970,570.00. Following the completion of the sale, the chief financial officer now directly owns 33,685 shares of the company’s stock, valued at $18,965,328.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christopher Wright sold 300 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $554.67, for a total transaction of $166,401.00. Following the transaction, the director now owns 35,247 shares of the company’s stock, valued at approximately $19,550,453.49. The disclosure for this sale can be found here. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ROP. Oppenheimer restated an “outperform” rating and set a $650.00 target price on shares of Roper Technologies in a research report on Monday, April 29th. Mizuho increased their target price on Roper Technologies from $525.00 to $530.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Royal Bank of Canada decreased their price target on Roper Technologies from $696.00 to $680.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Wolfe Research lowered Roper Technologies from an “outperform” rating to a “peer perform” rating in a report on Thursday, June 13th. Finally, Barclays boosted their price objective on Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $584.82.

Roper Technologies Stock Performance

Shares of ROP stock opened at $563.11 on Wednesday. The company has a quick ratio of 0.45, a current ratio of 0.49 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 52 week low of $471.93 and a 52 week high of $569.49. The stock has a market capitalization of $60.28 billion, a PE ratio of 40.86, a P/E/G ratio of 2.95 and a beta of 1.02. The firm has a 50 day moving average of $540.55 and a two-hundred day moving average of $542.71.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business posted $3.90 earnings per share. The business’s revenue was up 14.4% compared to the same quarter last year. On average, research analysts predict that Roper Technologies, Inc. will post 18.17 EPS for the current fiscal year.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a yield of 0.53%. Roper Technologies’s dividend payout ratio (DPR) is currently 21.77%.

Roper Technologies Company Profile

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.