Northwestern Mutual Investment Management Company LLC increased its holdings in shares of Roper Technologies Inc (NYSE:ROP) by 34.3% in the 1st quarter, HoldingsChannel reports. The firm owned 5,428 shares of the industrial products company’s stock after acquiring an additional 1,386 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Roper Technologies were worth $1,693,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROP. Norges Bank acquired a new stake in Roper Technologies during the fourth quarter worth approximately $324,874,000. Alliancebernstein L.P. grew its stake in Roper Technologies by 53.6% in the fourth quarter. Alliancebernstein L.P. now owns 1,477,114 shares of the industrial products company’s stock valued at $523,238,000 after acquiring an additional 515,450 shares during the period. Parnassus Investments CA acquired a new stake in Roper Technologies in the first quarter valued at approximately $103,689,000. Loomis Sayles & Co. L P grew its stake in Roper Technologies by 47.6% in the fourth quarter. Loomis Sayles & Co. L P now owns 724,442 shares of the industrial products company’s stock valued at $256,619,000 after acquiring an additional 233,622 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake in Roper Technologies by 6.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,123,689 shares of the industrial products company’s stock valued at $752,273,000 after acquiring an additional 134,374 shares during the period. 92.73% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. Wells Fargo & Co reduced their price objective on Roper Technologies from $400.00 to $390.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Royal Bank of Canada raised their price objective on Roper Technologies from $395.00 to $440.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Argus reduced their price objective on Roper Technologies from $410.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. Cowen raised their price objective on Roper Technologies from $400.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Finally, Barclays restated a “hold” rating and issued a $340.00 target price on shares of Roper Technologies in a report on Wednesday, April 29th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $386.70.
In related news, VP John K. Stipancich sold 4,000 shares of Roper Technologies stock in a transaction on Monday, May 18th. The stock was sold at an average price of $370.00, for a total transaction of $1,480,000.00. Following the sale, the vice president now directly owns 38,044 shares in the company, valued at $14,076,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christopher Wright sold 3,000 shares of Roper Technologies stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $268.11, for a total value of $804,330.00. Following the sale, the director now owns 53,524 shares in the company, valued at $14,350,319.64. The disclosure for this sale can be found here. Insiders have sold 10,500 shares of company stock worth $3,529,105 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.
ROP stock opened at $367.06 on Friday. Roper Technologies Inc has a twelve month low of $240.00 and a twelve month high of $395.00. The company has a quick ratio of 0.87, a current ratio of 0.96 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $331.13 and its 200-day moving average is $348.18. The firm has a market capitalization of $38.11 billion, a PE ratio of 23.56, a P/E/G ratio of 2.86 and a beta of 1.03.
Roper Technologies (NYSE:ROP) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $3.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.91 by $0.14. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. Roper Technologies had a return on equity of 14.94% and a net margin of 30.17%. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the company earned $3.30 earnings per share. On average, equities research analysts anticipate that Roper Technologies Inc will post 12.14 earnings per share for the current fiscal year.
About Roper Technologies
Roper Technologies, Inc designs and develops software, and engineered products and solutions worldwide. The company operates in four segments: Application Software; Network Software & Systems; Measurement & Analytical Solutions; and Process Technologies. It offers application management software, software-as-a-service applications, card systems/integrated security, toll and traffic systems, radio frequency identification card readers, and metering and remote monitoring products.
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