Illinois Municipal Retirement Fund Raises Stake in Roper Technologies, Inc. (NYSE:ROP)

Illinois Municipal Retirement Fund lifted its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 36.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,292 shares of the industrial products company’s stock after acquiring an additional 1,156 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Roper Technologies were worth $2,340,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROP. Vanguard Group Inc. lifted its holdings in shares of Roper Technologies by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 9,782,155 shares of the industrial products company’s stock worth $4,737,302,000 after acquiring an additional 100,621 shares during the period. Principal Financial Group Inc. grew its position in Roper Technologies by 1.7% in the third quarter. Principal Financial Group Inc. now owns 2,528,982 shares of the industrial products company’s stock valued at $1,224,736,000 after acquiring an additional 42,962 shares in the last quarter. Northern Trust Corp grew its position in Roper Technologies by 5.0% in the third quarter. Northern Trust Corp now owns 1,137,241 shares of the industrial products company’s stock valued at $550,743,000 after acquiring an additional 54,396 shares in the last quarter. Invesco Ltd. grew its position in Roper Technologies by 1.0% in the third quarter. Invesco Ltd. now owns 1,033,556 shares of the industrial products company’s stock valued at $500,531,000 after acquiring an additional 9,846 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Roper Technologies by 45.6% in the fourth quarter. Mackenzie Financial Corp now owns 896,909 shares of the industrial products company’s stock valued at $488,968,000 after acquiring an additional 280,873 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. TD Cowen downgraded shares of Roper Technologies from an “outperform” rating to a “market perform” rating and set a $535.00 price objective for the company. in a research report on Thursday, January 4th. Wells Fargo & Company increased their price objective on shares of Roper Technologies from $560.00 to $615.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Royal Bank of Canada increased their target price on Roper Technologies from $620.00 to $622.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Mizuho raised their price objective on Roper Technologies from $500.00 to $525.00 and gave the stock a “neutral” rating in a research note on Thursday, February 1st. Finally, Barclays raised their price objective on Roper Technologies from $596.00 to $600.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $574.58.

Insider Buying and Selling

In related news, Director Christopher Wright sold 200 shares of Roper Technologies stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $549.71, for a total transaction of $109,942.00. Following the transaction, the director now directly owns 35,547 shares of the company’s stock, valued at $19,540,541.37. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.94% of the stock is owned by corporate insiders.

Roper Technologies Stock Performance

ROP stock opened at $540.41 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.46 and a current ratio of 0.50. The stock has a market capitalization of $57.83 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.83 and a beta of 0.99. Roper Technologies, Inc. has a 1 year low of $430.03 and a 1 year high of $565.00. The stock’s fifty day moving average is $545.43 and its two-hundred day moving average is $533.17.

Roper Technologies (NYSE:ROP) last posted its earnings results on Wednesday, January 31st. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.34 by $0.03. The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Roper Technologies had a return on equity of 10.63% and a net margin of 22.41%. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business posted $3.92 earnings per share. On average, research analysts predict that Roper Technologies, Inc. will post 18.08 EPS for the current year.

Roper Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Friday, April 5th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Thursday, April 4th. Roper Technologies’s payout ratio is currently 23.27%.

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.