Miracle Mile Advisors LLC Acquires 80 Shares of Roper Technologies, Inc. (NYSE:ROP)

Miracle Mile Advisors LLC increased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 4.4% in the first quarter, HoldingsChannel reports. The firm owned 1,887 shares of the industrial products company’s stock after purchasing an additional 80 shares during the period. Miracle Mile Advisors LLC’s holdings in Roper Technologies were worth $1,058,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ROP. Norges Bank bought a new stake in Roper Technologies during the fourth quarter valued at about $756,176,000. Mackenzie Financial Corp boosted its holdings in Roper Technologies by 45.6% during 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 during the period. First Trust Advisors LP lifted its stake in shares of Roper Technologies by 149.7% in the fourth 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. Corient Private Wealth LLC lifted its stake in shares of Roper Technologies by 32.8% in the fourth quarter. Corient Private Wealth LLC now owns 858,949 shares of the industrial products company’s stock valued at $468,273,000 after buying an additional 211,967 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in shares of Roper Technologies in the third quarter valued at about $82,379,000. 93.31% of the stock is currently owned by institutional investors.

Insider Activity at Roper Technologies

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

Roper Technologies Price Performance

Shares of ROP stock traded down $1.03 during trading hours on Monday, reaching $562.63. 360,342 shares of the company were exchanged, compared to its average volume of 518,659. Roper Technologies, Inc. has a fifty-two week low of $471.93 and a fifty-two week high of $569.49. The stock’s fifty day moving average is $540.08 and its two-hundred day moving average is $542.55. The company has a market cap of $60.22 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 2.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.49 and a quick ratio of 0.45.

Roper Technologies (NYSE:ROP) last announced its 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 company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the prior year, the business earned $3.90 earnings per share. Roper Technologies’s quarterly revenue was up 14.4% on a year-over-year basis. Sell-side analysts forecast that Roper Technologies, Inc. will post 18.17 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $3.00 annualized dividend and a yield of 0.53%. Roper Technologies’s dividend payout ratio is currently 21.77%.

Analyst Ratings Changes

ROP has been the subject of several research reports. Barclays increased their target price on shares of Roper Technologies from $596.00 to $600.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada cut their price target on shares of 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 cut shares of Roper Technologies from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 13th. Mizuho upped their price objective on shares of Roper Technologies from $525.00 to $530.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Roper Technologies in a research note on Monday, April 29th. Four 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’s stock. Based on data from MarketBeat.com, Roper Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $584.82.

Roper Technologies 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.