Roper Technologies’ (ROP) Buy Rating Reaffirmed at Truist Financial

Truist Financial restated their buy rating on shares of Roper Technologies (NYSE:ROP) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $660.00 price target on the industrial products company’s stock.

A number of other equities research analysts also recently weighed in on the company. Baird R W upgraded Roper Technologies from a hold rating to a strong-buy rating in a research report on Thursday, July 25th. Robert W. Baird raised Roper Technologies from a neutral rating to an outperform rating and boosted their price objective for the stock from $617.00 to $635.00 in a report on Thursday, July 25th. Barclays raised their target price on shares of Roper Technologies from $611.00 to $625.00 and gave the company an overweight rating in a research note on Wednesday, July 10th. Wolfe Research downgraded shares of Roper Technologies from an outperform rating to a peer perform rating in a research note on Thursday, June 13th. Finally, Oppenheimer reduced their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an outperform rating on the stock in a research note 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’s stock. According to data from MarketBeat.com, Roper Technologies presently has a consensus rating of Moderate Buy and a consensus price target of $616.00.

Roper Technologies Stock Up 0.6 %

Shares of NYSE ROP opened at $553.82 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.53 and a debt-to-equity ratio of 0.38. The company has a market cap of $59.28 billion, a price-to-earnings ratio of 40.19, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02. Roper Technologies has a 12-month low of $474.46 and a 12-month high of $579.10. The firm’s 50-day simple moving average is $549.94 and its 200 day simple moving average is $544.43.

Roper Technologies (NYSE:ROP) last announced its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.02. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. On average, research analysts expect that Roper Technologies will post 18.16 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.54%. Roper Technologies’s dividend payout ratio is 21.77%.

Insider Activity

In other Roper Technologies news, Director Christopher Wright sold 300 shares of Roper Technologies stock in a transaction dated 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 directly owns 35,247 shares in the company, valued at $19,550,453.49. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Christopher Wright sold 300 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 35,247 shares of the company’s stock, valued at approximately $19,550,453.49. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jason Conley sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total transaction of $1,970,570.00. Following the sale, the chief financial officer now owns 33,685 shares in the company, valued at $18,965,328.70. The disclosure for this sale can be found here. Insiders sold 3,940 shares of company stock valued at $2,214,019 in the last quarter. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Roper Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cetera Investment Advisers lifted its holdings in shares of Roper Technologies by 4.1% in the second quarter. Cetera Investment Advisers now owns 21,178 shares of the industrial products company’s stock valued at $11,937,000 after purchasing an additional 838 shares in the last quarter. SPC Financial Inc. raised its position in Roper Technologies by 1,086.7% in the 2nd quarter. SPC Financial Inc. now owns 5,625 shares of the industrial products company’s stock valued at $3,171,000 after buying an additional 5,151 shares during the last quarter. Ted Buchan & Co bought a new stake in Roper Technologies in the 2nd quarter valued at approximately $325,000. Truist Financial Corp boosted its position in Roper Technologies by 2.4% during the 2nd quarter. Truist Financial Corp now owns 9,986 shares of the industrial products company’s stock worth $5,629,000 after acquiring an additional 238 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in shares of Roper Technologies by 15.9% during the 2nd quarter. EP Wealth Advisors LLC now owns 570 shares of the industrial products company’s stock worth $321,000 after acquiring an additional 78 shares in the last quarter. 93.31% of the stock is owned by institutional investors and hedge funds.

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.