Roper Technologies, Inc. (NYSE:ROP) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Roper Technologies, Inc. (NYSE:ROP) by 0.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,688,633 shares of the industrial products company’s stock after acquiring an additional 4,724 shares during the quarter. Roper Technologies comprises about 0.8% of Principal Financial Group Inc.’s portfolio, making the stock its 21st biggest holding. Principal Financial Group Inc.’s holdings in Roper Technologies were worth $1,496,063,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. New Covenant Trust Company N.A. acquired a new stake in shares of Roper Technologies in the first quarter worth approximately $25,000. Fairscale Capital LLC purchased a new position in Roper Technologies in the 2nd quarter valued at $28,000. Fortitude Family Office LLC acquired a new stake in Roper Technologies during the 3rd quarter worth $28,000. Versant Capital Management Inc grew its holdings in shares of Roper Technologies by 58.8% during the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after buying an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Roper Technologies in the second quarter valued at about $31,000. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Price Performance

ROP stock opened at $564.67 on Thursday. Roper Technologies, Inc. has a 1 year low of $502.06 and a 1 year high of $579.10. The firm has a market capitalization of $60.55 billion, a P/E ratio of 41.31, a P/E/G ratio of 2.83 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The business’s 50-day moving average is $550.83 and its two-hundred day moving average is $546.24.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company earned $4.32 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Tuesday, October 8th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.53%. Roper Technologies’s payout ratio is currently 21.95%.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ROP has been the subject of several research reports. Truist Financial reaffirmed a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Royal Bank of Canada dropped their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Barclays upped their target price on Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, Robert W. Baird lifted their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Roper Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $620.80.

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.