Royal Bank of Canada Trims Roper Technologies (NYSE:ROP) Target Price to $680.00

Roper Technologies (NYSE:ROP) had its target price reduced by Royal Bank of Canada from $696.00 to $680.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Several other brokerages also recently weighed in on ROP. Wells Fargo & Company lifted their target price on Roper Technologies from $560.00 to $615.00 and gave the company an overweight rating in a research note on Monday, January 22nd. Barclays lifted their price target on Roper Technologies from $596.00 to $600.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Raymond James lifted their price target on Roper Technologies from $572.00 to $620.00 and gave the company a strong-buy rating in a research report on Friday, February 2nd. Oppenheimer lifted their price target on Roper Technologies from $580.00 to $650.00 and gave the company an outperform rating in a research report on Friday, March 22nd. Finally, Mizuho lifted their price target on Roper Technologies from $525.00 to $530.00 and gave the company a neutral rating in a research report on Monday. Four 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 company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $579.83.

Roper Technologies Stock Up 0.6 %

Shares of Roper Technologies stock opened at $514.76 on Monday. The business’s fifty day moving average price is $543.08 and its two-hundred day moving average price is $533.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.49 and a quick ratio of 0.45. The company has a market capitalization of $55.10 billion, a P/E ratio of 37.36, a PEG ratio of 2.69 and a beta of 0.99. Roper Technologies has a 1-year low of $441.06 and a 1-year high of $565.00.

Roper Technologies (NYSE:ROP) last announced its earnings results on Friday, April 26th. The industrial products company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $4.34 by $0.07. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.65 billion. Roper Technologies had a return on equity of 10.75% and a net margin of 23.21%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.90 EPS. As a group, research analysts forecast that Roper Technologies will post 18.16 EPS for the current year.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Friday, April 5th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, April 4th. Roper Technologies’s payout ratio is 21.77%.

Insider Buying and Selling

In related news, Director Christopher Wright sold 200 shares of Roper Technologies stock in a transaction on Monday, March 18th. The stock was sold at an average price of $549.71, for a total value of $109,942.00. Following the transaction, the director now directly owns 35,547 shares in the company, valued at approximately $19,540,541.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.94% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ROP. Norges Bank purchased a new position in shares of Roper Technologies during the fourth quarter valued at $756,176,000. Mackenzie Financial Corp grew its holdings in shares of 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 buying an additional 280,873 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Roper Technologies by 149.7% during 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 in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Roper Technologies by 32.8% during 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 in the last quarter. Finally, iA Global Asset Management Inc. purchased a new position in shares of Roper Technologies during the third quarter valued at $82,379,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

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.