Principal Financial Group Inc. Raises Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Principal Financial Group Inc. raised its stake in Roper Technologies, Inc. (NYSE:ROP) by 0.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,688,633 shares of the industrial products company’s stock after purchasing an additional 4,724 shares during the period. Roper Technologies accounts for approximately 0.8% of Principal Financial Group Inc.’s investment portfolio, making the stock its 21st largest holding. Principal Financial Group Inc. owned about 2.51% of Roper Technologies worth $1,496,063,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in shares of Roper Technologies during the first quarter worth $25,000. Fairscale Capital LLC acquired a new position in Roper Technologies during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC purchased a new stake in Roper Technologies in the third quarter valued at about $28,000. Versant Capital Management Inc boosted its holdings in Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Roper Technologies during the second quarter worth about $31,000. 93.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ROP has been the subject of several research analyst reports. Barclays increased their price objective on shares of Roper Technologies from $611.00 to $625.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Mizuho lifted their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Jefferies Financial Group upped their target price on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada lowered 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. Finally, Robert W. Baird increased their price objective on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Roper Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Stock Up 4.0 %

Roper Technologies stock opened at $564.67 on Thursday. The business’s 50-day moving average price is $550.83 and its 200 day moving average price is $546.24. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The firm has a market cap of $60.55 billion, a price-to-earnings ratio of 41.31, a price-to-earnings-growth ratio of 2.83 and a beta of 1.03. Roper Technologies, Inc. has a 52 week low of $502.06 and a 52 week high of $579.10.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business 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 EPS. The business’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Announces Dividend

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

Insider Transactions at Roper Technologies

In related 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 value of $550,000.00. Following the completion of the transaction, the director now owns 32,955 shares in the company, valued at $18,125,250. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company’s stock.

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.