CIBC Asset Management Inc Boosts Stake in Roper Technologies, Inc. (ROP)

CIBC Asset Management Inc increased its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,360 shares of the industrial products company’s stock after buying an additional 78 shares during the period. CIBC Asset Management Inc’s holdings in Roper Technologies were worth $2,167,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ROP. Motco raised its stake in shares of Roper Technologies by 387.0% in the first quarter. Motco now owns 487 shares of the industrial products company’s stock valued at $101,000 after buying an additional 387 shares during the period. Independent Portfolio Consultants Inc. raised its stake in shares of Roper Technologies by 164.7% in the second quarter. Independent Portfolio Consultants Inc. now owns 503 shares of the industrial products company’s stock valued at $116,000 after buying an additional 313 shares during the period. Private Advisor Group LLC bought a new stake in shares of Roper Technologies during the first quarter valued at about $118,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Roper Technologies by 9.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 618 shares of the industrial products company’s stock worth $129,000 after buying an additional 51 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Roper Technologies by 4.1% in the first quarter. Quadrant Capital Group LLC now owns 732 shares of the industrial products company’s stock worth $147,000 after buying an additional 29 shares during the period. Hedge funds and other institutional investors own 96.65% of the company’s stock.

Shares of Roper Technologies, Inc. (NYSE:ROP) traded down 0.48% during trading on Friday, hitting $228.20. The stock had a trading volume of 404,242 shares. The stock’s 50-day moving average price is $234.07 and its 200-day moving average price is $219.55. Roper Technologies, Inc. has a one year low of $167.50 and a one year high of $238.49. The company has a market cap of $23.33 billion, a P/E ratio of 34.17 and a beta of 1.04.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Monday, July 31st. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.02. Roper Technologies had a return on equity of 13.66% and a net margin of 16.44%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $1.56 EPS. Roper Technologies’s revenue for the quarter was up 23.2% compared to the same quarter last year. On average, equities research analysts forecast that Roper Technologies, Inc. will post $9.27 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 7th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 5th. This represents a $1.40 annualized dividend and a yield of 0.61%. Roper Technologies’s dividend payout ratio is presently 20.96%.

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A number of brokerages have issued reports on ROP. Oppenheimer Holdings, Inc. boosted their price target on shares of Roper Technologies from $250.00 to $257.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 1st. BidaskClub lowered shares of Roper Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Tuesday, August 1st. Canaccord Genuity reiterated a “hold” rating and set a $225.00 price target on shares of Roper Technologies in a research note on Tuesday, August 1st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $248.00 price target (up from $245.00) on shares of Roper Technologies in a research note on Monday, May 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Roper Technologies currently has an average rating of “Buy” and a consensus target price of $238.42.

In other Roper Technologies news, Director Wilbur J. Prezzano sold 2,000 shares of Roper Technologies stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $235.80, for a total transaction of $471,600.00. Following the sale, the director now directly owns 22,000 shares in the company, valued at approximately $5,187,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher Wright sold 1,800 shares of Roper Technologies stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $228.70, for a total value of $411,660.00. Following the sale, the director now owns 66,104 shares in the company, valued at $15,117,984.80. The disclosure for this sale can be found here. Insiders have sold a total of 6,800 shares of company stock worth $1,587,200 over the last 90 days. 2.50% of the stock is owned by company insiders.

About Roper Technologies

Institutional Ownership by Quarter for Roper Technologies (NYSE:ROP)

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