Triasima Portfolio Management inc. Cuts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Triasima Portfolio Management inc. trimmed its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 31.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,557 shares of the industrial products company’s stock after selling 2,056 shares during the period. Triasima Portfolio Management inc.’s holdings in Roper Technologies were worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Roper Technologies by 1.3% in the first quarter. Vanguard Group Inc. now owns 10,072,028 shares of the industrial products company’s stock worth $5,648,796,000 after buying an additional 125,387 shares during the period. Principal Financial Group Inc. boosted its holdings in Roper Technologies by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after acquiring an additional 102,199 shares during the period. Norges Bank acquired a new stake in Roper Technologies in the fourth quarter valued at approximately $756,176,000. Bank of New York Mellon Corp raised its stake in shares of Roper Technologies by 5.5% during the first quarter. Bank of New York Mellon Corp now owns 1,314,972 shares of the industrial products company’s stock valued at $737,489,000 after purchasing an additional 68,957 shares during the period. Finally, Corient Private Wealth LLC lifted its position 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 worth $468,273,000 after purchasing an additional 211,967 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ROP shares. Wolfe Research downgraded shares of Roper Technologies from an “outperform” rating to a “peer perform” rating in a research note on Thursday, June 13th. Royal Bank of Canada lifted their target price on Roper Technologies from $674.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Jefferies Financial Group increased their price target on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a report on Friday, August 16th. Robert W. Baird upgraded Roper Technologies from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $617.00 to $635.00 in a report on Thursday, July 25th. Finally, Oppenheimer cut their target price on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Four 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. Based on data from MarketBeat.com, Roper Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $616.00.

Roper Technologies Stock Performance

Shares of NYSE:ROP traded down $7.15 during trading on Friday, reaching $547.76. 409,418 shares of the company’s stock traded hands, compared to its average volume of 340,294. The stock has a market capitalization of $58.72 billion, a P/E ratio of 39.75, a price-to-earnings-growth ratio of 2.93 and a beta of 1.02. Roper Technologies, Inc. has a 12 month low of $474.46 and a 12 month high of $579.10. The company has a 50 day moving average of $548.87 and a 200-day moving average of $544.94. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.53 and a quick ratio of 0.48.

Roper Technologies (NYSE:ROP) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.46 by $0.02. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.77% and a net margin of 22.14%. On average, equities analysts expect that Roper Technologies, Inc. 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, July 22nd. Shareholders of record on Monday, July 8th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, July 8th. Roper Technologies’s payout ratio is 21.77%.

Insider Activity

In related news, CFO Jason Conley sold 3,500 shares of Roper Technologies stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $563.02, for a total value of $1,970,570.00. Following the sale, the chief financial officer now directly owns 33,685 shares in the company, valued at approximately $18,965,328.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Jason Conley sold 3,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $563.02, for a total value of $1,970,570.00. Following the completion of the transaction, the chief financial officer now directly owns 33,685 shares of the company’s stock, valued at approximately $18,965,328.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert D. Johnson sold 140 shares of Roper Technologies stock in a transaction on Friday, July 26th. The shares were sold at an average price of $550.34, for a total value of $77,047.60. Following the sale, the director now directly owns 5,909 shares in the company, valued at approximately $3,251,959.06. The disclosure for this sale can be found here. Corporate insiders own 0.87% 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.