Mackenzie Financial Corp Sells 6,823 Shares of Roper Technologies, Inc. (NYSE:ROP)

Mackenzie Financial Corp trimmed its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,158,230 shares of the industrial products company’s stock after selling 6,823 shares during the quarter. Roper Technologies makes up 1.0% of Mackenzie Financial Corp’s holdings, making the stock its 21st biggest holding. Mackenzie Financial Corp’s holdings in Roper Technologies were worth $682,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in ROP. Brighton Jones LLC bought a new stake in Roper Technologies in the fourth quarter worth approximately $203,000. JPMorgan Chase & Co. increased its holdings in Roper Technologies by 54.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,022,665 shares of the industrial products company’s stock worth $531,633,000 after purchasing an additional 360,632 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in Roper Technologies by 2.3% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,050 shares of the industrial products company’s stock valued at $1,066,000 after acquiring an additional 47 shares during the period. Allstate Corp acquired a new stake in Roper Technologies in the fourth quarter valued at approximately $1,678,000. Finally, Intrust Bank NA grew its stake in Roper Technologies by 7.3% in the fourth quarter. Intrust Bank NA now owns 1,067 shares of the industrial products company’s stock valued at $555,000 after acquiring an additional 73 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ROP. Truist Financial raised their price objective on Roper Technologies from $675.00 to $685.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price objective on Roper Technologies from $561.00 to $577.00 and gave the company a “neutral” rating in a research note on Tuesday, July 22nd. William Blair initiated coverage on Roper Technologies in a research note on Monday, May 5th. They issued an “outperform” rating for the company. Robert W. Baird lifted their target price on Roper Technologies from $668.00 to $687.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Finally, Barclays reaffirmed an “underweight” rating on shares of Roper Technologies in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $637.18.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $563.03 on Monday. The business’s fifty day simple moving average is $564.04 and its 200 day simple moving average is $563.61. The firm has a market capitalization of $60.53 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.77 and a beta of 1.02. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $595.17. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 0.35.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Monday, July 21st. The industrial products company reported $4.87 EPS for the quarter, topping analysts’ consensus estimates of $4.83 by $0.04. Roper Technologies had a return on equity of 10.79% and a net margin of 22.01%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $4.48 EPS. As a group, analysts anticipate that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Tuesday, July 8th were issued a dividend of $0.825 per share. The ex-dividend date of this dividend was Tuesday, July 8th. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. Roper Technologies’s dividend payout ratio (DPR) is currently 23.19%.

Insiders Place Their Bets

In other Roper Technologies news, Director Richard F. Wallman sold 352 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $556.25, for a total value of $195,800.00. Following the sale, the director directly owned 20,510 shares in the company, valued at $11,408,687.50. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John K. Stipancich sold 1,500 shares of the business’s stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $564.17, for a total value of $846,255.00. Following the completion of the sale, the vice president owned 38,932 shares in the company, valued at approximately $21,964,266.44. The trade was a 3.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.78% 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.