Westpac Banking Corp Sells 76 Shares of Roper Technologies, Inc. (NYSE:ROP)

Westpac Banking Corp trimmed its holdings in Roper Technologies, Inc. (NYSE:ROP) by 9.9% in the 1st quarter, Holdings Channel reports. The fund owned 688 shares of the industrial products company’s stock after selling 76 shares during the quarter. Westpac Banking Corp’s holdings in Roper Technologies were worth $406,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ROP. MorganRosel Wealth Management LLC bought a new position in shares of Roper Technologies in the 1st quarter worth about $27,000. Putney Financial Group LLC bought a new stake in Roper Technologies during the 4th quarter valued at about $31,000. Olde Wealth Management LLC bought a new stake in Roper Technologies during the 1st quarter valued at about $31,000. Wayfinding Financial LLC bought a new stake in Roper Technologies during the 1st quarter valued at about $31,000. Finally, Alpine Bank Wealth Management bought a new stake in Roper Technologies during the 1st quarter valued at about $34,000. 93.31% of the stock is currently owned by institutional investors.

Insider Activity at Roper Technologies

In other news, VP John K. Stipancich sold 1,500 shares of Roper Technologies stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $564.17, for a total transaction of $846,255.00. Following the sale, the vice president owned 38,932 shares in the company, valued at $21,964,266.44. This trade represents a 3.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $195,800.00. Following the completion of the sale, the director owned 20,510 shares in the company, valued at $11,408,687.50. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. 0.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Roper Technologies from $685.00 to $650.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Mizuho set a $600.00 price objective on shares of Roper Technologies in a research note on Friday, May 16th. Oppenheimer restated an “outperform” rating and set a $640.00 price objective on shares of Roper Technologies in a research note on Monday, April 28th. Royal Bank Of Canada raised their price objective on shares of Roper Technologies from $695.00 to $703.00 and gave the company an “outperform” rating in a research note on Tuesday, July 22nd. Finally, William Blair began coverage on shares of Roper Technologies in a report on Monday, May 5th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $637.18.

Roper Technologies Stock Up 0.6%

ROP opened at $522.53 on Thursday. 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, Inc. has a 1-year low of $499.47 and a 1-year high of $595.17. The company has a market capitalization of $56.23 billion, a PE ratio of 36.44, a PEG ratio of 2.77 and a beta of 0.99. The firm’s 50 day simple moving average is $556.44 and its two-hundred day simple moving average is $564.81.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Monday, July 21st. The industrial products company reported $4.87 earnings per share for the quarter, beating the consensus estimate of $4.83 by $0.04. Roper Technologies had a net margin of 22.01% and a return on equity of 10.79%. During the same quarter in the prior year, the company earned $4.48 EPS. Roper Technologies’s revenue was up 13.2% compared to the same quarter last year. As a group, equities analysts forecast that Roper Technologies, Inc. will post 19.96 EPS for the current year.

Roper Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Friday, October 3rd will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $3.30 annualized dividend and a yield of 0.6%. Roper Technologies’s payout ratio is currently 23.19%.

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.