Westpac Banking Corp Sells 1,452 Shares of Roper Technologies Inc (NYSE:ROP)

Westpac Banking Corp lessened its holdings in shares of Roper Technologies Inc (NYSE:ROP) by 5.5% in the first quarter, HoldingsChannel reports. The firm owned 24,851 shares of the industrial products company’s stock after selling 1,452 shares during the period. Westpac Banking Corp’s holdings in Roper Technologies were worth $8,498,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ROP. Vanguard Group Inc boosted its holdings in Roper Technologies by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 11,266,186 shares of the industrial products company’s stock worth $3,337,157,000 after acquiring an additional 76,582 shares during the last quarter. BlackRock Inc. boosted its holdings in Roper Technologies by 3.7% during the 4th quarter. BlackRock Inc. now owns 7,181,267 shares of the industrial products company’s stock worth $1,913,952,000 after acquiring an additional 255,881 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Roper Technologies by 6.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,761,462 shares of the industrial products company’s stock worth $469,464,000 after acquiring an additional 113,539 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Roper Technologies by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 1,348,325 shares of the industrial products company’s stock worth $358,725,000 after acquiring an additional 103,001 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Roper Technologies by 2.7% during the 4th quarter. American Century Companies Inc. now owns 1,235,818 shares of the industrial products company’s stock worth $329,370,000 after acquiring an additional 32,378 shares during the last quarter. Institutional investors and hedge funds own 93.20% of the company’s stock.

ROP has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Roper Technologies from $316.00 to $330.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 3rd. Zacks Investment Research raised shares of Roper Technologies from a “hold” rating to a “buy” rating and set a $371.00 price objective on the stock in a report on Tuesday, March 19th. Argus lifted their price objective on shares of Roper Technologies from $330.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stephens lifted their price objective on shares of Roper Technologies from $390.00 to $402.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Raymond James lifted their price objective on shares of Roper Technologies from $330.00 to $370.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $349.90.

In related news, insider Laurence Neil Hunn sold 47,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $354.76, for a total value of $16,673,720.00. Following the transaction, the insider now directly owns 218,866 shares of the company’s stock, valued at approximately $77,644,902.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher Wright sold 1,750 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $328.13, for a total transaction of $574,227.50. Following the completion of the transaction, the director now directly owns 60,163 shares in the company, valued at $19,741,285.19. The disclosure for this sale can be found here. Insiders sold a total of 49,500 shares of company stock worth $17,506,518 over the last three months. 2.30% of the stock is owned by insiders.

Shares of NYSE:ROP traded down $3.09 during midday trading on Friday, reaching $362.22. The company had a trading volume of 4,563 shares, compared to its average volume of 362,450. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.10. The company has a market capitalization of $37.97 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 2.57 and a beta of 1.19. Roper Technologies Inc has a 52-week low of $245.59 and a 52-week high of $369.95.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $3.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.78 by $0.52. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.29 billion. Roper Technologies had a net margin of 20.90% and a return on equity of 17.00%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.61 EPS. As a group, research analysts predict that Roper Technologies Inc will post 12.92 earnings per share for the current year.

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About Roper Technologies

Roper Technologies, Inc designs and develops software, and engineered products and solutions worldwide. The company operates in four segments: Application Software; Network Software & Systems; Measurement & Analytical Solutions; and Process Technologies. It offers application management software, software-as-a-service applications, card systems/integrated security, toll and traffic systems, radio frequency identification card readers, and metering and remote monitoring products.

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

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