Great Diamond Partners LLC has made a significant investment in Roper Technologies, Inc. by acquiring a stake valued at approximately $915,000. This investment, which includes 1,615 shares of Roper Technologies, occurred during the second quarter of 2024, according to reports from HoldingsChannel.com.
Several other institutional investors have also adjusted their holdings in Roper Technologies, reflecting a broader interest in the industrial products company. Notably, Vanguard Group Inc. increased its position by 1.7% during the same quarter, now owning 10,896,899 shares, worth an estimated $6.18 billion after acquiring an additional 179,646 shares.
Another key player, Price T Rowe Associates Inc., grew its stake in Roper Technologies by 9.2% in the first quarter, bringing its total to 5,963,540 shares, valued at approximately $3.52 billion. T. Rowe Price Investment Management Inc. also increased its holdings by 0.4%, owning 5,171,740 shares now worth around $3.05 billion. Additionally, Geode Capital Management LLC raised its position by 1.1%, owning nearly 2.57 million shares valued at approximately $1.45 billion. Norges Bank entered the fray as well, acquiring a new position in Roper Technologies valued at around $1.06 billion. Collectively, institutional investors and hedge funds own 93.31% of the company’s stock.
Analyst Ratings and Market Performance
Recent analyst reports offer varying perspectives on Roper Technologies. On October 24, 2024, Robert W. Baird set a price target of $592.00. In contrast, TD Cowen reduced its target from $650.00 to $625.00, maintaining a “buy” rating. Oppenheimer reiterated an “outperform” rating with a target of $570.00, while Mizuho lowered its price objective from $600.00 to $510.00, assigning a “neutral” rating. Royal Bank of Canada adjusted its outlook as well, changing its rating from “outperform” to “sector perform” and lowering the target price to $539.00.
Currently, one research analyst has assigned a “Strong Buy” rating, nine have issued a “Buy” rating, three have rated it as “Hold,” and two have given a “Sell” rating. According to MarketBeat.com, the consensus rating stands at “Moderate Buy,” with an average target price of $579.54.
As of Thursday, Roper Technologies shares opened at $445.89. The company’s 50-day moving average is $471.71, while the 200-day moving average is $520.51. With a 52-week low of $435.42 and a 52-week high of $595.17, the firm boasts a market capitalization of $48.00 billion and a P/E ratio of 30.73.
Roper Technologies reported its earnings results on October 23, revealing earnings per share of $5.14, surpassing the consensus estimate of $5.11 by $0.03. The company’s revenue for the quarter was $2.02 billion, aligning with expectations. The quarterly revenue reflected a growth of 14.3% compared to the previous year, when earnings per share stood at $4.62.
Dividend Announcement
In addition to these financial developments, Roper Technologies has announced an increase in its quarterly dividend. Shareholders of record on January 2, 2025, will receive a dividend of $0.91 per share, up from the previous $0.83. This change translates to an annualized dividend of $3.64 and a dividend yield of 0.8%. The ex-dividend date is also set for January 2, 2025, and Roper Technologies maintains a payout ratio of 22.74%.
Insider Transactions
Recent insider transactions indicate continued confidence in Roper Technologies’ prospects. On November 12, Director Amy Woods Brinkley purchased 1,200 shares at an average cost of $450.71, totaling approximately $540,852. Following this acquisition, Brinkley owns 18,184 shares, valued at nearly $8.20 million. CEO Laurence Neil Hunn also demonstrated his commitment by buying 10,000 shares on the same day at an average price of $452.23, resulting in a total investment of $4.52 million.
With these developments, Roper Technologies continues to attract attention from both institutional investors and analysts, reflecting a strong position in the industrial sector.
