M&T Bank Corp Sells 280 Shares of Roper Technologies Inc (ROP)
M&T Bank Corp reduced its stake in shares of Roper Technologies Inc (NYSE:ROP) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 18,183 shares of the industrial products company’s stock after selling 280 shares during the quarter. M&T Bank Corp’s holdings in Roper Technologies were worth $4,709,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Gotham Asset Management LLC acquired a new position in Roper Technologies in the second quarter valued at approximately $260,000. Scotia Capital Inc. lifted its holdings in Roper Technologies by 1.8% in the second quarter. Scotia Capital Inc. now owns 1,744 shares of the industrial products company’s stock valued at $404,000 after acquiring an additional 30 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in Roper Technologies in the second quarter valued at approximately $190,000. National Asset Management Inc. acquired a new position in Roper Technologies in the second quarter valued at approximately $214,000. Finally, WINTON GROUP Ltd lifted its holdings in Roper Technologies by 47.0% in the second quarter. WINTON GROUP Ltd now owns 9,620 shares of the industrial products company’s stock valued at $2,227,000 after acquiring an additional 3,077 shares during the last quarter. Institutional investors and hedge funds own 93.00% of the company’s stock.
In other news, CEO Brian D. Jellison sold 29,606 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $277.03, for a total transaction of $8,201,750.18. Following the sale, the chief executive officer now owns 1,564,778 shares of the company’s stock, valued at $433,490,449.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian D. Jellison sold 215,411 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $277.22, for a total value of $59,716,237.42. Following the sale, the chief executive officer now directly owns 1,564,778 shares in the company, valued at approximately $433,787,757.16. The disclosure for this sale can be found here. Insiders have sold 439,526 shares of company stock worth $120,362,826 over the last 90 days. 2.50% of the stock is owned by insiders.
Roper Technologies (NYSE:ROP) last released its quarterly earnings results on Friday, February 2nd. The industrial products company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.09. Roper Technologies had a return on equity of 15.28% and a net margin of 21.09%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. The firm’s revenue was up 21.2% compared to the same quarter last year. sell-side analysts predict that Roper Technologies Inc will post 11.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Tuesday, January 9th were paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 0.61%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, January 8th. Roper Technologies’s dividend payout ratio is 17.59%.
A number of research analysts recently commented on ROP shares. Zacks Investment Research upgraded Roper Technologies from a “hold” rating to a “buy” rating and set a $309.00 price objective on the stock in a report on Monday, January 22nd. Wells Fargo & Co set a $310.00 price objective on Roper Technologies and gave the company a “buy” rating in a report on Thursday, January 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $330.00 price objective on shares of Roper Technologies in a report on Monday, February 5th. Oppenheimer reiterated a “buy” rating on shares of Roper Technologies in a report on Monday, October 30th. Finally, Canaccord Genuity upped their price objective on Roper Technologies from $260.00 to $310.00 and gave the company a “hold” rating in a report on Monday, February 5th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $285.38.
Roper Technologies Profile
Roper Technologies, Inc is a technology company. The Company operates businesses that design and develop software and engineered products and solutions for various end markets, including healthcare, transportation, commercial construction, food, energy, water, education and academic research. The Company operates in four segments: Medical & Scientific Imaging, which offers products and software in medical applications, and digital imaging products; RF Technology, which provides radio frequency identification (RFID) communication technology and software solutions; Industrial Technology, which produces fluid handling pumps, materials analysis equipment and consumables, leak testing equipment, flow measurement and metering equipment, and Energy Systems & Controls, which produces control systems, fluid properties testing equipment, industrial valves and controls, vibration sensors and controls, and non-destructive inspection and measurement products and solutions.
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