Roper Technologies, Inc. Plans Quarterly Dividend of $0.35 (ROP)
Roper Technologies, Inc. (NYSE:ROP) declared a quarterly dividend on Monday, June 12th, RTT News reports. Stockholders of record on Friday, July 7th will be paid a dividend of 0.35 per share by the industrial products company on Friday, July 21st. This represents a $1.40 annualized dividend and a dividend yield of 0.61%.
Roper Technologies has raised its dividend payment by an average of 34.3% annually over the last three years and has raised its dividend annually for the last 18 consecutive years. Roper Technologies has a payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Roper Technologies to earn $9.97 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 14.0%.
Shares of Roper Technologies (ROP) traded down 1.18% on Monday, hitting $226.15. The stock had a trading volume of 206,920 shares. Roper Technologies has a 52 week low of $159.28 and a 52 week high of $232.87. The stock has a market capitalization of $23.07 billion, a P/E ratio of 34.91 and a beta of 1.00. The firm has a 50-day moving average price of $222.46 and a 200-day moving average price of $203.51.
Roper Technologies (NYSE:ROP) last issued its earnings results on Friday, April 28th. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.12. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.09 billion. Roper Technologies had a return on equity of 12.81% and a net margin of 16.74%. The firm’s quarterly revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company earned $1.81 EPS. Equities analysts expect that Roper Technologies will post $9.21 earnings per share for the current fiscal year.
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In other Roper Technologies news, Director Christopher Wright sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $214.26, for a total transaction of $535,650.00. Following the completion of the transaction, the director now owns 63,904 shares in the company, valued at approximately $13,692,071.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.50% of the company’s stock.
Several brokerages recently issued reports on ROP. Argus raised Roper Technologies from a “hold” rating to a “buy” rating and set a $235.00 target price on the stock in a research note on Thursday, February 23rd. Barclays PLC cut their price target on Roper Technologies from $223.00 to $221.00 and set an “overweight” rating for the company in a report on Wednesday, April 19th. Royal Bank Of Canada restated an “outperform” rating and set a $248.00 price target (up previously from $245.00) on shares of Roper Technologies in a report on Monday, May 1st. Zacks Investment Research cut Roper Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Cowen and Company restated an “outperform” rating and set a $250.00 price target (up previously from $220.00) on shares of Roper Technologies in a report on Monday, April 17th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Roper Technologies currently has an average rating of “Buy” and an average price target of $226.56.
About Roper Technologies
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