Rockefeller Capital Management L.P. Sells 1,502 Shares of Roper Technologies, Inc. (NYSE:ROP)

Rockefeller Capital Management L.P. lowered its stake in Roper Technologies, Inc. (NYSE:ROP) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,468 shares of the industrial products company’s stock after selling 1,502 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Roper Technologies were worth $41,438,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ROP. Principal Financial Group Inc. increased its holdings in Roper Technologies by 4.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after acquiring an additional 102,199 shares during the period. Mackenzie Financial Corp raised its position in shares of Roper Technologies by 3.1% in the second quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock worth $630,749,000 after buying an additional 33,544 shares in the last quarter. Legal & General Group Plc boosted its stake in Roper Technologies by 7.6% during the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock valued at $515,467,000 after buying an additional 64,565 shares during the period. Mirova US LLC increased its stake in Roper Technologies by 2.1% in the 2nd quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock worth $394,929,000 after acquiring an additional 14,501 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Roper Technologies by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after acquiring an additional 9,653 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Price Performance

ROP stock opened at $566.44 on Friday. The stock has a market capitalization of $60.74 billion, a price-to-earnings ratio of 41.44, a PEG ratio of 2.95 and a beta of 1.03. The firm’s 50-day moving average price is $553.18 and its two-hundred day moving average price is $550.45. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $579.10.

Roper Technologies (NYSE:ROP) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business posted $4.32 EPS. The business’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is currently 24.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ROP shares. Jefferies Financial Group raised their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Mizuho lifted their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada reduced their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird upped their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Truist Financial restated a “buy” rating and issued a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $620.80.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the sale, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.87% of the stock is owned by corporate insiders.

About Roper Technologies

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.