Bamco Inc. NY Cuts Stake in Roper Technologies, Inc. (NYSE:ROP)

Bamco Inc. NY cut its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 257,797 shares of the industrial products company’s stock after selling 6,200 shares during the quarter. Bamco Inc. NY’s holdings in Roper Technologies were worth $143,449,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in shares of Roper Technologies during the 3rd quarter valued at $103,000. Erste Asset Management GmbH purchased a new stake in Roper Technologies during the third quarter valued at about $2,769,000. Wasatch Advisors LP grew its stake in shares of Roper Technologies by 9.2% during the third quarter. Wasatch Advisors LP now owns 7,258 shares of the industrial products company’s stock valued at $4,039,000 after buying an additional 613 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Roper Technologies by 37.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company’s stock worth $238,125,000 after buying an additional 116,523 shares during the period. Finally, Eventide Asset Management LLC lifted its stake in shares of Roper Technologies by 3.9% in the 3rd quarter. Eventide Asset Management LLC now owns 260,445 shares of the industrial products company’s stock valued at $144,922,000 after acquiring an additional 9,887 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the transaction, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

Shares of ROP opened at $566.44 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The stock has a market cap of $60.74 billion, a P/E ratio of 41.44, a P/E/G ratio of 2.96 and a beta of 1.03. The business’s 50 day moving average price is $553.18 and its 200-day moving average price is $550.80. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week 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, beating analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the business earned $4.32 EPS. Roper Technologies’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.825 dividend. The ex-dividend date is Friday, January 3rd. 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. Roper Technologies’s payout ratio is currently 21.95%.

Wall Street Analyst Weigh In

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

Roper Technologies Profile

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.