Tower Bridge Advisors Sells 675 Shares of Roper Technologies, Inc. (NYSE:ROP)

Tower Bridge Advisors cut its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 36.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,155 shares of the industrial products company’s stock after selling 675 shares during the period. Tower Bridge Advisors’ holdings in Roper Technologies were worth $643,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Roper Technologies by 4.0% in 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 buying an additional 102,199 shares during the period. Mackenzie Financial Corp increased its position in shares of Roper Technologies by 3.1% during the second quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock worth $630,749,000 after acquiring an additional 33,544 shares during the period. Legal & General Group Plc increased its holdings 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 holdings in Roper Technologies by 2.1% during the second quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock valued at $394,929,000 after buying an additional 14,501 shares during the period. Finally, American Century Companies Inc. increased its holdings in Roper Technologies by 24.4% during the second quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock valued at $341,448,000 after buying an additional 118,971 shares during the period. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Stock Performance

NYSE ROP opened at $548.23 on Monday. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $552.39 and its two-hundred day moving average is $548.19. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $579.10. The stock has a market capitalization of $58.79 billion, a price-to-earnings ratio of 40.10, a PEG ratio of 2.86 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS 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 for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company earned $4.32 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Research analysts expect that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, January 3rd. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is currently 21.95%.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ROP shares. Truist Financial restated a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Robert W. Baird lifted their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Oppenheimer cut their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group boosted their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada lowered their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $620.80.

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.