Fiduciary Trust Co Cuts Position in Roper Technologies, Inc. (NYSE:ROP)

Fiduciary Trust Co lessened its stake in Roper Technologies, Inc. (NYSE:ROP) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,417 shares of the industrial products company’s stock after selling 80 shares during the quarter. Fiduciary Trust Co’s holdings in Roper Technologies were worth $6,353,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ROP. Loomis Sayles & Co. L P increased its holdings in shares of Roper Technologies by 25.8% in the 3rd quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock valued at $360,811,000 after purchasing an additional 132,913 shares in the last quarter. American Century Companies Inc. grew its stake in Roper Technologies by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock valued at $341,448,000 after acquiring an additional 118,971 shares during the last quarter. Principal Financial Group Inc. grew its stake 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 valued at $1,512,813,000 after acquiring an additional 102,199 shares during the last quarter. Bank of Montreal Can grew its stake in Roper Technologies by 31.0% in the 2nd quarter. Bank of Montreal Can now owns 338,887 shares of the industrial products company’s stock valued at $192,176,000 after acquiring an additional 80,255 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Roper Technologies by 95.1% in the 2nd quarter. SG Americas Securities LLC now owns 161,834 shares of the industrial products company’s stock valued at $91,219,000 after acquiring an additional 78,870 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies 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 sale, the director now owns 32,955 shares in the company, valued at $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.87% of the company’s stock.

Roper Technologies Trading Up 0.4 %

Shares of ROP stock opened at $564.35 on Friday. The firm has a market cap of $60.52 billion, a P/E ratio of 31.56, a PEG ratio of 2.95 and a beta of 1.03. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The firm’s 50-day simple moving average is $553.01 and its 200-day simple moving average is $550.14.

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

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is currently 21.95%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial reissued a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Royal Bank of Canada decreased 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 note on Thursday, October 24th. Robert W. Baird raised their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their price target 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, Mizuho raised their price target 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. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.