Fmr LLC Cuts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Fmr LLC trimmed its holdings in Roper Technologies, Inc. (NYSE:ROP) by 50.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,240 shares of the industrial products company’s stock after selling 367,299 shares during the period. Fmr LLC owned about 0.34% of Roper Technologies worth $201,008,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Ledyard National Bank boosted its stake in Roper Technologies by 2.1% in the 3rd quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 18 shares during the period. Western Financial Corp CA grew its stake in Roper Technologies by 1.1% during the second quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock valued at $973,000 after acquiring an additional 19 shares in the last quarter. AMG National Trust Bank increased its holdings in Roper Technologies by 5.1% in the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 19 shares during the last quarter. Versant Capital Management Inc lifted its stake in Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Cromwell Holdings LLC boosted its holdings in shares of Roper Technologies by 6.8% during the 3rd quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Stock Performance

Roper Technologies stock opened at $568.63 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The company has a market capitalization of $60.97 billion, a PE ratio of 41.60, a P/E/G ratio of 2.96 and a beta of 1.03. The company has a 50 day moving average price of $553.18 and a 200-day moving average price of $550.80. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $579.10.

Roper Technologies (NYSE:ROP) last issued its earnings results 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. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.32 EPS. As a group, equities analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current 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 given a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is presently 21.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ROP shares. Robert W. Baird increased their price target on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their target price on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada reduced 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. Mizuho increased their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Truist Financial restated a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Three equities research 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

Insider Activity

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the transaction, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

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.