Kentucky Retirement Systems Insurance Trust Fund Trims Stake in Roper Technologies, Inc. (NYSE:ROP)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Roper Technologies, Inc. (NYSE:ROP) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,174 shares of the industrial products company’s stock after selling 279 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Roper Technologies were worth $1,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. KCM Investment Advisors LLC lifted its stake in Roper Technologies by 27.5% in the third quarter. KCM Investment Advisors LLC now owns 5,085 shares of the industrial products company’s stock worth $2,829,000 after acquiring an additional 1,098 shares during the period. Empowered Funds LLC boosted its stake in shares of Roper Technologies by 11.7% during the third quarter. Empowered Funds LLC now owns 2,108 shares of the industrial products company’s stock valued at $1,173,000 after purchasing an additional 220 shares in the last quarter. Empirical Finance LLC increased its holdings in Roper Technologies by 2.1% during the third quarter. Empirical Finance LLC now owns 3,654 shares of the industrial products company’s stock valued at $2,033,000 after buying an additional 76 shares during the period. CIBC Asset Management Inc raised its stake in Roper Technologies by 3.7% in the third quarter. CIBC Asset Management Inc now owns 49,221 shares of the industrial products company’s stock worth $27,382,000 after buying an additional 1,775 shares in the last quarter. Finally, ING Groep NV boosted its position in Roper Technologies by 90.0% during the 3rd quarter. ING Groep NV now owns 45,821 shares of the industrial products company’s stock valued at $25,497,000 after acquiring an additional 21,710 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the sale, the director now owns 32,955 shares in the company, valued at $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

Roper Technologies Trading Down 2.9 %

Shares of Roper Technologies stock opened at $548.23 on Friday. The firm’s 50 day simple moving average is $552.39 and its two-hundred day simple moving average is $547.96. The firm 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, Inc. has a 12-month low of $508.22 and a 12-month high of $579.10. 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 (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $4.32 EPS. Analysts predict that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 0.60%. 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%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ROP shares. Robert W. Baird boosted 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. Oppenheimer decreased their price target on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Jefferies Financial Group lifted their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Truist Financial reiterated a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Finally, Mizuho raised their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Three 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. According to data from MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and an average 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.