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

Verity & Verity LLC cut its holdings in Roper Technologies, Inc. (NYSE:ROP) by 10.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 630 shares of the industrial products company’s stock after selling 77 shares during the quarter. Verity & Verity LLC’s holdings in Roper Technologies were worth $351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ROP. American Century Companies Inc. grew its holdings in shares of Roper Technologies by 24.4% in 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 purchasing an additional 118,971 shares in the last quarter. Principal Financial Group Inc. lifted its position in Roper Technologies by 4.0% in the second 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 last quarter. Bank of Montreal Can lifted its position in Roper Technologies by 31.0% in the second quarter. Bank of Montreal Can now owns 338,887 shares of the industrial products company’s stock worth $192,176,000 after buying an additional 80,255 shares during the last quarter. SG Americas Securities LLC lifted its position in Roper Technologies by 95.1% in the second quarter. SG Americas Securities LLC now owns 161,834 shares of the industrial products company’s stock worth $91,219,000 after buying an additional 78,870 shares during the last quarter. Finally, Swedbank AB bought a new stake in Roper Technologies in the first quarter worth $43,851,000. 93.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was 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 approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ROP shares. Mizuho raised their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Jefferies Financial Group lifted their target price on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Baird R W upgraded Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their target price on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. 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 research report on Thursday, October 24th. Three 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $620.80.

Roper Technologies Stock Performance

ROP stock opened at $549.37 on Tuesday. 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 business has a 50-day moving average price of $552.31 and a 200 day moving average price of $548.46. The company has a market capitalization of $58.91 billion, a P/E ratio of 30.66, a PEG ratio of 2.86 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.

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 the consensus estimate of $4.53 by $0.09. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $4.32 earnings per share. As a group, equities research analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

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

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.