Roper Technologies, Inc. (NYSE:ROP) Shares Bought by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC raised its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 0.3% during the 3rd quarter, Holdings Channel reports. The fund owned 307,357 shares of the industrial products company’s stock after purchasing an additional 891 shares during the period. Lord Abbett & CO. LLC’s holdings in Roper Technologies were worth $171,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Fairscale Capital LLC acquired a new stake in Roper Technologies in the second quarter worth about $28,000. Fortitude Family Office LLC acquired a new stake in shares of Roper Technologies in the 3rd quarter worth approximately $28,000. Valley Wealth Managers Inc. bought a new position in shares of Roper Technologies in the second quarter valued at approximately $31,000. Global Wealth Strategies & Associates acquired a new position in shares of Roper Technologies during the third quarter valued at approximately $37,000. Finally, Kimelman & Baird LLC bought a new stake in Roper Technologies during the second quarter worth approximately $42,000. 93.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ROP has been the subject of a number of research reports. Barclays reaffirmed an “underweight” rating and set a $569.00 price target (down from $625.00) on shares of Roper Technologies in a research note on Thursday, December 5th. Royal Bank of Canada decreased their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Mizuho boosted their price target on shares of 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 raised their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Truist Financial reiterated a “buy” rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $615.20.

Insider Buying and Selling at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the firm’s 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 transaction, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Stock Down 0.8 %

Roper Technologies stock opened at $543.66 on Friday. The firm’s 50 day moving average price is $554.11 and its two-hundred day moving average price is $551.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. Roper Technologies, Inc. has a twelve month low of $508.22 and a twelve month high of $580.09. The firm has a market cap of $58.30 billion, a PE ratio of 39.77, a P/E/G ratio of 2.87 and a beta of 1.02.

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, beating 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 during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $4.32 EPS. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts predict that Roper Technologies, Inc. will post 18.26 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.825 per share. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.61%. Roper Technologies’s dividend payout ratio is currently 21.95%.

Roper Technologies Company 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.