Triangle Securities Wealth Management Trims Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Triangle Securities Wealth Management cut its holdings in Roper Technologies, Inc. (NYSE:ROP) by 3.6% during the fourth quarter, HoldingsChannel reports. The fund owned 2,329 shares of the industrial products company’s stock after selling 88 shares during the period. Triangle Securities Wealth Management’s holdings in Roper Technologies were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Ledyard National Bank grew its stake in Roper Technologies by 2.1% during the 3rd quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after buying an additional 18 shares during the last quarter. Meridian Financial Partners LLC grew its position in Roper Technologies by 1.0% during the 4th quarter. Meridian Financial Partners LLC now owns 2,052 shares of the industrial products company’s stock worth $1,067,000 after purchasing an additional 20 shares during the last quarter. Cromwell Holdings LLC increased its stake in Roper Technologies by 6.8% in the third 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 period. Hibernia Wealth Partners LLC raised its holdings in shares of Roper Technologies by 4.2% in the third quarter. Hibernia Wealth Partners LLC now owns 522 shares of the industrial products company’s stock valued at $291,000 after buying an additional 21 shares during the last quarter. Finally, Ballast Advisors LLC raised its stake in Roper Technologies by 1.3% during the 3rd quarter. Ballast Advisors LLC now owns 1,656 shares of the industrial products company’s stock valued at $921,000 after acquiring an additional 21 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Trading Up 0.6 %

NYSE:ROP opened at $522.32 on Friday. The company has a market capitalization of $56.01 billion, a PE ratio of 28.12, a price-to-earnings-growth ratio of 2.40 and a beta of 1.04. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $580.09. The stock has a fifty day simple moving average of $538.78 and a 200-day simple moving average of $546.01. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41.

Roper Technologies (NYSE:ROP) last posted its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company earned $4.32 EPS. Roper Technologies’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Roper Technologies, Inc. will post 18.29 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were paid a dividend of $0.825 per share. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.63%. Roper Technologies’s dividend payout ratio is presently 24.14%.

Insider Buying and Selling

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies 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 owns 32,955 shares in the company, valued at $18,125,250. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is owned by company insiders.

Analyst Ratings Changes

ROP has been the subject of several analyst reports. Robert W. Baird upped their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada reduced their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and set a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Barclays reduced their target price on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Finally, Oppenheimer assumed coverage on shares of Roper Technologies in a research note on Monday, December 23rd. They set an “outperform” rating and a $630.00 price target on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $623.33.

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.