Taurus Asset Management LLC Raises Holdings in Roper Technologies, Inc. (NYSE:ROP)

Taurus Asset Management LLC grew its holdings in Roper Technologies, Inc. (NYSE:ROP) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,675 shares of the industrial products company’s stock after buying an additional 965 shares during the quarter. Taurus Asset Management LLC’s holdings in Roper Technologies were worth $12,061,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ROP. Avantax Advisory Services Inc. lifted its holdings in shares of Roper Technologies by 16.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 509 shares of the industrial products company’s stock valued at $285,000 after buying an additional 71 shares during the period. Kingsview Wealth Management LLC acquired a new stake in shares of Roper Technologies in the 1st quarter valued at approximately $210,000. Covestor Ltd lifted its holdings in shares of Roper Technologies by 50.0% in the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock valued at $34,000 after buying an additional 20 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of Roper Technologies by 12.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,035 shares of the industrial products company’s stock valued at $5,067,000 after buying an additional 988 shares during the period. Finally, Invesco LLC acquired a new position in Roper Technologies during the first quarter worth $259,000. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Price Performance

ROP opened at $548.23 on Monday. Roper Technologies, Inc. has a 1 year low of $508.22 and a 1 year high of $579.10. 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’s 50 day simple moving average is $552.39 and its 200 day simple moving average is $548.19. The stock has a market capitalization of $58.79 billion, a PE ratio of 40.10, a P/E/G ratio of 2.86 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company earned $4.32 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts expect 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. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.825 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is presently 21.95%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ROP shares. Royal Bank of Canada reduced their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird lifted their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Oppenheimer cut their price target on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Mizuho boosted their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Truist Financial reissued a “buy” rating and issued a $665.00 price target (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 given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $620.80.

Insider Transactions at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company 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.