First Horizon Advisors Inc. Sells 428 Shares of Roper Technologies, Inc. (NYSE:ROP)

First Horizon Advisors Inc. lowered its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 15.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,322 shares of the industrial products company’s stock after selling 428 shares during the period. First Horizon Advisors Inc.’s holdings in Roper Technologies were worth $1,292,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ROP. New Covenant Trust Company N.A. bought a new stake in Roper Technologies during the first quarter valued at approximately $25,000. Fairscale Capital LLC bought a new position in shares of Roper Technologies during the 2nd quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new position in shares of Roper Technologies during the third quarter valued at approximately $28,000. Versant Capital Management Inc lifted its position in shares of Roper Technologies by 58.8% during the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares during the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Roper Technologies during the second quarter valued at approximately $31,000. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Stock Up 0.8 %

Shares of NYSE ROP opened at $553.82 on Friday. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $579.10. The stock has a market cap of $59.39 billion, a P/E ratio of 40.51, a PEG ratio of 2.86 and a beta of 1.03. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $552.26 and its 200-day simple moving average is $548.72.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 21.78% and a return on equity of 10.73%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.32 earnings per share. As a group, equities analysts predict that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal 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 given a dividend of $0.825 per share. The ex-dividend date 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 21.95%.

Insider Buying and Selling at Roper Technologies

In other 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 completion of the sale, the director now 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Robert W. Baird increased their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Mizuho upped their price objective 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. Finally, Royal Bank of Canada dropped their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $620.80.

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.