Moran Wealth Management LLC Has $2.98 Million Holdings in Roper Technologies, Inc. (NYSE:ROP)

Moran Wealth Management LLC grew its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,356 shares of the industrial products company’s stock after acquiring an additional 90 shares during the quarter. Moran Wealth Management LLC’s holdings in Roper Technologies were worth $2,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ROP. New Covenant Trust Company N.A. bought a new stake in Roper Technologies during the 1st quarter valued at $25,000. Fairscale Capital LLC bought a new stake in Roper Technologies in the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC purchased a new stake in Roper Technologies during the third quarter valued at about $28,000. Versant Capital Management Inc grew its holdings in shares of Roper Technologies by 58.8% in 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. purchased a new position in Roper Technologies during the 2nd quarter valued at about $31,000. 93.31% of the stock is owned by institutional investors.

Roper Technologies Stock Performance

Shares of ROP stock opened at $553.82 on Friday. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10. The company 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 quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average of $552.26 and a two-hundred day moving average of $548.72.

Roper Technologies (NYSE:ROP) last released 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. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm earned $4.32 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

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

Wall Street Analyst Weigh In

ROP has been the subject of a number of recent research reports. Truist Financial reiterated a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research note 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 decreased their price target on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Royal Bank of Canada cut their price objective 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. Finally, Mizuho boosted their price objective on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

Insiders Place Their Bets

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 stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed 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.