Roper Technologies, Inc. (NYSE:ROP) Position Increased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its holdings in Roper Technologies, Inc. (NYSE:ROP) by 52.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,938 shares of the industrial products company’s stock after buying an additional 1,699 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Roper Technologies were worth $2,747,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. boosted its stake in Roper Technologies by 4.0% in the second quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock valued at $1,512,813,000 after acquiring an additional 102,199 shares during the period. Mackenzie Financial Corp grew its stake in Roper Technologies by 3.1% during the 2nd quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock worth $630,749,000 after buying an additional 33,544 shares during the last quarter. Legal & General Group Plc increased its position in Roper Technologies by 7.6% in the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after buying an additional 64,565 shares during the period. Mirova US LLC lifted its stake in Roper Technologies by 2.1% in the second quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock valued at $394,929,000 after buying an additional 14,501 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Roper Technologies by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after acquiring an additional 9,653 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

Analyst Ratings Changes

ROP has been the topic of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Mizuho lifted their price target on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada decreased 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 target price on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group raised their price target on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a report on Friday, August 16th. Three 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $620.80.

Roper Technologies Price Performance

Shares of Roper Technologies stock opened at $560.14 on Monday. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10. 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 company’s 50-day moving average price is $552.43 and its two-hundred day moving average price is $549.43. The stock has a market cap of $60.06 billion, a PE ratio of 31.33, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share 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 firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $4.32 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The firm 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 $0.825 dividend. The ex-dividend date is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is presently 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.