MetLife Investment Management LLC Trims Stake in Roper Technologies, Inc. (NYSE:ROP)

MetLife Investment Management LLC cut its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,869 shares of the industrial products company’s stock after selling 680 shares during the period. MetLife Investment Management LLC’s holdings in Roper Technologies were worth $15,507,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new position in shares of Roper Technologies during the third quarter valued at approximately $224,000. Townsquare Capital LLC lifted its stake in shares of Roper Technologies by 8.5% during the 3rd quarter. Townsquare Capital LLC now owns 2,053 shares of the industrial products company’s stock worth $1,142,000 after acquiring an additional 160 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Roper Technologies by 5.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 245,116 shares of the industrial products company’s stock worth $136,392,000 after acquiring an additional 13,176 shares during the last quarter. Brooklyn Investment Group boosted its holdings in Roper Technologies by 6.8% during the 3rd quarter. Brooklyn Investment Group now owns 837 shares of the industrial products company’s stock valued at $466,000 after acquiring an additional 53 shares during the period. Finally, Quantbot Technologies LP bought a new position in Roper Technologies in the 3rd quarter valued at $1,784,000. 93.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was 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 approximately $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

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

Roper Technologies Stock Performance

Shares of NYSE:ROP opened at $564.35 on Thursday. The firm has a 50 day moving average of $552.94 and a 200 day moving average of $550.04. 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 company has a market capitalization of $60.52 billion, a price-to-earnings ratio of 41.28, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10.

Roper Technologies (NYSE:ROP) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping the consensus estimate of $4.53 by $0.09. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.32 EPS. On average, sell-side analysts predict that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. 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.