Rempart Asset Management Inc. Cuts Position in Roper Technologies, Inc. (NYSE:ROP)

Rempart Asset Management Inc. reduced its stake in Roper Technologies, Inc. (NYSE:ROP) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,558 shares of the industrial products company’s stock after selling 1,095 shares during the period. Roper Technologies accounts for approximately 4.5% of Rempart Asset Management Inc.’s holdings, making the stock its 9th biggest position. Rempart Asset Management Inc.’s holdings in Roper Technologies were worth $22,644,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Fairscale Capital LLC purchased a new position in shares of Roper Technologies during the second quarter valued at $28,000. Fortitude Family Office LLC purchased a new position in Roper Technologies during the third quarter valued at approximately $28,000. Valley Wealth Managers Inc. acquired a new position in Roper Technologies in the 2nd quarter valued at approximately $31,000. Global Wealth Strategies & Associates purchased a new stake in Roper Technologies in the 3rd quarter worth approximately $37,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Roper Technologies during the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Buying and Selling at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares of the company’s stock, 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 the SEC website. Company insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

ROP has been the topic of a number of recent research reports. Mizuho boosted their target price on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Oppenheimer assumed coverage on shares of Roper Technologies in a research note on Monday, December 23rd. They issued an “outperform” rating and a $630.00 target price on the stock. Robert W. Baird upped their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Barclays dropped their price objective on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $623.33.

Roper Technologies Stock Performance

ROP traded down $2.56 on Wednesday, hitting $504.54. 196,439 shares of the stock traded hands, compared to its average volume of 574,742. The business has a fifty day moving average price of $545.06 and a two-hundred day moving average price of $548.56. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 52 week low of $504.48 and a 52 week high of $580.09. The firm has a market capitalization of $54.10 billion, a PE ratio of 36.91, a P/E/G ratio of 2.84 and a beta of 1.04.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. The business 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%. Roper Technologies’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.32 earnings per share. On average, research analysts predict that Roper Technologies, Inc. will post 18.26 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.825 dividend. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio is currently 24.14%.

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.