Red Spruce Capital LLC Sells 129 Shares of Roper Technologies, Inc. (NYSE:ROP)

Red Spruce Capital LLC cut its position in Roper Technologies, Inc. (NYSE:ROP) by 7.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,680 shares of the industrial products company’s stock after selling 129 shares during the quarter. Red Spruce Capital LLC’s holdings in Roper Technologies were worth $873,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ledyard National Bank grew its stake in shares of Roper Technologies by 2.1% in the third quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock valued at $499,000 after acquiring an additional 18 shares in the last quarter. Meridian Financial Partners LLC grew its position in shares of Roper Technologies by 1.0% during the 4th quarter. Meridian Financial Partners LLC now owns 2,052 shares of the industrial products company’s stock worth $1,067,000 after purchasing an additional 20 shares in the last quarter. Cromwell Holdings LLC increased its holdings in shares of Roper Technologies by 6.8% during the third quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 21 shares during the period. Hibernia Wealth Partners LLC raised its position in shares of Roper Technologies by 4.2% in the third quarter. Hibernia Wealth Partners LLC now owns 522 shares of the industrial products company’s stock valued at $291,000 after buying an additional 21 shares in the last quarter. Finally, Ballast Advisors LLC boosted its stake in shares of Roper Technologies by 1.3% in the third quarter. Ballast Advisors LLC now owns 1,656 shares of the industrial products company’s stock valued at $921,000 after buying an additional 21 shares during the period. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Price Performance

ROP stock opened at $530.79 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. Roper Technologies, Inc. has a 52-week low of $499.47 and a 52-week high of $580.09. The company has a market capitalization of $56.92 billion, a P/E ratio of 29.21, a PEG ratio of 2.49 and a beta of 1.04. The company has a fifty day moving average price of $537.92 and a 200-day moving average price of $545.52.

Roper Technologies (NYSE:ROP) last announced its 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 for the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.32 EPS. As a group, equities analysts expect that Roper Technologies, Inc. will post 18.29 EPS for the current year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were issued a $0.825 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 0.62%. Roper Technologies’s dividend payout ratio is presently 24.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ROP. Robert W. Baird upped their target price on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Mizuho boosted their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Finally, Oppenheimer started coverage on Roper Technologies in a research note on Monday, December 23rd. They issued an “outperform” rating and a $630.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $623.33.

Insider Buying and Selling at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were 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 in the company, valued at $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 available through the SEC website. 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.