1620 Investment Advisors Inc. Sells 163 Shares of Roper Technologies, Inc. (NYSE:ROP)

1620 Investment Advisors Inc. reduced its stake in Roper Technologies, Inc. (NYSE:ROP) by 50.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163 shares of the industrial products company’s stock after selling 163 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Roper Technologies were worth $91,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROP. Diversified Trust Co bought a new position in shares of Roper Technologies during the first quarter valued at $206,000. State of Alaska Department of Revenue grew its holdings in shares of Roper Technologies by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 11,587 shares of the industrial products company’s stock valued at $6,498,000 after buying an additional 50 shares during the last quarter. Norden Group LLC purchased a new position in Roper Technologies in the 1st quarter worth approximately $1,662,000. First Trust Direct Indexing L.P. lifted its position in Roper Technologies by 18.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,060 shares of the industrial products company’s stock valued at $1,716,000 after acquiring an additional 481 shares in the last quarter. Finally, FORVIS Wealth Advisors LLC boosted its stake in Roper Technologies by 6.6% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 6,018 shares of the industrial products company’s stock valued at $3,375,000 after purchasing an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the firm’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 sale, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Roper Technologies Stock Performance

NYSE:ROP opened at $547.23 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The stock has a 50-day simple moving average of $551.11 and a two-hundred day simple moving average of $545.65. The firm has a market capitalization of $58.67 billion, a PE ratio of 40.03, a P/E/G ratio of 2.83 and a beta of 1.02. Roper Technologies, Inc. has a 52-week low of $483.56 and a 52-week high of $579.10.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the company posted $4.32 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. Analysts forecast that Roper Technologies, Inc. will post 18.23 EPS for the current year.

Roper Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th were given a dividend of $0.75 per share. The ex-dividend date was Tuesday, October 8th. This represents a $3.00 annualized dividend and a dividend yield of 0.55%. Roper Technologies’s payout ratio is 21.95%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ROP shares. Jefferies Financial Group upped 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. Baird R W upgraded shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 25th. 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 report on Thursday, October 24th. Royal Bank of Canada lowered their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Truist Financial reiterated a “buy” rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Roper Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

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.