Saturna Capital Corp Trims Position in Roper Technologies, Inc. (NYSE:ROP)

Saturna Capital Corp decreased its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 60.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,328 shares of the industrial products company’s stock after selling 2,072 shares during the quarter. Saturna Capital Corp’s holdings in Roper Technologies were worth $739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. MQS Management LLC purchased a new position in Roper Technologies during the third quarter worth approximately $534,000. Simmons Bank raised its stake in Roper Technologies by 4.0% during the third quarter. Simmons Bank now owns 5,201 shares of the industrial products company’s stock worth $2,894,000 after purchasing an additional 202 shares during the period. Haverford Trust Co raised its stake in Roper Technologies by 18.2% during the third quarter. Haverford Trust Co now owns 1,525 shares of the industrial products company’s stock worth $849,000 after purchasing an additional 235 shares during the period. Aptus Capital Advisors LLC raised its stake in Roper Technologies by 12.5% during the third quarter. Aptus Capital Advisors LLC now owns 20,006 shares of the industrial products company’s stock worth $11,132,000 after purchasing an additional 2,216 shares during the period. Finally, First Heartland Consultants Inc. raised its stake in Roper Technologies by 4.4% during the third quarter. First Heartland Consultants Inc. now owns 571 shares of the industrial products company’s stock worth $318,000 after purchasing an additional 24 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Wall Street Analyst Weigh In

ROP has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Truist Financial reaffirmed a “buy” rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Robert W. Baird increased their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho increased their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Oppenheimer dropped their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $620.80.

Roper Technologies Price Performance

ROP opened at $563.52 on Wednesday. The company has a fifty day simple moving average of $551.93 and a 200 day simple moving average of $547.17. The firm has a market cap of $60.43 billion, a price-to-earnings ratio of 41.31, a PEG ratio of 2.95 and a beta of 1.03. Roper Technologies, Inc. has a twelve month low of $508.22 and a twelve month 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.

Roper Technologies (NYSE:ROP) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share 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 net margin of 21.78% and a return on equity of 10.73%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $4.32 EPS. Equities research analysts expect that Roper Technologies, Inc. will post 18.24 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. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.825 per share. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 0.59%. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is currently 21.95%.

Insiders Place Their Bets

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the firm’s 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is owned by company insiders.

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.