Dearborn Partners LLC Decreases Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Dearborn Partners LLC cut its stake in Roper Technologies, Inc. (NYSE:ROP) by 22.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,132 shares of the industrial products company’s stock after selling 331 shares during the period. Dearborn Partners LLC’s holdings in Roper Technologies were worth $630,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ledyard National Bank boosted its position in Roper Technologies by 2.1% during the third quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 18 shares in the last quarter. Western Financial Corp CA grew its stake in Roper Technologies by 1.1% in the 2nd quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock valued at $973,000 after acquiring an additional 19 shares during the last quarter. AMG National Trust Bank increased its holdings in Roper Technologies by 5.1% during the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 19 shares in the last quarter. Covestor Ltd increased its stake in shares of Roper Technologies by 50.0% during the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 20 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after buying an additional 20 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada dropped their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Mizuho upped their price objective on shares of 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 reaffirmed 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. Jefferies Financial Group increased their price target on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Baird R W raised Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $620.80.

Roper Technologies Stock Down 2.9 %

Shares of NYSE ROP opened at $548.23 on Friday. The stock has a fifty day moving average price of $552.38 and a 200 day moving average price of $547.46. The company has a market cap of $58.79 billion, a P/E ratio of 40.10, a P/E/G ratio of 2.98 and a beta of 1.03. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-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 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 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 for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.32 EPS. Research analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS 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. Investors of record on Friday, January 3rd will be paid a dividend of $0.825 per share. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 annualized dividend and a yield of 0.60%. Roper Technologies’s payout ratio is 21.95%.

Insider Activity

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 2.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.87% of the company’s stock.

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.