The Manufacturers Life Insurance Company Boosts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

The Manufacturers Life Insurance Company raised its position in Roper Technologies, Inc. (NYSE:ROP) by 0.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,164 shares of the industrial products company’s stock after acquiring an additional 526 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.34% of Roper Technologies worth $201,528,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new stake in Roper Technologies during the 1st quarter worth approximately $25,000. Fairscale Capital LLC acquired a new stake in shares of Roper Technologies in the second quarter valued at $28,000. Fortitude Family Office LLC purchased a new position in Roper Technologies in the third quarter valued at $28,000. Versant Capital Management Inc grew its stake in Roper Technologies by 58.8% during the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Roper Technologies during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

Roper Technologies Stock Up 0.7 %

ROP stock opened at $561.89 on Wednesday. The firm’s 50-day moving average is $552.66 and its two-hundred day moving average is $549.94. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $60.25 billion, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03. Roper Technologies, Inc. has a 52 week low of $508.22 and a 52 week high of $579.10.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the firm posted $4.32 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.59%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio is presently 21.95%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Mizuho increased their price target 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. Robert W. Baird upped their price objective on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial restated a “buy” rating and issued a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Jefferies Financial Group lifted their price target on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada lowered their target price 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and a consensus price target of $620.80.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated Thursday, October 24th. The shares were 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 in the company, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.87% of the stock is owned by company insiders.

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.