Roper Technologies, Inc. (NYSE:ROP) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in Roper Technologies, Inc. (NYSE:ROP) by 14.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,054,215 shares of the industrial products company’s stock after selling 524,881 shares during the period. Franklin Resources Inc.’s holdings in Roper Technologies were worth $1,691,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fairscale Capital LLC purchased a new position in Roper Technologies during the 2nd quarter valued at about $28,000. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies during the 3rd quarter worth approximately $28,000. Valley Wealth Managers Inc. acquired a new position in shares of Roper Technologies during the 2nd quarter worth approximately $31,000. Global Wealth Strategies & Associates purchased a new stake in Roper Technologies in the 3rd quarter valued at approximately $37,000. Finally, Kimelman & Baird LLC acquired a new stake in Roper Technologies during the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

ROP has been the topic of several recent research reports. 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 report on Thursday, October 24th. Jefferies Financial Group upped their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada lowered their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Truist Financial reissued a “buy” rating and issued a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Finally, Mizuho raised their target price 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roper Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $615.20.

Roper Technologies Trading Down 0.4 %

NYSE:ROP opened at $548.03 on Friday. The firm has a market capitalization of $58.77 billion, a P/E ratio of 40.09, a P/E/G ratio of 2.87 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $580.09. The business has a 50 day simple moving average of $554.13 and a 200 day simple moving average of $551.56.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm posted $4.32 EPS. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Equities research analysts predict that Roper Technologies, Inc. will post 18.26 EPS for the current 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 paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is currently 21.95%.

Insider Buying and Selling at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.