Citigroup Inc. Has $106.05 Million Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Citigroup Inc. lifted its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 17.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 190,587 shares of the industrial products company’s stock after buying an additional 28,555 shares during the period. Citigroup Inc. owned about 0.18% of Roper Technologies worth $106,050,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ROP. Charles Schwab Investment Management Inc. boosted its stake in shares of Roper Technologies by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after purchasing an additional 9,653 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Roper Technologies by 14.8% in the 3rd quarter. Pacer Advisors Inc. now owns 23,614 shares of the industrial products company’s stock valued at $13,140,000 after buying an additional 3,039 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Roper Technologies during the 3rd quarter worth approximately $570,000. Intech Investment Management LLC grew its holdings in Roper Technologies by 37.8% during the 3rd quarter. Intech Investment Management LLC now owns 16,615 shares of the industrial products company’s stock worth $9,245,000 after acquiring an additional 4,562 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Roper Technologies by 20.5% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 107,905 shares of the industrial products company’s stock valued at $60,042,000 after acquiring an additional 18,336 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ROP shares. Mizuho boosted their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird raised their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Finally, Jefferies Financial Group raised their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $620.80.

Roper Technologies Price Performance

Roper Technologies stock opened at $560.14 on Friday. The stock’s 50 day moving average price is $552.43 and its two-hundred day moving average price is $549.03. The stock has a market capitalization of $60.06 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $579.10.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS 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 business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company posted $4.32 earnings per share. The business’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts predict that Roper Technologies, Inc. will post 18.24 earnings per share for the current 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. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio is 21.95%.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.