Blueshift Asset Management LLC Purchases Shares of 402 Roper Technologies, Inc. (NYSE:ROP)

Blueshift Asset Management LLC bought a new position in shares of Roper Technologies, Inc. (NYSE:ROP) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 402 shares of the industrial products company’s stock, valued at approximately $224,000.

Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Roper Technologies by 4.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after purchasing an additional 102,199 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Roper Technologies by 3.1% in the second quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock worth $630,749,000 after acquiring an additional 33,544 shares in the last quarter. Legal & General Group Plc grew its position in shares of Roper Technologies by 7.6% during the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after buying an additional 64,565 shares in the last quarter. Mirova US LLC boosted its stake in Roper Technologies by 2.1% during the 2nd quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock valued at $394,929,000 after acquiring an additional 14,501 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Roper Technologies by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock worth $361,076,000 after purchasing an additional 9,653 shares during the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Truist Financial reiterated a “buy” rating and issued a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. 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 report on Thursday, October 17th. Jefferies Financial Group boosted their price target 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 cut their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird increased their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 1,000 shares of the firm’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 transaction of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

NYSE ROP opened at $566.44 on Friday. 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, Inc. has a 1 year low of $508.22 and a 1 year high of $579.10. The company has a market cap of $60.74 billion, a PE ratio of 41.44, a PEG ratio of 2.95 and a beta of 1.03. The stock’s 50-day moving average price is $553.18 and its two-hundred day moving average price is $550.45.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $4.32 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.58%. 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 payout ratio is presently 24.14%.

Roper Technologies 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.