Graypoint LLC Reduces Stake in Roper Technologies, Inc. (NYSE:ROP)

Graypoint LLC decreased its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,439 shares of the industrial products company’s stock after selling 39 shares during the period. Graypoint LLC’s holdings in Roper Technologies were worth $1,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ROP. Fairscale Capital LLC purchased a new stake in Roper Technologies during the 2nd quarter worth about $28,000. Fortitude Family Office LLC purchased a new stake in Roper Technologies during the 3rd quarter worth about $28,000. Valley Wealth Managers Inc. purchased a new stake in Roper Technologies during the 2nd quarter worth about $31,000. Global Wealth Strategies & Associates purchased a new stake in Roper Technologies during the 3rd quarter worth about $37,000. Finally, Kimelman & Baird LLC bought a new position in Roper Technologies in the 2nd quarter worth about $42,000. Hedge funds and other institutional investors own 93.31% of the company’s stock.

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 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 in the company, valued at $18,125,250. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Roper Technologies Price Performance

Shares of Roper Technologies stock opened at $502.71 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. The firm has a market capitalization of $53.91 billion, a PE ratio of 36.77, a price-to-earnings-growth ratio of 2.84 and a beta of 1.04. The business’s 50-day moving average price is $543.00 and its 200-day moving average price is $547.61. Roper Technologies, Inc. has a 12 month low of $502.10 and a 12 month high of $580.09.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.72 billion. During the same period last year, the company earned $4.32 EPS. Roper Technologies’s revenue for the quarter was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Roper Technologies, Inc. will post 18.26 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The business 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 0.66%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio (DPR) is presently 24.14%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ROP. Royal Bank of Canada decreased 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. Truist Financial restated 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. Mizuho upped their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer began coverage on Roper Technologies in a research note on Monday, December 23rd. They issued an “outperform” rating and a $630.00 target price on the stock. Finally, Robert W. Baird upped their target price on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $623.33.

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.