Drake & Associates LLC Makes New $267,000 Investment in Roper Technologies, Inc. (NYSE:ROP)

Drake & Associates LLC bought a new stake in shares of Roper Technologies, Inc. (NYSE:ROP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 480 shares of the industrial products company’s stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. New Covenant Trust Company N.A. bought a new stake in shares of Roper Technologies during the first quarter worth $25,000. Rise Advisors LLC purchased a new stake in Roper Technologies in the 1st quarter valued at about $27,000. Fairscale Capital LLC bought a new position in Roper Technologies in the 2nd quarter worth about $28,000. OFI Invest Asset Management purchased a new position in shares of Roper Technologies during the first quarter worth approximately $29,000. Finally, Versant Capital Management Inc raised its stake in shares of Roper Technologies by 58.8% during the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 20 shares in the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Trading Up 0.5 %

Shares of NYSE:ROP opened at $563.74 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.53 and a quick ratio of 0.48. The firm has a market capitalization of $60.43 billion, a P/E ratio of 41.76, a P/E/G ratio of 2.90 and a beta of 1.02. The business’s 50-day moving average is $549.29 and its 200 day moving average is $545.25. Roper Technologies, Inc. has a 1 year low of $474.46 and a 1 year high of $579.10.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.48 EPS for the quarter, beating the consensus estimate of $4.46 by $0.02. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 22.14% and a return on equity of 10.77%. On average, research analysts predict that Roper Technologies, Inc. will post 18.16 earnings per share for the current fiscal year.

Roper Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Investors of record on Tuesday, October 8th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Tuesday, October 8th. Roper Technologies’s payout ratio is 22.22%.

Insider Buying and Selling

In other Roper Technologies news, Director Robert D. Johnson sold 140 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $550.34, for a total transaction of $77,047.60. Following the sale, the director now owns 5,909 shares in the company, valued at approximately $3,251,959.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ROP has been the topic of several research reports. Oppenheimer reduced their price objective on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Truist Financial restated a “buy” rating and issued a $660.00 price objective on shares of Roper Technologies in a report on Tuesday, August 27th. Mizuho increased 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. Jefferies Financial Group upped their target price on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Baird R W raised Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Three equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $619.50.

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.