Roper Technologies, Inc. (NYSE:ROP) Stake Decreased by Tower Bridge Advisors

Tower Bridge Advisors lessened its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 36.9% during the third quarter, Holdings Channel.com reports. The fund owned 1,155 shares of the industrial products company’s stock after selling 675 shares during the period. Tower Bridge Advisors’ holdings in Roper Technologies were worth $643,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new stake in shares of Roper Technologies during the 1st quarter valued at $25,000. Fairscale Capital LLC bought a new position in shares of Roper Technologies during the 2nd quarter worth about $28,000. Fortitude Family Office LLC bought a new position in shares of Roper Technologies during the 3rd quarter worth about $28,000. Versant Capital Management Inc boosted its position in shares of Roper Technologies by 58.8% during the 2nd 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. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Roper Technologies during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds 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 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 transaction 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 filing with the SEC, which is available at this link. 0.87% of the stock is currently owned by insiders.

Roper Technologies Price Performance

Shares of ROP stock opened at $548.23 on Monday. Roper Technologies, Inc. has a 1 year low of $508.22 and a 1 year high of $579.10. The firm’s 50 day moving average is $552.39 and its 200-day moving average is $548.19. The firm has a market capitalization of $58.79 billion, a price-to-earnings ratio of 40.10, a PEG ratio of 2.86 and a beta of 1.03. 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 (NYSE:ROP) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. Roper Technologies’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.32 earnings per share. Sell-side analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal 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 paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. Roper Technologies’s payout ratio is 21.95%.

Analyst Ratings Changes

A number of equities analysts have commented on ROP shares. Truist Financial restated a “buy” rating and issued a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Mizuho boosted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada reduced their price target on shares of 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 boosted their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Oppenheimer reduced their price target on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $620.80.

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.