Mizuho Markets Americas LLC Lowers Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

Mizuho Markets Americas LLC cut its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,902 shares of the industrial products company’s stock after selling 295 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Roper Technologies were worth $6,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KCM Investment Advisors LLC raised its position in Roper Technologies by 27.5% during the 3rd quarter. KCM Investment Advisors LLC now owns 5,085 shares of the industrial products company’s stock valued at $2,829,000 after purchasing an additional 1,098 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Roper Technologies by 11.7% in the third quarter. Empowered Funds LLC now owns 2,108 shares of the industrial products company’s stock valued at $1,173,000 after acquiring an additional 220 shares in the last quarter. Empirical Finance LLC grew its holdings in Roper Technologies by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 3,654 shares of the industrial products company’s stock worth $2,033,000 after acquiring an additional 76 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Roper Technologies by 3.7% in the 3rd quarter. CIBC Asset Management Inc now owns 49,221 shares of the industrial products company’s stock worth $27,382,000 after purchasing an additional 1,775 shares during the period. Finally, ING Groep NV raised its stake in Roper Technologies by 90.0% in the third quarter. ING Groep NV now owns 45,821 shares of the industrial products company’s stock worth $25,497,000 after buying an additional 21,710 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ROP. Royal Bank of Canada cut their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Baird R W raised shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Mizuho lifted their price target 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. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

Insider Activity

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the transaction, the director now owns 32,955 shares in the company, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

Shares of ROP opened at $548.23 on Friday. The firm has a market capitalization of $58.79 billion, a PE ratio of 40.10, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The company’s fifty day moving average price is $552.39 and its 200-day moving average price is $547.70. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year 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 earnings per share for the quarter, beating 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 the consensus estimate of $1.72 billion. During the same quarter in the previous year, the business earned $4.32 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research 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. Shareholders of record on Friday, January 3rd will be given a dividend of $0.825 per share. The ex-dividend date is Friday, January 3rd. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 0.60%. Roper Technologies’s dividend payout ratio (DPR) is currently 21.95%.

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.