Pitcairn Co. Sells 386 Shares of Roper Technologies, Inc. (NYSE:ROP)

Pitcairn Co. lessened its stake in Roper Technologies, Inc. (NYSE:ROP) by 15.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,187 shares of the industrial products company’s stock after selling 386 shares during the period. Pitcairn Co.’s holdings in Roper Technologies were worth $1,217,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Ledyard National Bank raised its position in Roper Technologies by 2.1% in the 3rd quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after purchasing an additional 18 shares during the last quarter. Western Financial Corp CA raised its position in Roper Technologies by 1.1% in the 2nd quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock worth $973,000 after purchasing an additional 19 shares during the last quarter. AMG National Trust Bank raised its position in Roper Technologies by 5.1% in the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 19 shares during the last quarter. Versant Capital Management Inc raised its position in Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 20 shares during the last quarter. Finally, Cromwell Holdings LLC raised its position in Roper Technologies by 6.8% in the 3rd quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company’s stock worth $185,000 after purchasing an additional 21 shares during the last quarter. Institutional investors own 93.31% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 32,955 shares in the company, valued at $18,125,250. This represents a 2.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

Shares of ROP stock opened at $560.14 on Monday. The firm has a market capitalization of $60.06 billion, a price-to-earnings ratio of 31.33, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $579.10. The firm has a fifty day moving average of $552.43 and a 200-day moving average of $549.43.

Roper Technologies (NYSE:ROP) last announced its 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $4.32 EPS. On average, equities research analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid a $0.825 dividend. The ex-dividend date of this dividend 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 0.59%. Roper Technologies’s dividend payout ratio is presently 21.95%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada dropped their target price on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and set a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Robert W. Baird upped their target price 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. Jefferies Financial Group upped their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Mizuho upped their target price 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $620.80.

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.