Freedom Investment Management Inc. Sells 767 Shares of Roper Technologies, Inc. (NYSE:ROP)

Freedom Investment Management Inc. decreased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 26.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,144 shares of the industrial products company’s stock after selling 767 shares during the period. Freedom Investment Management Inc.’s holdings in Roper Technologies were worth $1,193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Townsquare Capital LLC increased its stake in shares of Roper Technologies by 8.5% during the third quarter. Townsquare Capital LLC now owns 2,053 shares of the industrial products company’s stock valued at $1,142,000 after purchasing an additional 160 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Roper Technologies by 5.7% during the third quarter. BNP Paribas Financial Markets now owns 245,116 shares of the industrial products company’s stock valued at $136,392,000 after purchasing an additional 13,176 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Roper Technologies by 6.8% during the third quarter. Brooklyn Investment Group now owns 837 shares of the industrial products company’s stock valued at $466,000 after acquiring an additional 53 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Roper Technologies during the third quarter valued at approximately $1,784,000. Finally, D.A. Davidson & CO. increased its position in shares of Roper Technologies by 11.9% during the third quarter. D.A. Davidson & CO. now owns 1,488 shares of the industrial products company’s stock valued at $828,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Insider Activity

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

Roper Technologies Trading Up 0.4 %

Shares of ROP stock opened at $564.35 on Thursday. The firm’s 50 day moving average is $552.94 and its 200 day moving average is $550.04. The stock has a market capitalization of $60.52 billion, a P/E ratio of 41.28, a P/E/G ratio of 2.91 and a beta of 1.03. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $579.10. 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 issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $4.53 by $0.09. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations 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 was up 11.7% compared to the same quarter last year. During the same quarter last year, the company posted $4.32 EPS. Research analysts expect that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders 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 dividend yield of 0.58%. This is an increase 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 21.95%.

Wall Street Analyst Weigh In

ROP has been the subject of several analyst reports. Truist Financial reissued a “buy” rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Jefferies Financial Group raised their price target 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. Robert W. Baird raised 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. Royal Bank of Canada reduced their price target 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. Finally, Mizuho raised 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, October 17th. Three 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. According to MarketBeat.com, Roper Technologies has a consensus rating of “Moderate Buy” and a consensus 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.