Sumitomo Mitsui Trust Group Inc. Raises Position in Roper Technologies, Inc. (NYSE:ROP)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 286,552 shares of the industrial products company’s stock after acquiring an additional 5,571 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Roper Technologies were worth $159,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Empowered Funds LLC increased its holdings in Roper Technologies by 159.1% during the 1st quarter. Empowered Funds LLC now owns 3,293 shares of the industrial products company’s stock worth $1,847,000 after purchasing an additional 2,022 shares during the period. Sei Investments Co. grew its position in shares of Roper Technologies by 5.6% during the first quarter. Sei Investments Co. now owns 29,414 shares of the industrial products company’s stock worth $16,495,000 after buying an additional 1,553 shares in the last quarter. QRG Capital Management Inc. increased its stake in shares of Roper Technologies by 24.6% during the first quarter. QRG Capital Management Inc. now owns 1,872 shares of the industrial products company’s stock worth $1,050,000 after buying an additional 369 shares during the period. Avantax Advisory Services Inc. raised its holdings in Roper Technologies by 16.2% in the first quarter. Avantax Advisory Services Inc. now owns 509 shares of the industrial products company’s stock valued at $285,000 after acquiring an additional 71 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in Roper Technologies by 4.6% during the 1st quarter. Bleakley Financial Group LLC now owns 2,167 shares of the industrial products company’s stock worth $1,215,000 after acquiring an additional 95 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their price objective on shares of 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 reaffirmed a “buy” rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Jefferies Financial Group increased their price objective on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a report on Friday, August 16th. Oppenheimer decreased their target price on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, Robert W. Baird raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three investment 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $620.80.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $564.77 on Wednesday. The firm’s fifty day simple moving average is $551.68 and its 200-day simple moving average is $546.91. Roper Technologies, Inc. has a 12 month low of $508.22 and a 12 month high of $579.10. The stock has a market capitalization of $60.56 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 2.95 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.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $4.32 earnings per share. Roper Technologies’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, equities 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 disclosed 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. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. This is a boost 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%.

Insider Buying and Selling at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction on 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 sale, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.87% of the company’s stock.

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.