Thematics Asset Management Trims Stake in Roper Technologies, Inc. (NYSE:ROP)

Thematics Asset Management cut its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,531 shares of the industrial products company’s stock after selling 4,372 shares during the period. Thematics Asset Management’s holdings in Roper Technologies were worth $20,884,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P boosted its position in shares of Roper Technologies by 25.8% during the third quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock valued at $360,811,000 after buying an additional 132,913 shares during the period. American Century Companies Inc. grew its position in Roper Technologies by 24.4% in the 2nd quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock valued at $341,448,000 after acquiring an additional 118,971 shares during the last quarter. Principal Financial Group Inc. increased its stake in Roper Technologies by 4.0% in the second quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after purchasing an additional 102,199 shares during the period. Bank of Montreal Can lifted its position in shares of Roper Technologies by 31.0% during the second quarter. Bank of Montreal Can now owns 338,887 shares of the industrial products company’s stock worth $192,176,000 after purchasing an additional 80,255 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Roper Technologies by 95.1% during the second quarter. SG Americas Securities LLC now owns 161,834 shares of the industrial products company’s stock valued at $91,219,000 after purchasing an additional 78,870 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Stock Performance

Roper Technologies stock traded down $2.55 during midday trading on Tuesday, hitting $555.39. 60,513 shares of the company were exchanged, compared to its average volume of 492,687. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $579.10. The business has a fifty day simple moving average of $552.45 and a two-hundred day simple moving average of $549.67. The firm has a market capitalization of $59.55 billion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 2.93 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping 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 business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the company earned $4.32 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be issued a dividend of $0.825 per share. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio is currently 24.14%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ROP. Truist Financial reaffirmed a “buy” rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Royal Bank of Canada cut their price objective 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 Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their target price on 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 lifted their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research 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, Roper Technologies has a consensus rating of “Moderate Buy” and an average price target of $620.80.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies 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 transaction, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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.