Pinnacle Financial Partners Inc Sells 250 Shares of Roper Technologies, Inc. (NYSE:ROP)

Pinnacle Financial Partners Inc trimmed its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 17.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,158 shares of the industrial products company’s stock after selling 250 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Roper Technologies were worth $644,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ROP. New Covenant Trust Company N.A. purchased a new stake in shares of Roper Technologies during the 1st quarter valued at $25,000. Fairscale Capital LLC bought a new position in Roper Technologies during the second quarter valued at about $28,000. Fortitude Family Office LLC purchased a new stake in Roper Technologies during the third quarter worth about $28,000. Versant Capital Management Inc raised its position in Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 20 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new position in Roper Technologies in the second quarter valued at about $31,000. 93.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ROP. Baird R W raised shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Royal Bank of Canada dropped their price target on 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 lifted their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Oppenheimer reduced their target price on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $620.80.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the sale, the director now owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by insiders.

Roper Technologies Trading Down 1.1 %

Shares of Roper Technologies stock opened at $564.77 on Friday. The company’s 50-day moving average price is $552.18 and its 200-day moving average price is $547.34. The company has a market cap of $60.56 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.98 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 posted 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 business had revenue of $1.75 billion for 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%. Roper Technologies’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.32 EPS. On average, equities analysts expect that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently announced 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 represents a $3.30 dividend on an annualized basis and a yield of 0.58%. 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. Roper Technologies’s dividend payout ratio is 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.