Davis R M Inc. Sells 3,054 Shares of Roper Technologies, Inc. (NYSE:ROP)

Davis R M Inc. cut its holdings in Roper Technologies, Inc. (NYSE:ROP) by 3.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 96,134 shares of the industrial products company’s stock after selling 3,054 shares during the period. Davis R M Inc.’s holdings in Roper Technologies were worth $53,493,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. 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 increased its stake in shares of 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 valued at $973,000 after acquiring an additional 19 shares during the last quarter. AMG National Trust Bank raised its position in shares of Roper Technologies by 5.1% in the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock valued at $220,000 after acquiring an additional 19 shares during the period. Versant Capital Management Inc boosted its stake in Roper Technologies by 58.8% during the 2nd 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 last quarter. Finally, Cromwell Holdings LLC grew its holdings in Roper Technologies by 6.8% during the third quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company’s stock valued at $185,000 after purchasing an additional 21 shares during the period. Institutional investors own 93.31% of the company’s stock.

Roper Technologies Stock Up 1.1 %

ROP stock opened at $560.14 on Monday. The company has a market cap of $60.06 billion, a price-to-earnings ratio of 31.33, a P/E/G ratio of 2.93 and a beta of 1.03. Roper Technologies, Inc. has a twelve month low of $508.22 and a twelve month high of $579.10. The business has a 50 day moving average price of $552.43 and a two-hundred day moving average price of $549.43. 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 (NYSE:ROP) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating the consensus estimate of $4.53 by $0.09. The business had revenue of $1.75 billion during 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 firm’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $4.32 earnings per share. Analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently declared 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. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, January 3rd. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is 21.95%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Truist Financial reissued a “buy” rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Mizuho boosted their target price on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. 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. Jefferies Financial Group increased their target price on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Robert W. Baird upped their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three research 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. According to MarketBeat.com, Roper Technologies presently has an average rating of “Moderate Buy” and an average price target of $620.80.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

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.