True North Advisors LLC Buys Shares of 692 Roper Technologies, Inc. (NYSE:ROP)

True North Advisors LLC purchased a new position in shares of Roper Technologies, Inc. (NYSE:ROP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 692 shares of the industrial products company’s stock, valued at approximately $360,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its stake in shares of Roper Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after buying an additional 132,575 shares during the last quarter. Geode Capital Management LLC raised its position in Roper Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after acquiring an additional 51,131 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Roper Technologies by 3.1% in the second quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock valued at $630,749,000 after purchasing an additional 33,544 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Roper Technologies by 7.6% during the 2nd quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after purchasing an additional 64,565 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after buying an additional 345,268 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analyst Weigh In

ROP has been the subject of several recent research reports. Robert W. Baird raised their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Mizuho boosted their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Truist Financial restated a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Royal Bank of Canada lowered their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Barclays reduced their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.38.

Roper Technologies Stock Performance

Shares of ROP stock opened at $534.45 on Thursday. The firm has a market capitalization of $57.31 billion, a price-to-earnings ratio of 29.69, a price-to-earnings-growth ratio of 2.53 and a beta of 1.04. The company has a 50 day moving average price of $537.24 and a 200 day moving average price of $545.29. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $580.09. 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 (NYSE:ROP) last issued its 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. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $4.32 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that Roper Technologies, Inc. will post 18.29 EPS for the current year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Friday, January 3rd. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is currently 24.14%.

Roper Technologies 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.