Roper Technologies, Inc. (NYSE:ROP) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its holdings in Roper Technologies, Inc. (NYSE:ROP) by 15.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,322 shares of the industrial products company’s stock after selling 428 shares during the period. First Horizon Advisors Inc.’s holdings in Roper Technologies were worth $1,292,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Roper Technologies by 4.0% during the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock valued at $1,512,813,000 after buying an additional 102,199 shares during the last quarter. Mackenzie Financial Corp boosted its holdings 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 acquiring an additional 33,544 shares in the last quarter. Legal & General Group Plc grew its holdings in Roper Technologies by 7.6% during the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after acquiring an additional 64,565 shares during the period. Mirova US LLC lifted its position in shares of Roper Technologies by 2.1% during the 2nd quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock valued at $394,929,000 after acquiring an additional 14,501 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Roper Technologies by 24.4% during the 2nd quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock worth $341,448,000 after purchasing an additional 118,971 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the firm’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 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 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial restated a “buy” rating and issued a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Royal Bank of Canada lowered their target price 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. Oppenheimer lowered their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Mizuho boosted 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. Finally, Jefferies Financial Group boosted their price objective on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roper Technologies has an average rating of “Moderate Buy” and a consensus price target of $620.80.

Roper Technologies Stock Performance

Roper Technologies stock opened at $553.82 on Friday. The firm has a 50-day moving average of $552.26 and a 200-day moving average of $548.72. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10. The firm has a market cap of $59.39 billion, a P/E ratio of 40.51, a P/E/G ratio of 2.86 and a beta of 1.03. 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 quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm earned $4.32 EPS. Roper Technologies’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts expect that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.825 dividend. The ex-dividend date is Friday, January 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.60%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

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.