Bank of Montreal Can Increases Position in Roper Technologies, Inc. (NYSE:ROP)

Bank of Montreal Can raised its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 2.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 347,365 shares of the industrial products company’s stock after buying an additional 8,478 shares during the period. Bank of Montreal Can’s holdings in Roper Technologies were worth $192,371,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ROP. New Covenant Trust Company N.A. purchased a new position in Roper Technologies during the 1st quarter valued at about $25,000. Fairscale Capital LLC acquired a new stake in shares of Roper Technologies during the second quarter worth about $28,000. Fortitude Family Office LLC purchased a new position in shares of Roper Technologies in the third quarter valued at approximately $28,000. Versant Capital Management Inc grew its holdings in shares of Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in Roper Technologies during the 2nd quarter worth approximately $31,000. 93.31% of the stock is owned by institutional investors and hedge funds.

Roper Technologies Price Performance

ROP stock opened at $557.94 on Tuesday. The stock has a market cap of $59.83 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.93 and a beta of 1.03. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $579.10. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $552.45 and a 200 day moving average price of $549.67.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data 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. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.32 EPS. Equities research analysts anticipate that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal 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 paid a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is currently 24.14%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ROP. Jefferies Financial Group raised their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Royal Bank of Canada decreased their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Mizuho boosted their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird increased their price target on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial reissued a “buy” rating and set a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the completion of the sale, the director now owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by company insiders.

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.