Moran Wealth Management LLC Acquires 90 Shares of Roper Technologies, Inc. (NYSE:ROP)

Moran Wealth Management LLC grew its stake in Roper Technologies, Inc. (NYSE:ROP) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,356 shares of the industrial products company’s stock after acquiring an additional 90 shares during the quarter. Moran Wealth Management LLC’s holdings in Roper Technologies were worth $2,980,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in Roper Technologies by 15.7% in the third quarter. Advisors Asset Management Inc. now owns 4,036 shares of the industrial products company’s stock worth $2,246,000 after purchasing an additional 549 shares during the last quarter. Kirtland Hills Capital Management LLC raised its position in shares of Roper Technologies by 6.4% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 3,203 shares of the industrial products company’s stock valued at $1,782,000 after purchasing an additional 193 shares during the period. Commerce Bank raised its holdings in Roper Technologies by 3.1% during the third quarter. Commerce Bank now owns 6,538 shares of the industrial products company’s stock valued at $3,638,000 after acquiring an additional 195 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in Roper Technologies by 2.9% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 22,774 shares of the industrial products company’s stock worth $12,672,000 after purchasing an additional 634 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Roper Technologies in the third quarter worth $4,350,000. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Price Performance

Shares of ROP opened at $553.82 on Friday. The firm’s 50 day moving average price is $552.26 and its 200 day moving average price is $548.72. 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 company has a market cap of $59.39 billion, a P/E ratio of 40.51, a PEG ratio of 2.86 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.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $4.32 earnings per share. On average, research analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Friday, January 3rd. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 0.60%. Roper Technologies’s payout ratio is currently 21.95%.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated 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 directly owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ROP shares. Baird R W raised shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 25th. Mizuho increased their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Oppenheimer dropped their price target on Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, Royal Bank of Canada cut their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Roper Technologies presently has an average rating of “Moderate Buy” and an average target price of $620.80.

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.