Moors & Cabot Inc. Decreases Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Moors & Cabot Inc. trimmed its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 4.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 627 shares of the industrial products company’s stock after selling 32 shares during the quarter. Moors & Cabot Inc.’s holdings in Roper Technologies were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ROP. New Covenant Trust Company N.A. bought a new position in Roper Technologies during the 1st quarter valued at about $25,000. Fairscale Capital LLC bought a new position in shares of Roper Technologies during the second quarter valued at approximately $28,000. Fortitude Family Office LLC purchased a new stake in shares of Roper Technologies in the third quarter worth approximately $28,000. Versant Capital Management Inc lifted its stake in shares of 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, Valley Wealth Managers Inc. bought a new stake in shares of Roper Technologies during the 2nd quarter worth approximately $31,000. Institutional investors own 93.31% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ROP. Jefferies Financial Group upped their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Robert W. Baird increased their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Royal Bank of Canada lowered 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. Finally, Mizuho lifted their price target on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $620.80.

Insider Transactions at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the company’s 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 sale, the director now owns 32,955 shares in the company, valued at $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 available through the SEC website. Company insiders own 0.87% of the company’s stock.

Roper Technologies Price Performance

Shares of ROP opened at $560.14 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The company’s fifty day moving average price is $552.43 and its 200-day moving average price is $549.23. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10. The firm has a market capitalization of $60.06 billion, a PE ratio of 40.98, a price-to-earnings-growth ratio of 2.89 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last posted its quarterly 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. 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 the consensus estimate of $1.72 billion. During the same quarter in the previous year, the business earned $4.32 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts predict that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a yield of 0.59%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. Roper Technologies’s payout ratio is presently 21.95%.

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.