Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Roper Technologies, Inc. (NYSE:ROP)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 37.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,949 shares of the industrial products company's stock after selling 34,725 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Roper Technologies worth $32,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ledyard National Bank grew its stake in Roper Technologies by 2.1% in the 3rd quarter. Ledyard National Bank now owns 896 shares of the industrial products company's stock worth $499,000 after buying an additional 18 shares in the last quarter. Western Financial Corp CA raised its holdings in shares of Roper Technologies by 1.1% during the second quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company's stock valued at $973,000 after acquiring an additional 19 shares in the last quarter. AMG National Trust Bank grew its stake in Roper Technologies by 5.1% in the second quarter. AMG National Trust Bank now owns 391 shares of the industrial products company's stock worth $220,000 after purchasing an additional 19 shares during the period. Covestor Ltd increased its position in Roper Technologies by 50.0% during the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company's stock valued at $34,000 after buying an additional 20 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Roper Technologies by 58.8% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 93.31% of the company's stock.

Insider Transactions at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the business's stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now owns 32,955 shares of the company's stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.87% of the company's stock.

Analyst Ratings Changes

ROP has been the topic of several recent research reports. Robert W. Baird increased their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Truist Financial reiterated a "buy" rating and set a $665.00 target price (up previously from $660.00) on shares of Roper Technologies 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 stock a "neutral" rating in a report on Thursday, October 17th. Baird R W upgraded Roper Technologies from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada decreased their target price on shares of Roper Technologies from $675.00 to $666.00 and set an "outperform" rating on the stock 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $620.80.

Roper Technologies Stock Up 0.3 %

Shares of NYSE:ROP traded up $1.49 on Wednesday, reaching $549.45. The company had a trading volume of 360,774 shares, compared to its average volume of 495,354. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $58.92 billion, a PE ratio of 40.08, a PEG ratio of 2.86 and a beta of 1.03. The firm's 50 day simple moving average is $552.22 and its 200-day simple moving average is $548.68. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $579.10.

Roper Technologies (NYSE:ROP - Get Free Report) last announced 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. The firm had revenue of $1.75 billion for 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 revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $4.32 EPS. As a group, analysts expect that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a $0.825 dividend. 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. This represents a $3.30 dividend on an annualized basis and a yield of 0.60%. Roper Technologies's payout ratio is presently 21.95%.

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.