Eastern Bank Has $1.41 Million Stock Position in Roper Technologies, Inc. (NYSE:ROP)

Eastern Bank cut its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 71.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,715 shares of the industrial products company's stock after selling 6,825 shares during the quarter. Eastern Bank's holdings in Roper Technologies were worth $1,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 3Chopt Investment Partners LLC purchased a new position in Roper Technologies during the 2nd quarter worth approximately $220,000. Oppenheimer & Co. Inc. raised its position in Roper Technologies by 6.8% during the second quarter. Oppenheimer & Co. Inc. now owns 5,162 shares of the industrial products company's stock valued at $2,910,000 after acquiring an additional 329 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Roper Technologies by 29.7% during the 2nd quarter. Federated Hermes Inc. now owns 4,996 shares of the industrial products company's stock valued at $2,816,000 after purchasing an additional 1,143 shares in the last quarter. HBK Sorce Advisory LLC bought a new stake in shares of Roper Technologies during the 2nd quarter worth about $260,000. Finally, Thoroughbred Financial Services LLC boosted its position in Roper Technologies by 130.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,087 shares of the industrial products company's stock worth $613,000 after purchasing an additional 615 shares during the period. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ROP has been the subject of a number of analyst reports. Robert W. Baird boosted 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. Barclays cut their target price on shares of Roper Technologies from $569.00 to $562.00 and set an "underweight" rating for the company in a research report on Wednesday, January 8th. Oppenheimer initiated coverage on Roper Technologies in a research note on Monday, December 23rd. They issued an "outperform" rating and a $630.00 price objective on the stock. Truist Financial reissued a "buy" rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Finally, Royal Bank of Canada lowered their target price on Roper Technologies from $675.00 to $666.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Roper Technologies currently has an average rating of "Moderate Buy" and an average price target of $623.33.

Roper Technologies Stock Performance

Shares of ROP traded up $2.13 on Tuesday, reaching $510.13. 202,252 shares of the stock traded hands, compared to its average volume of 627,673. The firm has a market cap of $54.70 billion, a price-to-earnings ratio of 37.32, a P/E/G ratio of 2.84 and a beta of 1.04. Roper Technologies, Inc. has a 12 month low of $499.47 and a 12 month high of $580.09. The stock's 50-day moving average price is $542.32 and its 200-day moving average price is $547.05. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44.

Roper Technologies (NYSE:ROP - Get Free Report) last announced its quarterly earnings data 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. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the prior year, the company posted $4.32 EPS. The business's revenue was up 11.7% on a year-over-year basis. Equities analysts forecast that Roper Technologies, Inc. will post 18.26 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.65%. This is an increase from Roper Technologies's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies's payout ratio is presently 24.14%.

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.