Fmr LLC Trims Holdings in Roper Technologies, Inc. (NYSE:ROP)

FMR LLC decreased its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 50.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361,240 shares of the industrial products company's stock after selling 367,299 shares during the period. FMR LLC owned 0.34% of Roper Technologies worth $201,008,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ROP. Ledyard National Bank increased its position in shares of Roper Technologies by 2.1% during the third quarter. Ledyard National Bank now owns 896 shares of the industrial products company's stock worth $499,000 after acquiring an additional 18 shares in the last quarter. Western Financial Corp CA lifted its stake in shares of Roper Technologies by 1.1% during the 2nd quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company's stock worth $973,000 after buying an additional 19 shares during the last quarter. AMG National Trust Bank raised its stake in Roper Technologies by 5.1% in the 2nd 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 in the last quarter. Versant Capital Management Inc raised its stake in Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company's stock worth $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Cromwell Holdings LLC increased its holdings in Roper Technologies by 6.8% in the 3rd quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company's stock valued at $185,000 after buying an additional 21 shares during the period. Institutional investors and hedge funds own 93.31% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ROP shares. Robert W. Baird boosted 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 restated a "buy" rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Jefferies Financial Group raised their price objective 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. Mizuho lifted their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada decreased their price target on shares of Roper Technologies from $675.00 to $666.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned 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.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Roper Technologies Stock Performance

Roper Technologies stock traded down $4.10 during midday trading on Tuesday, hitting $564.53. The stock had a trading volume of 125,691 shares, compared to its average volume of 491,726. The firm's fifty day moving average is $553.18 and its two-hundred day moving average is $550.80. The company has a market capitalization of $60.53 billion, a PE ratio of 41.60, a P/E/G ratio of 2.96 and a beta of 1.02. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $579.10. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41.

Roper Technologies (NYSE:ROP - Get Free Report) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.09. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. 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 firm posted $4.32 EPS. On average, research analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a yield of 0.58%. 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 dividend 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.