Kovitz Investment Group Partners LLC Acquires 1,683 Shares of Roper Technologies, Inc. (NYSE:ROP)

Kovitz Investment Group Partners LLC increased its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 60.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,467 shares of the industrial products company's stock after purchasing an additional 1,683 shares during the period. Kovitz Investment Group Partners LLC's holdings in Roper Technologies were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in Roper Technologies during the 2nd quarter worth $28,000. Fortitude Family Office LLC bought a new position in shares of Roper Technologies in the 3rd quarter valued at $28,000. Valley Wealth Managers Inc. bought a new position in shares of Roper Technologies in the 2nd quarter valued at $31,000. Global Wealth Strategies & Associates bought a new position in shares of Roper Technologies in the 3rd quarter valued at $37,000. Finally, Kimelman & Baird LLC bought a new stake in Roper Technologies during the 2nd quarter worth $42,000. 93.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Mizuho boosted their price objective on Roper Technologies from $530.00 to $565.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Barclays restated an "underweight" rating and set a $569.00 price objective (down previously from $625.00) on shares of Roper Technologies in a research report on Thursday, December 5th. Robert W. Baird boosted their price objective on Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Truist Financial restated 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 cut 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $615.20.

Roper Technologies Trading Up 0.2 %

Shares of NYSE:ROP traded up $1.05 during midday trading on Tuesday, reaching $549.47. The company's stock had a trading volume of 587,920 shares, compared to its average volume of 496,109. The firm has a market capitalization of $58.92 billion, a price-to-earnings ratio of 40.20, a PEG ratio of 2.88 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The firm has a 50 day moving average price of $554.14 and a two-hundred day moving average price of $551.56. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $580.09.

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. The company 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 was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.32 EPS. As a group, analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.60%. This is a positive change 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%.

Insider Activity at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the business's 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 sale, the director now directly owns 32,955 shares of the company's stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

About Roper Technologies

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.