M&T Bank Corp Cuts Stock Position in Roper Technologies, Inc. (NYSE:ROP)

M&T Bank Corp reduced its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,999 shares of the industrial products company's stock after selling 2,720 shares during the quarter. M&T Bank Corp's holdings in Roper Technologies were worth $22,814,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Roper Technologies by 87.8% during the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company's stock worth $410,977,000 after buying an additional 345,268 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Roper Technologies by 25.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company's stock valued at $360,811,000 after purchasing an additional 132,913 shares in the last quarter. State Street Corp increased its holdings in shares of Roper Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company's stock valued at $2,632,199,000 after purchasing an additional 132,575 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Roper Technologies by 24.4% during the 2nd quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company's stock valued at $341,448,000 after purchasing an additional 118,971 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Roper Technologies by 37.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company's stock valued at $238,125,000 after purchasing an additional 116,523 shares in the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the company a "buy" rating in a report on Friday, August 16th. Barclays reissued an "underweight" rating and issued a $569.00 price target (down previously from $625.00) on shares of Roper Technologies in a research note on Thursday, December 5th. Royal Bank of Canada dropped 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. Robert W. Baird lifted their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Truist Financial reissued a "buy" rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $615.20.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the sale, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.87% of the company's stock.

Roper Technologies Trading Up 0.2 %

Shares of NYSE ROP traded up $0.92 during trading on Wednesday, hitting $550.39. 495,707 shares of the company were exchanged, compared to its average volume of 496,107. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $580.09. 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 company has a fifty day moving average price of $554.17 and a 200-day moving average price of $551.59. The firm has a market capitalization of $59.02 billion, a PE ratio of 40.44, a P/E/G ratio of 2.88 and a beta of 1.02.

Roper Technologies (NYSE:ROP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping 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 analyst estimates of $1.72 billion. During the same quarter in the previous year, the firm earned $4.32 EPS. The company's quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.825 per share. This represents a $3.30 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Roper Technologies's previous quarterly dividend of $0.75. Roper Technologies's payout ratio is currently 24.14%.

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.