Roper Technologies, Inc. (NYSE:ROP) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 0.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,688,633 shares of the industrial products company's stock after acquiring an additional 4,724 shares during the period. Roper Technologies comprises about 0.8% of Principal Financial Group Inc.'s holdings, making the stock its 21st biggest holding. Principal Financial Group Inc. owned 2.51% of Roper Technologies worth $1,496,063,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of ROP. New Covenant Trust Company N.A. purchased a new position in shares of Roper Technologies in the first quarter worth about $25,000. Fairscale Capital LLC acquired a new stake in shares of Roper Technologies in the 2nd quarter worth $28,000. Fortitude Family Office LLC acquired a new position in shares of Roper Technologies during the 3rd quarter valued at about $28,000. Versant Capital Management Inc raised its stake in Roper Technologies by 58.8% during the second 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 during the period. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Roper Technologies in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.31% of the company's stock.

Analyst Upgrades and Downgrades

ROP has been the subject of several recent analyst reports. Truist Financial reissued a "buy" rating and set a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Robert W. Baird increased their target price 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. Baird R W raised shares of Roper Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 25th. Mizuho increased their price objective on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group boosted their target price on Roper Technologies from $625.00 to $635.00 and gave the company a "buy" rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Roper Technologies has an average rating of "Moderate Buy" and a consensus target price of $620.80.

Insider Transactions at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the business's stock in a transaction on Thursday, October 24th. The shares were 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 of the company's stock, valued at $18,125,250. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.87% of the company's stock.

Roper Technologies Stock Up 1.4 %

NYSE:ROP traded up $7.91 during mid-day trading on Thursday, hitting $572.58. The stock had a trading volume of 360,603 shares, compared to its average volume of 495,970. 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, Inc. has a twelve month low of $507.59 and a twelve month high of $579.10. The company has a market capitalization of $61.40 billion, a PE ratio of 41.88, a PEG ratio of 2.83 and a beta of 1.03. The stock has a 50-day simple moving average of $550.83 and a two-hundred day simple moving average of $546.24.

Roper Technologies (NYSE:ROP - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping analysts' consensus estimates of $4.53 by $0.09. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company's revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.32 earnings per share. On average, equities research analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Tuesday, October 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $3.00 annualized dividend and a yield of 0.52%. Roper Technologies's dividend payout ratio is currently 21.95%.

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.