Roper Technologies, Inc. (NYSE:ROP) Declares Dividend Increase - $0.83 Per Share

Roper Technologies, Inc. (NYSE:ROP - Get Free Report) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Friday, January 3rd will be given a dividend of 0.825 per share by the industrial products company on Friday, January 17th. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Roper Technologies's previous quarterly dividend of $0.75.

Roper Technologies has decreased its dividend payment by an average of 0.0% annually over the last three years. Roper Technologies has a dividend payout ratio of 15.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Roper Technologies to earn $19.81 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 15.1%.

Roper Technologies Stock Performance

ROP traded down $4.64 during midday trading on Friday, hitting $567.62. 391,881 shares of the company were exchanged, compared to its average volume of 496,471. The company's 50 day simple moving average is $551.46 and its 200 day simple moving average is $546.62. The firm has a market capitalization of $60.87 billion, a price-to-earnings ratio of 41.52, a price-to-earnings-growth ratio of 2.95 and a beta of 1.03. Roper Technologies has a 1-year low of $508.07 and a 1-year 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 announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating 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 company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period last year, the business earned $4.32 earnings per share. Roper Technologies's quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts predict that Roper Technologies will post 18.24 earnings per share for the current year.

Insider Transactions at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 32,955 shares of the company's stock, valued at $18,125,250. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird raised their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Oppenheimer cut their price target on Roper Technologies from $650.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Truist Financial reiterated a "buy" rating and set a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Mizuho boosted their price objective on Roper Technologies from $530.00 to $565.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group increased 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 issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $620.80.

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.