Geode Capital Management LLC Grows Holdings in Roper Technologies, Inc. (NYSE:ROP)

Geode Capital Management LLC increased its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,447,026 shares of the industrial products company's stock after acquiring an additional 51,131 shares during the quarter. Geode Capital Management LLC owned about 2.28% of Roper Technologies worth $1,357,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company's stock valued at $410,977,000 after acquiring an additional 345,268 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in 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 worth $360,811,000 after buying an additional 132,913 shares during the period. State Street Corp boosted its holdings in Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company's stock worth $2,632,199,000 after acquiring an additional 132,575 shares in the last quarter. American Century Companies Inc. grew its stake in Roper Technologies by 24.4% in the second quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company's stock valued at $341,448,000 after acquiring an additional 118,971 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Roper Technologies by 37.4% during the third 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 acquiring an additional 116,523 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company's stock.

Insider Buying and Selling at Roper Technologies

In other 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 owns 32,955 shares in the company, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays reissued an "underweight" rating and issued a $569.00 price objective (down from $625.00) on shares of Roper Technologies in a research note on Thursday, December 5th. Royal Bank of Canada dropped their price objective on Roper Technologies from $675.00 to $666.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Truist Financial reiterated a "buy" rating and issued a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. 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. Finally, Jefferies Financial Group raised 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $615.20.

Roper Technologies Price Performance

NYSE ROP traded up $0.92 on Wednesday, hitting $550.39. The stock had a trading volume of 495,707 shares, compared to its average volume of 496,107. The company has a market capitalization of $59.02 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $580.09. The firm has a 50-day moving average of $554.17 and a 200-day moving average of $551.59. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48.

Roper Technologies (NYSE:ROP - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. Roper Technologies's revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.32 earnings per share. Equities analysts expect that Roper Technologies, Inc. will post 18.24 EPS 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 is an increase from Roper Technologies's previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 0.60%. Roper Technologies's payout ratio is presently 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.