Royal London Asset Management Ltd. Grows Position in Roper Technologies, Inc. (NYSE:ROP)

Royal London Asset Management Ltd. increased its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 109,101 shares of the industrial products company's stock after purchasing an additional 1,233 shares during the quarter. Royal London Asset Management Ltd. owned 0.10% of Roper Technologies worth $60,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Fairscale Capital LLC purchased a new position in shares of Roper Technologies during the second quarter valued at approximately $28,000. Fortitude Family Office LLC purchased a new position in Roper Technologies during the 3rd quarter valued at $28,000. Valley Wealth Managers Inc. bought a new position in Roper Technologies in the 2nd quarter valued at $31,000. Global Wealth Strategies & Associates purchased a new stake in Roper Technologies in the third quarter worth $37,000. Finally, Kimelman & Baird LLC bought a new stake in shares of Roper Technologies during the second quarter worth $42,000. Hedge funds and other institutional investors own 93.31% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 1,000 shares of the stock in a transaction 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 owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays reiterated an "underweight" rating and set a $569.00 price objective (down previously from $625.00) on shares of Roper Technologies in a report on Thursday. Mizuho lifted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Truist Financial reissued 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. Royal Bank of Canada decreased their target price on Roper Technologies from $675.00 to $666.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Jefferies Financial Group increased their price target on Roper Technologies from $625.00 to $635.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $615.20.

Roper Technologies Stock Down 1.2 %

Shares of ROP traded down $6.70 during trading hours on Friday, hitting $551.20. The company had a trading volume of 544,764 shares, compared to its average volume of 495,584. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $59.11 billion, a PE ratio of 40.32, a price-to-earnings-growth ratio of 2.96 and a beta of 1.02. Roper Technologies, Inc. has a one year low of $508.22 and a one year high of $580.09. The company's fifty day moving average price is $554.36 and its two-hundred day moving average price is $551.40.

Roper Technologies (NYSE:ROP - Get Free Report) last announced 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 business 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 firm's revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the company posted $4.32 earnings per share. As a group, equities analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal 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 dividend of $0.825 per share. This is a boost 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 dividend payout ratio is presently 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.