Franklin Resources Inc. Sells 524,881 Shares of Roper Technologies, Inc. (NYSE:ROP)

Franklin Resources Inc. decreased its holdings in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 14.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,054,215 shares of the industrial products company's stock after selling 524,881 shares during the period. Franklin Resources Inc. owned 2.85% of Roper Technologies worth $1,691,670,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Synovus Financial Corp raised its holdings in Roper Technologies by 19.6% in the 3rd quarter. Synovus Financial Corp now owns 5,867 shares of the industrial products company's stock worth $3,265,000 after acquiring an additional 961 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Roper Technologies by 8.5% in the third quarter. Tidal Investments LLC now owns 10,466 shares of the industrial products company's stock worth $5,824,000 after purchasing an additional 823 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Roper Technologies by 1,227.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 4,727 shares of the industrial products company's stock valued at $2,630,000 after purchasing an additional 4,371 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of Roper Technologies by 1.4% during the third quarter. World Investment Advisors LLC now owns 7,111 shares of the industrial products company's stock valued at $3,957,000 after buying an additional 100 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in Roper Technologies by 19.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,849 shares of the industrial products company's stock worth $3,276,000 after buying an additional 960 shares during the last quarter. 93.31% of the stock is currently owned by hedge funds and other institutional investors.

Roper Technologies Price Performance

Shares of ROP traded down $4.37 during trading hours on Friday, reaching $543.66. 590,213 shares of the stock traded hands, compared to its average volume of 495,785. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $580.09. 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 cap of $58.30 billion, a P/E ratio of 40.09, a price-to-earnings-growth ratio of 2.87 and a beta of 1.02. The company's 50-day moving average price is $554.13 and its two-hundred day moving average price is $551.56.

Roper Technologies (NYSE:ROP - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share 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 analyst estimates of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.32 earnings per share. On average, analysts anticipate that Roper Technologies, Inc. will post 18.26 earnings per share for the current year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 0.61%. 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's payout ratio is 21.95%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada decreased their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Robert W. Baird boosted their price target on Roper Technologies from $635.00 to $652.00 and gave the company an "outperform" rating 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 target price on shares of 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 price target on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, three have issued 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, Roper Technologies has an average rating of "Moderate Buy" and a consensus target price of $615.20.

Insider Buying and Selling

In other Roper Technologies 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 sale, the director now owns 32,955 shares in the company, valued at $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by company insiders.

Roper Technologies Profile

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.