ICICI Prudential Asset Management Co Ltd Lowers Stock Holdings in Roper Technologies, Inc. (NYSE:ROP)

ICICI Prudential Asset Management Co Ltd lowered its stake in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 79.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,399 shares of the industrial products company's stock after selling 5,434 shares during the quarter. ICICI Prudential Asset Management Co Ltd's holdings in Roper Technologies were worth $778,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Oppenheimer & Co. Inc. lifted its position in shares of Roper Technologies by 2.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,277 shares of the industrial products company's stock valued at $2,936,000 after buying an additional 115 shares in the last quarter. MQS Management LLC purchased a new position in shares of Roper Technologies during the 3rd quarter valued at approximately $534,000. Simmons Bank lifted its position in shares of Roper Technologies by 4.0% during the 3rd quarter. Simmons Bank now owns 5,201 shares of the industrial products company's stock valued at $2,894,000 after buying an additional 202 shares in the last quarter. Haverford Trust Co lifted its position in shares of Roper Technologies by 18.2% during the 3rd quarter. Haverford Trust Co now owns 1,525 shares of the industrial products company's stock valued at $849,000 after buying an additional 235 shares in the last quarter. Finally, Aptus Capital Advisors LLC raised its stake in Roper Technologies by 12.5% in the 3rd quarter. Aptus Capital Advisors LLC now owns 20,006 shares of the industrial products company's stock valued at $11,132,000 after purchasing an additional 2,216 shares during the last quarter. Institutional investors and hedge funds own 93.31% of the company's stock.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 1,000 shares of the firm's stock in a transaction dated 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 directly owns 32,955 shares of the company's stock, valued at approximately $18,125,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

ROP has been the subject of several recent research reports. Royal Bank of Canada reduced their price objective on Roper Technologies from $675.00 to $666.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Jefferies Financial Group increased their price objective on Roper Technologies from $625.00 to $635.00 and gave the company a "buy" rating in a research note on Friday, August 16th. Oppenheimer reduced their price objective 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. Robert W. Baird increased their price objective on Roper Technologies from $635.00 to $652.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Finally, Baird R W raised Roper Technologies from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Roper Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $620.80.

Roper Technologies Trading Up 1.1 %

Shares of ROP traded up $6.43 during midday trading on Wednesday, reaching $571.20. The company had a trading volume of 371,425 shares, compared to its average volume of 495,640. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10. The stock has a market cap of $61.25 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.95 and a beta of 1.03. The firm has a 50 day simple moving average of $551.93 and a 200-day simple moving average of $547.17. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41.

Roper Technologies (NYSE:ROP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (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 return on equity of 10.73% and a net margin of 21.78%. The company's quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $4.32 EPS. Research analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently disclosed 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 represents a $3.30 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Roper Technologies's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies's dividend payout ratio (DPR) is presently 21.95%.

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.