TCW Group Inc. Cuts Stake in Roper Technologies, Inc. (NYSE:ROP)

TCW Group Inc. reduced its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 39.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,664 shares of the industrial products company's stock after selling 7,571 shares during the quarter. TCW Group Inc.'s holdings in Roper Technologies were worth $6,490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ROP. Diversified Trust Co grew its position in shares of Roper Technologies by 33.5% during the 2nd quarter. Diversified Trust Co now owns 490 shares of the industrial products company's stock valued at $276,000 after acquiring an additional 123 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Roper Technologies by 1.0% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 240,633 shares of the industrial products company's stock valued at $136,455,000 after acquiring an additional 2,399 shares in the last quarter. Swedbank AB increased its holdings in shares of Roper Technologies by 23.0% in the second quarter. Swedbank AB now owns 96,179 shares of the industrial products company's stock worth $54,212,000 after purchasing an additional 17,991 shares during the period. Miracle Mile Advisors LLC boosted its position in shares of Roper Technologies by 19.8% during the 2nd quarter. Miracle Mile Advisors LLC now owns 2,260 shares of the industrial products company's stock valued at $1,274,000 after acquiring an additional 373 shares during the last quarter. Finally, Dash Acquisitions Inc. grew its stake in Roper Technologies by 14.5% in the 2nd quarter. Dash Acquisitions Inc. now owns 8,947 shares of the industrial products company's stock worth $5,111,000 after buying an additional 1,136 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company's stock.

Wall Street Analyst Weigh In

ROP has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Royal Bank of Canada lowered their price objective 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. Jefferies Financial Group raised their target price on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a "buy" rating in a report on Friday, August 16th. Truist Financial reiterated a "buy" rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Finally, Barclays restated an "underweight" rating and issued a $569.00 price objective (down previously from $625.00) on shares of Roper Technologies in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Roper Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $615.20.

Insider Activity

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were 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 in the company, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.87% of the company's stock.

Roper Technologies Stock Down 0.4 %

Roper Technologies stock traded down $2.36 during trading hours on Thursday, hitting $548.03. 324,367 shares of the stock traded hands, compared to its average volume of 495,391. Roper Technologies, Inc. has a one year low of $508.22 and a one year high of $580.09. The firm's 50-day moving average price is $554.15 and its two-hundred day moving average price is $551.58. 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 $58.76 billion, a PE ratio of 40.26, a PEG ratio of 2.88 and a beta of 1.02.

Roper Technologies (NYSE:ROP - Get Free Report) last posted 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. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company earned $4.32 earnings per share. The firm's quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.825 per share. 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 dividend yield of 0.60%. Roper Technologies's dividend payout ratio (DPR) is currently 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.