Salem Investment Counselors Inc. Reduces Holdings in Roper Technologies, Inc. (NYSE:ROP)

Salem Investment Counselors Inc. reduced its position in shares of Roper Technologies, Inc. (NYSE:ROP - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,571 shares of the industrial products company's stock after selling 3,909 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Roper Technologies were worth $8,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wellington Management Group LLP raised its position in Roper Technologies by 87.8% during the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company's stock worth $410,977,000 after acquiring an additional 345,268 shares during the period. Loomis Sayles & Co. L P raised its position in shares of 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 purchasing an additional 132,913 shares during the last quarter. State Street Corp lifted its stake in Roper Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company's stock valued at $2,632,199,000 after buying an additional 132,575 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Roper Technologies by 37.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company's stock worth $238,125,000 after buying an additional 116,523 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Roper Technologies by 31.0% during the second quarter. Bank of Montreal Can now owns 338,887 shares of the industrial products company's stock valued at $192,176,000 after acquiring an additional 80,255 shares during the last quarter. 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 firm'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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is owned by company insiders.

Roper Technologies Trading Up 1.1 %

Shares of Roper Technologies stock traded up $5.29 during trading hours on Monday, hitting $508.00. The company's stock had a trading volume of 572,681 shares, compared to its average volume of 690,212. The firm has a fifty day moving average of $543.00 and a 200-day moving average of $547.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 37.16, a P/E/G ratio of 2.84 and a beta of 1.04. Roper Technologies, Inc. has a twelve month low of $499.47 and a twelve month high of $580.09.

Roper Technologies (NYSE:ROP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, beating analysts' consensus estimates of $4.53 by $0.09. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period last year, the business earned $4.32 earnings per share. The business's revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts forecast that Roper Technologies, Inc. will post 18.26 EPS for the current 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 issued a $0.825 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from Roper Technologies's previous quarterly dividend of $0.75. Roper Technologies's payout ratio is 24.14%.

Analysts Set New Price Targets

ROP has been the subject of several research reports. Oppenheimer initiated coverage on Roper Technologies in a research report on Monday, December 23rd. They set an "outperform" rating and a $630.00 price target for the company. Royal Bank of Canada dropped their target price 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 shares of Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Barclays cut their price objective on shares of Roper Technologies from $569.00 to $562.00 and set an "underweight" rating for the company in a report on Wednesday, January 8th. Finally, Truist Financial restated a "buy" rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $623.33.

Roper Technologies Company 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.