Van ECK Associates Corp Sells 344,535 Shares of Roper Technologies, Inc. (NYSE:ROP)

Van ECK Associates Corp trimmed its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 97.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,169 shares of the industrial products company's stock after selling 344,535 shares during the quarter. Van ECK Associates Corp's holdings in Roper Technologies were worth $4,978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New Covenant Trust Company N.A. purchased a new stake in Roper Technologies during the 1st quarter valued at about $25,000. Fairscale Capital LLC purchased a new stake in shares of Roper Technologies during the second quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new stake in shares of Roper Technologies during the third quarter valued at approximately $28,000. Versant Capital Management Inc raised its holdings in Roper Technologies by 58.8% in the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company's stock worth $30,000 after acquiring an additional 20 shares during the last quarter. Finally, Valley Wealth Managers Inc. bought a new position in Roper Technologies in the 2nd quarter valued at approximately $31,000. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Stock Performance

Shares of ROP stock traded down $4.64 during mid-day trading on Friday, reaching $567.62. 391,881 shares of the company's stock traded hands, compared to its average volume of 496,471. 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 firm has a market capitalization of $60.87 billion, a PE ratio of 41.52, a price-to-earnings-growth ratio of 2.95 and a beta of 1.03. Roper Technologies, Inc. has a 12 month low of $508.07 and a 12 month high of $579.10. The firm has a 50 day moving average price of $551.46 and a two-hundred day moving average price of $546.62.

Roper Technologies (NYSE:ROP - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted $4.32 earnings per share. Roper Technologies's revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts forecast that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The company 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 a boost from Roper Technologies's previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a yield of 0.58%. Roper Technologies's dividend payout ratio (DPR) is presently 24.14%.

Insider Buying and Selling at Roper Technologies

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 transaction of $550,000.00. Following the sale, the director now directly owns 32,955 shares in the company, valued at $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 is available at this hyperlink. Insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ROP. Robert W. Baird boosted their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Truist Financial restated a "buy" rating and set a $665.00 target price (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Mizuho lifted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Baird R W upgraded shares of Roper Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 25th. Finally, Oppenheimer cut their target price on shares of Roper Technologies from $650.00 to $630.00 and set an "outperform" rating for the company in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $620.80.

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.