Roper Technologies, Inc. (NYSE:ROP) Shares Sold by Washington Trust Bank

Washington Trust Bank cut its holdings in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 92.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,764 shares of the industrial products company's stock after selling 32,864 shares during the quarter. Washington Trust Bank's holdings in Roper Technologies were worth $1,538,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ROP. New Covenant Trust Company N.A. acquired a new stake in Roper Technologies in the 1st quarter worth approximately $25,000. Fairscale Capital LLC purchased a new stake in shares of Roper Technologies during the second quarter valued at $28,000. Fortitude Family Office LLC acquired a new position in shares of Roper Technologies in the 3rd quarter valued at $28,000. Versant Capital Management Inc lifted its position in Roper Technologies by 58.8% during 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 period. Finally, Valley Wealth Managers Inc. purchased a new stake in Roper Technologies during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 93.31% of the company's stock.

Roper Technologies Price Performance

Shares of NYSE ROP traded up $7.59 during midday trading on Thursday, hitting $572.26. The stock had a trading volume of 566,881 shares, compared to its average volume of 496,956. 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, Inc. has a 1 year low of $507.59 and a 1 year high of $579.10. The company has a market capitalization of $61.36 billion, a PE ratio of 41.88, a P/E/G ratio of 2.83 and a beta of 1.03. The stock has a 50 day simple moving average of $550.83 and a 200-day simple moving average of $546.24.

Roper Technologies (NYSE:ROP - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.53 by $0.09. The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The firm's quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.32 EPS. On average, sell-side analysts expect that Roper Technologies, Inc. will post 18.24 EPS for the current fiscal year.

Roper Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Tuesday, October 8th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Tuesday, October 8th. Roper Technologies's dividend payout ratio is currently 21.95%.

Insider Activity

In related news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now owns 32,955 shares in the company, valued at approximately $18,125,250. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

ROP has been the subject of several research analyst reports. Truist Financial restated a "buy" rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. Oppenheimer decreased their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Barclays increased their price objective on shares of Roper Technologies from $611.00 to $625.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 10th. 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, Baird R W raised Roper Technologies from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Roper Technologies presently has a consensus 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.