Wellington Management Group LLP Purchases 345,268 Shares of Roper Technologies, Inc. (NYSE:ROP)

Wellington Management Group LLP grew its stake in Roper Technologies, Inc. (NYSE:ROP - Free Report) by 87.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 738,582 shares of the industrial products company's stock after acquiring an additional 345,268 shares during the period. Wellington Management Group LLP owned 0.69% of Roper Technologies worth $410,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in shares of Roper Technologies by 2.9% in the third 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. Principal Financial Group Inc. raised its stake in Roper Technologies by 4.0% in the second quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company's stock valued at $1,512,813,000 after purchasing an additional 102,199 shares in the last quarter. Mackenzie Financial Corp lifted its position in Roper Technologies by 3.1% during the second quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company's stock worth $630,749,000 after purchasing an additional 33,544 shares during the period. Legal & General Group Plc grew its stake in Roper Technologies by 7.6% during the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company's stock worth $515,467,000 after buying an additional 64,565 shares in the last quarter. Finally, Mirova US LLC increased its holdings in Roper Technologies by 2.1% in the 2nd quarter. Mirova US LLC now owns 700,651 shares of the industrial products company's stock valued at $394,929,000 after buying an additional 14,501 shares during the period. Institutional investors own 93.31% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays restated an "underweight" rating and set a $569.00 price target (down previously from $625.00) on shares of Roper Technologies in a research note on Thursday. Robert W. Baird upped their price objective 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. Mizuho boosted their target price on Roper Technologies from $530.00 to $565.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Truist Financial restated a "buy" rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Finally, Jefferies Financial Group upped their price objective 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. 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 issued a strong buy rating to the company. According to data from MarketBeat, Roper Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $615.20.

Roper Technologies Stock Performance

Shares of ROP traded down $6.70 on Friday, reaching $551.20. The company's stock had a trading volume of 544,767 shares, compared to its average volume of 444,706. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. Roper Technologies, Inc. has a 12-month low of $508.22 and a 12-month high of $580.09. The stock has a market capitalization of $59.10 billion, a P/E ratio of 40.32, a PEG ratio of 3.01 and a beta of 1.02. The stock's 50 day simple moving average is $554.30 and its two-hundred day simple moving average is $551.50.

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. Research analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors 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 dividend yield of 0.60%. Roper Technologies's payout ratio is 24.14%.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of the business'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 transaction, the director now owns 32,955 shares of the company's stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by insiders.

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.