Atlantic Union Bankshares Corp Trims Stake in Roper Technologies, Inc. (NYSE:ROP)

Atlantic Union Bankshares Corp cut its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 10.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,109 shares of the industrial products company’s stock after selling 989 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Roper Technologies were worth $4,512,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ledyard National Bank grew its position in shares of Roper Technologies by 2.1% during the third quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 18 shares during the last quarter. Western Financial Corp CA boosted its stake in Roper Technologies by 1.1% during the 2nd quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock worth $973,000 after purchasing an additional 19 shares during the period. AMG National Trust Bank grew its position in Roper Technologies by 5.1% during the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock worth $220,000 after purchasing an additional 19 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after buying an additional 20 shares during the last quarter. Finally, Cromwell Holdings LLC raised its holdings in shares of Roper Technologies by 6.8% in the third quarter. Cromwell Holdings LLC now owns 332 shares of the industrial products company’s stock valued at $185,000 after buying an additional 21 shares during the last quarter. 93.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 transaction of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ROP shares. Mizuho boosted their price target on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Jefferies Financial Group upped their price target on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Truist Financial reiterated a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Royal Bank of Canada reduced their target price on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, 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 note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $620.80.

Roper Technologies Stock Up 0.4 %

ROP stock opened at $564.35 on Friday. 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 $579.10. The firm has a market capitalization of $60.52 billion, a PE ratio of 41.28, a P/E/G ratio of 2.95 and a beta of 1.03. The company’s 50 day simple moving average is $553.01 and its 200-day simple moving average is $550.14.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data 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. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.32 earnings per share. Equities analysts expect that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.825 per share. The ex-dividend date is Friday, January 3rd. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. Roper Technologies’s payout ratio is currently 21.95%.

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.