Roper Technologies, Inc. (NYSE:ROP) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in Roper Technologies, Inc. (NYSE:ROP) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,447,026 shares of the industrial products company’s stock after purchasing an additional 51,131 shares during the quarter. Geode Capital Management LLC owned 2.28% of Roper Technologies worth $1,357,162,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ROP. Diversified Trust Co lifted its stake in shares of Roper Technologies by 33.5% in the 2nd quarter. Diversified Trust Co now owns 490 shares of the industrial products company’s stock worth $276,000 after acquiring an additional 123 shares during the period. ORG Partners LLC lifted its position in Roper Technologies by 764.2% in the second quarter. ORG Partners LLC now owns 1,158 shares of the industrial products company’s stock worth $652,000 after purchasing an additional 1,024 shares during the period. Red Door Wealth Management LLC boosted its stake in Roper Technologies by 11.7% during the 2nd quarter. Red Door Wealth Management LLC now owns 7,634 shares of the industrial products company’s stock valued at $4,303,000 after purchasing an additional 800 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Roper Technologies by 1.0% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 240,633 shares of the industrial products company’s stock valued at $136,455,000 after purchasing an additional 2,399 shares during the period. Finally, Swedbank AB raised its stake in shares of Roper Technologies by 23.0% in the 2nd quarter. Swedbank AB now owns 96,179 shares of the industrial products company’s stock worth $54,212,000 after buying an additional 17,991 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

Roper Technologies Stock Performance

Shares of ROP stock opened at $549.47 on Wednesday. The stock’s fifty day simple moving average is $554.14 and its 200-day simple moving average is $551.56. The company has a market capitalization of $58.92 billion, a price-to-earnings ratio of 40.20, a P/E/G ratio of 2.88 and a beta of 1.02. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $580.09.

Roper Technologies (NYSE:ROP) last issued its 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. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.32 EPS. On average, sell-side analysts predict that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business 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. 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%. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

Wall Street Analyst Weigh In

ROP has been the topic of several research reports. Royal Bank of Canada dropped their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Mizuho boosted their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Barclays restated an “underweight” rating and set a $569.00 target price (down from $625.00) on shares of Roper Technologies in a report on Thursday, December 5th. Truist Financial reiterated a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Finally, Jefferies Financial Group lifted their target price on 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 given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $615.20.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the 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 transaction, the director now owns 32,955 shares in the company, valued at $18,125,250. This represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by corporate 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.