Eastern Bank Reduces Stake in Roper Technologies, Inc. (NYSE:ROP)

Eastern Bank lowered its position in Roper Technologies, Inc. (NYSE:ROP) by 71.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,715 shares of the industrial products company’s stock after selling 6,825 shares during the period. Eastern Bank’s holdings in Roper Technologies were worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Capital Investment Advisors LLC lifted its holdings in Roper Technologies by 5.9% in the fourth quarter. Capital Investment Advisors LLC now owns 3,050 shares of the industrial products company’s stock valued at $1,586,000 after acquiring an additional 169 shares during the period. Fiduciary Alliance LLC acquired a new position in Roper Technologies in the fourth quarter valued at approximately $1,232,000. Threadgill Financial LLC lifted its holdings in Roper Technologies by 9.7% in the fourth quarter. Threadgill Financial LLC now owns 5,345 shares of the industrial products company’s stock valued at $2,779,000 after acquiring an additional 474 shares during the period. Czech National Bank lifted its holdings in Roper Technologies by 6.5% in the fourth quarter. Czech National Bank now owns 23,249 shares of the industrial products company’s stock valued at $12,086,000 after acquiring an additional 1,412 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its holdings in Roper Technologies by 13.7% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 7,186 shares of the industrial products company’s stock valued at $3,735,000 after acquiring an additional 868 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Roper Technologies Stock Up 1.1 %

Shares of ROP opened at $508.00 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. Roper Technologies, Inc. has a one year low of $499.47 and a one year high of $580.09. The stock has a market capitalization of $54.47 billion, a price-to-earnings ratio of 37.16, a PEG ratio of 2.84 and a beta of 1.04. The stock has a 50 day moving average price of $542.32 and a 200 day moving average price of $547.05.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, topping 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 firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business earned $4.32 earnings per share. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts forecast that Roper Technologies, Inc. will post 18.26 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 issued a $0.825 dividend. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, January 3rd. Roper Technologies’s dividend payout ratio is presently 24.14%.

Wall Street Analyst Weigh In

ROP has been the subject of a number of analyst reports. Barclays decreased their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Oppenheimer began coverage on Roper Technologies in a report on Monday, December 23rd. They issued an “outperform” rating and a $630.00 price target for the company. Robert W. Baird upped their target price on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Mizuho upped their target price on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada reduced their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $623.33.

Insider Buying and Selling at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of the sale, the director now directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by company insiders.

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.