Royal Bank of Canada Raises Roper Technologies (NYSE:ROP) Price Target to $622.00

Roper Technologies (NYSE:ROPFree Report) had its price objective hoisted by Royal Bank of Canada from $620.00 to $622.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

Other equities research analysts have also recently issued reports about the stock. Mizuho raised their price target on shares of Roper Technologies from $500.00 to $525.00 and gave the stock a neutral rating in a report on Thursday. TD Cowen downgraded Roper Technologies from an outperform rating to a market perform rating and set a $535.00 price objective for the company. in a report on Thursday, January 4th. TheStreet upgraded Roper Technologies from a c+ rating to a b- rating in a report on Friday, November 10th. Truist Financial restated a buy rating and set a $575.00 price target on shares of Roper Technologies in a research note on Friday, October 20th. Finally, StockNews.com assumed coverage on shares of Roper Technologies in a research note on Thursday, October 5th. They issued a hold rating on the stock. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $548.93.

Read Our Latest Report on ROP

Roper Technologies Trading Up 0.7 %

Shares of ROP stock opened at $549.62 on Thursday. The company has a market cap of $58.71 billion, a P/E ratio of 42.64, a PEG ratio of 2.90 and a beta of 1.02. The stock has a 50 day simple moving average of $539.79 and a two-hundred day simple moving average of $511.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.49 and a current ratio of 0.50. Roper Technologies has a fifty-two week low of $416.77 and a fifty-two week high of $562.69.

Roper Technologies (NYSE:ROPGet Free Report) last issued its earnings results on Wednesday, January 31st. The industrial products company reported $4.37 earnings per share for the quarter, topping analysts’ consensus estimates of $4.34 by $0.03. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.58 billion. Roper Technologies had a return on equity of 10.63% and a net margin of 22.41%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.92 earnings per share. Research analysts forecast that Roper Technologies will post 18.01 earnings per share for the current year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 23rd. Stockholders of record on Tuesday, January 9th were issued a $0.75 dividend. The ex-dividend date was Monday, January 8th. This represents a $3.00 annualized dividend and a dividend yield of 0.55%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.68. Roper Technologies’s dividend payout ratio is currently 23.27%.

Insider Activity

In other news, Director Robert D. Johnson sold 250 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $538.25, for a total value of $134,562.50. Following the completion of the transaction, the director now directly owns 5,346 shares of the company’s stock, valued at $2,877,484.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.94% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roper Technologies

Institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new position in Roper Technologies during the third quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new position in Roper Technologies in the third quarter valued at approximately $27,000. Compass Wealth Management LLC purchased a new position in Roper Technologies in the fourth quarter valued at approximately $30,000. Fortis Capital Advisors LLC purchased a new position in Roper Technologies in the fourth quarter valued at approximately $30,000. Finally, Independence Bank of Kentucky purchased a new position in Roper Technologies in the fourth quarter valued at approximately $31,000. Institutional investors own 91.59% of the company’s stock.

About Roper Technologies

(Get Free Report)

Roper Technologies, Inc designs and develops software, and technology enabled products and solutions. The company offers management, campus solutions, diagnostic and laboratory information management, enterprise management, 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.

Recommended Stories

Analyst Recommendations for Roper Technologies (NYSE:ROP)

Receive News & Ratings for Roper Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roper Technologies and related companies with MarketBeat.com's FREE daily email newsletter.