Kirtland Hills Capital Management LLC Boosts Holdings in Roper Technologies, Inc. (NYSE:ROP)

Kirtland Hills Capital Management LLC lifted its position in Roper Technologies, Inc. (NYSE:ROP) by 6.4% in the 3rd quarter, Holdings Channel reports. The fund owned 3,203 shares of the industrial products company’s stock after acquiring an additional 193 shares during the quarter. Roper Technologies accounts for 0.8% of Kirtland Hills Capital Management LLC’s holdings, making the stock its 26th biggest holding. Kirtland Hills Capital Management LLC’s holdings in Roper Technologies were worth $1,782,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Commerce Bank lifted its position in Roper Technologies by 3.1% during the third quarter. Commerce Bank now owns 6,538 shares of the industrial products company’s stock valued at $3,638,000 after purchasing an additional 195 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Roper Technologies by 2.9% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 22,774 shares of the industrial products company’s stock valued at $12,672,000 after acquiring an additional 634 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Roper Technologies in the 3rd quarter valued at about $4,350,000. Yardley Wealth Management LLC purchased a new position in Roper Technologies in the 3rd quarter valued at $803,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Roper Technologies by 5.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock valued at $19,282,000 after purchasing an additional 1,789 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Down 0.3 %

ROP stock opened at $547.96 on Wednesday. The firm has a 50-day moving average price of $552.22 and a 200-day moving average price of $548.68. 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 12 month low of $508.22 and a 12 month high of $579.10. The stock has a market capitalization of $58.76 billion, a P/E ratio of 40.08, a price-to-earnings-growth ratio of 2.86 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last released its quarterly 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. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm earned $4.32 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, equities research analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS 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. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Friday, January 3rd. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio is 21.95%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ROP shares. Mizuho boosted their price target 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. Royal Bank of Canada cut their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Oppenheimer reduced their price objective on shares of Roper Technologies from $650.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Jefferies Financial Group boosted their price objective on Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roper Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $620.80.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This represents a 2.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

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.