Meridian Wealth Management LLC Purchases Shares of 7,237 Roper Technologies, Inc. (NYSE:ROP)

Meridian Wealth Management LLC acquired a new stake in shares of Roper Technologies, Inc. (NYSE:ROP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,237 shares of the industrial products company’s stock, valued at approximately $4,027,000.

A number of other hedge funds have also made changes to their positions in ROP. Ledyard National Bank boosted its holdings in 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 buying an additional 18 shares in the last quarter. Western Financial Corp CA boosted its stake in Roper Technologies by 1.1% in 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 boosted its stake in shares of Roper Technologies by 5.1% during the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock valued at $220,000 after buying an additional 19 shares during the period. Covestor Ltd boosted its stake in shares of Roper Technologies by 50.0% during the 1st quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock valued at $34,000 after buying an additional 20 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Roper Technologies by 58.8% during the 2nd 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 period. Institutional investors and hedge funds own 93.31% of the company’s stock.

Insiders Place Their Bets

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction dated Thursday, October 24th. The shares were 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 owns 32,955 shares in the company, valued at $18,125,250. The trade was a 2.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Roper Technologies Trading Down 0.2 %

ROP opened at $553.10 on Friday. The firm’s fifty day moving average is $552.26 and its two-hundred day moving average is $548.72. 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 twelve month low of $508.22 and a twelve month high of $579.10. The firm has a market cap of $59.31 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 2.86 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last issued its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned $4.32 earnings per share. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

Analysts Set New Price Targets

A number of brokerages have issued reports on ROP. Royal Bank of Canada decreased 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. Mizuho raised their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Baird R W raised shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 25th. Robert W. Baird upped their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Jefferies Financial Group upped their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $620.80.

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.