Kensington Investment Counsel LLC Has $3.82 Million Position in Roper Technologies, Inc. (NYSE:ROP)

Kensington Investment Counsel LLC grew its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,860 shares of the industrial products company’s stock after purchasing an additional 98 shares during the quarter. Roper Technologies makes up 1.6% of Kensington Investment Counsel LLC’s holdings, making the stock its 20th biggest holding. Kensington Investment Counsel LLC’s holdings in Roper Technologies were worth $3,817,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Roper Technologies by 87.8% during the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after acquiring an additional 345,268 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Roper Technologies by 25.8% during the 3rd quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock worth $360,811,000 after purchasing an additional 132,913 shares during the last quarter. State Street Corp raised its position in Roper Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after purchasing an additional 132,575 shares during the last quarter. American Century Companies Inc. lifted its holdings in Roper Technologies by 24.4% during the 2nd quarter. American Century Companies Inc. now owns 605,769 shares of the industrial products company’s stock worth $341,448,000 after buying an additional 118,971 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Roper Technologies by 37.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company’s stock valued at $238,125,000 after buying an additional 116,523 shares during the period. 93.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Roper Technologies

In related news, Director Richard F. Wallman sold 1,000 shares of the firm’s 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 transaction, the director now owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.87% of the stock is currently owned by company insiders.

Roper Technologies Price Performance

Shares of NYSE ROP opened at $551.20 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $554.30 and its 200-day moving average price is $551.50. The firm has a market capitalization of $59.10 billion, a P/E ratio of 40.32, a P/E/G ratio of 3.01 and a beta of 1.02. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $580.09.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $4.53 by $0.09. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the business earned $4.32 EPS. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Roper Technologies, Inc. will post 18.24 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a $0.825 dividend. The ex-dividend date is Friday, January 3rd. This represents a $3.30 annualized dividend and a yield of 0.60%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is presently 24.14%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ROP. Barclays reaffirmed an “underweight” rating and issued a $569.00 price objective (down from $625.00) on shares of Roper Technologies in a research note on Thursday. Truist Financial restated a “buy” rating and issued a $665.00 price target (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Robert W. Baird lifted their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada cut 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. Finally, Mizuho lifted their price objective on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $615.20.

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.