Roper Technologies (NYSE:ROP) Given New $562.00 Price Target at Barclays

Roper Technologies (NYSE:ROP) had its price target reduced by Barclays from $569.00 to $562.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an underweight rating on the industrial products company’s stock.

ROP has been the subject of a number of other research reports. Oppenheimer began coverage on shares of Roper Technologies in a report on Monday, December 23rd. They issued an “outperform” rating and a $630.00 target price for the company. Mizuho raised 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 lowered their price target on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird lifted their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial reiterated a “buy” rating and issued a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $623.33.

Roper Technologies Price Performance

ROP stock opened at $510.30 on Wednesday. The stock has a 50-day moving average price of $544.32 and a two-hundred day moving average price of $548.29. Roper Technologies has a 1 year low of $504.30 and a 1 year high of $580.09. 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 stock has a market cap of $54.72 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.84 and a beta of 1.04.

Roper Technologies (NYSE:ROP) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.53 by $0.09. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. Roper Technologies’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $4.32 EPS. Equities analysts forecast that Roper Technologies will post 18.26 EPS 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. Stockholders of record on Friday, January 3rd will be paid a $0.825 dividend. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Friday, January 3rd. Roper Technologies’s dividend payout ratio is currently 24.14%.

Insider Transactions at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Roper Technologies

Institutional investors have recently modified their holdings of the business. State Street Corp boosted its position in Roper Technologies by 2.9% in the third 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. Geode Capital Management LLC boosted its position in Roper Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after purchasing an additional 51,131 shares during the last quarter. Mackenzie Financial Corp boosted its position in Roper Technologies by 3.1% in the second quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock worth $630,749,000 after purchasing an additional 33,544 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Roper Technologies by 7.6% in the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock worth $515,467,000 after buying an additional 64,565 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Roper Technologies by 87.8% in the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock worth $410,977,000 after buying an additional 345,268 shares during the period. 93.31% of the stock is owned by hedge funds and other institutional investors.

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.