Salem Investment Counselors Inc. Lowers Position in Roper Technologies, Inc. (NYSE:ROP)

Salem Investment Counselors Inc. trimmed its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 19.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,571 shares of the industrial products company’s stock after selling 3,909 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Roper Technologies were worth $8,614,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ROP. Capital Investment Advisors LLC increased its holdings in Roper Technologies by 5.9% in the 4th quarter. Capital Investment Advisors LLC now owns 3,050 shares of the industrial products company’s stock worth $1,586,000 after buying an additional 169 shares during the period. Fiduciary Alliance LLC purchased a new position in shares of Roper Technologies during the 4th quarter valued at approximately $1,232,000. Threadgill Financial LLC lifted its holdings in Roper Technologies by 9.7% in the 4th quarter. Threadgill Financial LLC now owns 5,345 shares of the industrial products company’s stock valued at $2,779,000 after purchasing an additional 474 shares in the last quarter. Czech National Bank lifted its holdings in Roper Technologies by 6.5% in the 4th quarter. Czech National Bank now owns 23,249 shares of the industrial products company’s stock valued at $12,086,000 after purchasing an additional 1,412 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of Roper Technologies by 13.7% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 7,186 shares of the industrial products company’s stock worth $3,735,000 after acquiring an additional 868 shares during the last quarter. 93.31% of the stock is owned by hedge funds and other institutional investors.

Roper Technologies Stock Performance

NYSE:ROP traded up $5.33 during trading hours on Monday, reaching $508.04. 224,720 shares of the stock were exchanged, compared to its average volume of 637,074. The stock has a market capitalization of $54.48 billion, a P/E ratio of 37.16, a P/E/G ratio of 2.84 and a beta of 1.04. Roper Technologies, Inc. has a 52 week low of $499.47 and a 52 week high of $580.09. The company has a quick ratio of 0.44, a current ratio of 0.48 and a debt-to-equity ratio of 0.41. The firm has a 50 day simple moving average of $543.00 and a 200-day simple moving average of $547.43.

Roper Technologies (NYSE:ROP) last issued its quarterly 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 company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a return on equity of 10.73% and a net margin of 21.78%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the firm earned $4.32 EPS. As a group, sell-side analysts forecast that Roper Technologies, Inc. will post 18.26 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a $0.825 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.65%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is currently 24.14%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and issued a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Royal Bank of Canada decreased their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays cut their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird lifted their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Mizuho boosted their target price on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $623.33.

Insider Buying and Selling

In other news, Director Richard F. Wallman sold 1,000 shares of the 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.87% of the stock is owned by insiders.

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.