Harbor Investment Advisory LLC Reduces Holdings in Roper Technologies, Inc. (NYSE:ROP)

Harbor Investment Advisory LLC trimmed its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 7.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 434 shares of the industrial products company’s stock after selling 33 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Roper Technologies were worth $226,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ROP. Wellington Management Group LLP boosted its stake in 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 worth $410,977,000 after buying an additional 345,268 shares during the period. Loomis Sayles & Co. L P boosted its stake in Roper Technologies by 25.8% during the third quarter. Loomis Sayles & Co. L P now owns 648,427 shares of the industrial products company’s stock worth $360,811,000 after buying an additional 132,913 shares during the period. State Street Corp boosted its stake in Roper Technologies by 2.9% during 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 buying an additional 132,575 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in Roper Technologies by 37.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 427,943 shares of the industrial products company’s stock worth $238,125,000 after buying an additional 116,523 shares during the period. Finally, Legal & General Group Plc boosted its stake in Roper Technologies by 7.6% during 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. 93.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada lowered 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 boosted their target price on shares of Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their target price 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. Oppenheimer assumed coverage on shares of Roper Technologies in a research note on Monday, December 23rd. They set an “outperform” rating and a $630.00 target price for the company. Finally, Truist Financial reissued a “buy” rating and set a $665.00 target price (up from $660.00) on shares of Roper Technologies in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $624.38.

Roper Technologies Stock Up 0.7 %

NYSE:ROP opened at $534.45 on Thursday. Roper Technologies, Inc. has a 1-year low of $499.47 and a 1-year high of $580.09. The company has a 50-day moving average of $537.24 and a 200 day moving average of $545.29. The firm has a market cap of $57.31 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 2.49 and a beta of 1.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44.

Roper Technologies (NYSE:ROP) last released its quarterly earnings data 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 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 analyst estimates of $1.72 billion. During the same period in the prior year, the firm earned $4.32 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts anticipate that Roper Technologies, Inc. will post 18.29 EPS for the current fiscal year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were issued a $0.825 dividend. The ex-dividend date was Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a yield of 0.62%. Roper Technologies’s payout ratio is currently 24.14%.

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.