Roper Technologies, Inc. (NYSE:ROP) Stake Decreased by Boston Family Office LLC

Boston Family Office LLC decreased its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,467 shares of the industrial products company’s stock after selling 607 shares during the period. Roper Technologies accounts for about 1.4% of Boston Family Office LLC’s investment portfolio, making the stock its 23rd largest holding. Boston Family Office LLC’s holdings in Roper Technologies were worth $21,405,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Roper Technologies by 4.0% during the second quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock worth $1,512,813,000 after purchasing an additional 102,199 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Roper Technologies by 3.1% during 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 in the last quarter. Legal & General Group Plc raised its holdings 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 purchasing an additional 64,565 shares in the last quarter. Mirova US LLC raised its holdings in Roper Technologies by 2.1% during the second quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock worth $394,929,000 after purchasing an additional 14,501 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Roper Technologies by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock worth $361,076,000 after purchasing an additional 9,653 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Insider Activity at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now directly owns 32,955 shares in the company, valued at approximately $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ROP shares. Mizuho lifted their price target on shares of Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada decreased 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. Jefferies Financial Group lifted their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Robert W. Baird lifted their price target on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial reiterated a “buy” rating and set a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Roper Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $620.80.

Roper Technologies Stock Performance

NYSE:ROP opened at $560.14 on Monday. The firm’s 50-day moving average is $552.43 and its 200-day moving average is $549.43. Roper Technologies, Inc. has a 52-week low of $508.22 and a 52-week high of $579.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.44 and a current ratio of 0.48. The company has a market cap of $60.06 billion, a price-to-earnings ratio of 31.33, a PEG ratio of 2.93 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last posted 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. The company had revenue of $1.75 billion for 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%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.32 EPS. Equities research analysts anticipate that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be paid 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 yield of 0.59%. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is presently 21.95%.

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.