Portfolio Design Labs LLC Sells 862 Shares of Roper Technologies, Inc. (NYSE:ROP)

Portfolio Design Labs LLC lessened its holdings in Roper Technologies, Inc. (NYSE:ROP) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,047 shares of the industrial products company’s stock after selling 862 shares during the quarter. Portfolio Design Labs LLC’s holdings in Roper Technologies were worth $2,808,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. New Covenant Trust Company N.A. bought a new position in shares of Roper Technologies during the first quarter valued at $25,000. Fairscale Capital LLC acquired a new stake in Roper Technologies in the second quarter valued at $28,000. Fortitude Family Office LLC bought a new position in Roper Technologies during the 3rd quarter worth $28,000. Versant Capital Management Inc lifted its holdings in Roper Technologies by 58.8% during the 2nd quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock worth $30,000 after buying an additional 20 shares during the period. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Roper Technologies in the 2nd quarter valued at about $31,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ROP shares. Royal Bank of Canada cut their price objective on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. 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 increased their price objective 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. Baird R W raised shares of Roper Technologies from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group upped their price target on shares of Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $620.80.

Roper Technologies Trading Down 0.3 %

ROP opened at $547.96 on Wednesday. The company has a fifty day moving average price of $552.22 and a two-hundred day moving average price of $548.68. Roper Technologies, Inc. has a 1-year low of $508.22 and a 1-year high of $579.10. The company has a market cap of $58.76 billion, a P/E ratio of 40.08, a price-to-earnings-growth ratio of 2.86 and a beta of 1.03. The company has a current ratio of 0.48, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41.

Roper Technologies (NYSE:ROP) last issued its 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 company had revenue of $1.75 billion for 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. Roper Technologies’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts predict that Roper Technologies, Inc. will post 18.24 EPS 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 paid a dividend of $0.825 per share. 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 0.60%. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is 21.95%.

Insiders Place Their Bets

In related news, Director Richard F. Wallman sold 1,000 shares of Roper Technologies stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $550.00, for a total transaction of $550,000.00. Following the transaction, the director now owns 32,955 shares of the company’s stock, valued at $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company’s stock.

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.