King Luther Capital Management Corp Sells 6,788 Shares of Roper Technologies, Inc. (NYSE:ROP)

King Luther Capital Management Corp cut its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 1.1% during the 3rd quarter, Holdings Channel reports. The firm owned 593,393 shares of the industrial products company’s stock after selling 6,788 shares during the period. Roper Technologies makes up 1.4% of King Luther Capital Management Corp’s holdings, making the stock its 16th largest holding. King Luther Capital Management Corp’s holdings in Roper Technologies were worth $330,188,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in ROP. Ledyard National Bank boosted its position in shares of Roper Technologies by 2.1% during the 3rd quarter. Ledyard National Bank now owns 896 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 18 shares in the last quarter. Western Financial Corp CA increased its stake in shares of Roper Technologies by 1.1% in the 2nd quarter. Western Financial Corp CA now owns 1,727 shares of the industrial products company’s stock valued at $973,000 after purchasing an additional 19 shares during the last quarter. AMG National Trust Bank raised its holdings in shares of Roper Technologies by 5.1% during the 2nd quarter. AMG National Trust Bank now owns 391 shares of the industrial products company’s stock worth $220,000 after buying an additional 19 shares in the last quarter. Covestor Ltd boosted its stake in Roper Technologies by 50.0% in the first quarter. Covestor Ltd now owns 60 shares of the industrial products company’s stock valued at $34,000 after buying an additional 20 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Roper Technologies by 58.8% in the second quarter. Versant Capital Management Inc now owns 54 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 20 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Richard F. Wallman sold 1,000 shares of the firm’s stock in a transaction dated 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 directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.87% of the company’s stock.

Roper Technologies Stock Performance

Shares of Roper Technologies stock opened at $549.45 on Thursday. The company has a market cap of $58.92 billion, a P/E ratio of 30.65, a PEG 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. The business has a 50-day moving average price of $552.21 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.

Roper Technologies (NYSE:ROP) last posted 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 net margin of 21.78% and a return on equity of 10.73%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business posted $4.32 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.825 per share. This represents a $3.30 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio (DPR) is currently 21.95%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ROP. Truist Financial reaffirmed a “buy” rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Royal Bank of Canada dropped their price target 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. Jefferies Financial Group boosted their price objective on 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 raised their price objective on shares of Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Mizuho boosted their target price 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. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

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.