Roper Technologies, Inc. (NYSE:ROP) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lessened its holdings in shares of Roper Technologies, Inc. (NYSE:ROP) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,978 shares of the industrial products company’s stock after selling 8,279 shares during the period. Martingale Asset Management L P’s holdings in Roper Technologies were worth $27,253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. grew 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 acquiring an additional 102,199 shares during the period. Mackenzie Financial Corp boosted its position 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 lifted its position in shares of Roper Technologies by 7.6% in the second quarter. Legal & General Group Plc now owns 914,499 shares of the industrial products company’s stock valued at $515,467,000 after acquiring an additional 64,565 shares in the last quarter. Mirova US LLC lifted its position in shares of Roper Technologies by 2.1% in the second quarter. Mirova US LLC now owns 700,651 shares of the industrial products company’s stock valued at $394,929,000 after acquiring an additional 14,501 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Roper Technologies by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 648,903 shares of the industrial products company’s stock valued at $361,076,000 after acquiring an additional 9,653 shares in the last quarter. Institutional investors and hedge funds own 93.31% of the company’s stock.

Wall Street Analyst Weigh In

ROP has been the topic of several recent research reports. Truist Financial restated a “buy” rating and issued a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Robert W. Baird upped their price target on Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Mizuho upped their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada lowered 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. Finally, Jefferies Financial Group increased their target price on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $620.80.

Insider Buying and Selling

In related news, Director Richard F. Wallman sold 1,000 shares of the firm’s 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 sale, the director now owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. This trade represents a 2.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.87% of the company’s stock.

Roper Technologies Trading Up 0.4 %

Shares of ROP opened at $564.35 on Friday. 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 stock has a 50-day moving average price of $553.01 and a 200 day moving average price of $550.14. Roper Technologies, Inc. has a one year low of $508.22 and a one year high of $579.10. The company has a market capitalization of $60.52 billion, a P/E ratio of 41.28, a P/E/G ratio of 2.95 and a beta of 1.03.

Roper Technologies (NYSE:ROP) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $4.62 EPS 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 the consensus estimate of $1.72 billion. During the same quarter last year, the business posted $4.32 EPS. Roper Technologies’s quarterly revenue was up 11.7% compared to the same quarter last year. Sell-side analysts forecast 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. Investors of record on Friday, January 3rd will be issued a $0.825 dividend. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, January 3rd. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. Roper Technologies’s dividend payout ratio (DPR) is 21.95%.

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.