Brophy Wealth Management LLC Makes New $356,000 Investment in Roper Technologies, Inc. (NYSE:ROP)

Brophy Wealth Management LLC purchased a new position in shares of Roper Technologies, Inc. (NYSE:ROP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 640 shares of the industrial products company’s stock, valued at approximately $356,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Roper Technologies by 2.9% during the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after purchasing an additional 132,575 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Roper Technologies by 4.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,683,909 shares of the industrial products company’s stock valued at $1,512,813,000 after acquiring an additional 102,199 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of Roper Technologies by 3.1% in the 2nd quarter. Mackenzie Financial Corp now owns 1,119,023 shares of the industrial products company’s stock valued at $630,749,000 after acquiring an additional 33,544 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Roper Technologies by 7.6% in the 2nd 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. Finally, Wellington Management Group LLP increased its stake in shares of Roper Technologies by 87.8% in the 3rd quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after acquiring an additional 345,268 shares in the last quarter. Institutional investors own 93.31% of the company’s stock.

Insider Buying and Selling at Roper Technologies

In other news, Director Richard F. Wallman sold 1,000 shares of the company’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 sale, the director now directly owns 32,955 shares in the company, valued at $18,125,250. This represents a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ROP. Robert W. Baird boosted their price target 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. Mizuho boosted their price target 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. Truist Financial reaffirmed a “buy” rating and set a $665.00 price objective (up from $660.00) on shares of Roper Technologies in a report on Thursday, October 24th. Jefferies Financial Group lifted their price objective on shares of Roper Technologies from $625.00 to $635.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Barclays reaffirmed an “underweight” rating and set a $569.00 price objective (down from $625.00) on shares of Roper Technologies in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $615.20.

Roper Technologies Price Performance

Shares of NYSE:ROP opened at $549.47 on Wednesday. The company’s 50-day moving average is $554.14 and its 200 day moving average is $551.56. 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 capitalization of $58.92 billion, a P/E ratio of 40.20, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02. Roper Technologies, Inc. has a fifty-two week low of $508.22 and a fifty-two week high of $580.09.

Roper Technologies (NYSE:ROP) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating the consensus estimate of $4.53 by $0.09. The business 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 company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.32 earnings per share. On average, equities research analysts forecast that Roper Technologies, Inc. will post 18.24 earnings per share for the current year.

Roper Technologies Increases Dividend

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

Roper Technologies 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.