Red Door Wealth Management LLC Has $4.66 Million Holdings in Roper Technologies, Inc. (NYSE:ROP)

Red Door Wealth Management LLC increased its stake in Roper Technologies, Inc. (NYSE:ROP) by 8.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,956 shares of the industrial products company’s stock after purchasing an additional 702 shares during the quarter. Red Door Wealth Management LLC’s holdings in Roper Technologies were worth $4,656,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROP. State Street Corp raised its position in shares of Roper Technologies by 2.9% in the 3rd quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock valued at $2,632,199,000 after buying an additional 132,575 shares in the last quarter. Geode Capital Management LLC raised its stake in Roper Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,447,026 shares of the industrial products company’s stock worth $1,357,162,000 after buying an additional 51,131 shares during the period. Mackenzie Financial Corp lifted its holdings 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 worth $630,749,000 after purchasing an additional 33,544 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of 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 valued at $515,467,000 after buying an additional 64,565 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Roper Technologies by 87.8% in the third quarter. Wellington Management Group LLP now owns 738,582 shares of the industrial products company’s stock valued at $410,977,000 after purchasing an additional 345,268 shares in the last quarter. 93.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ROP shares. Barclays reduced their price target on shares of Roper Technologies from $569.00 to $562.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Mizuho upped their price target 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. Oppenheimer started coverage on shares of Roper Technologies in a research report on Monday, December 23rd. They set an “outperform” rating and a $630.00 target price for the company. Robert W. Baird raised their price objective on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Truist Financial restated a “buy” rating and set a $665.00 price target (up from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $624.38.

Roper Technologies Stock Down 0.2 %

NYSE:ROP opened at $533.24 on Friday. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $580.09. The stock has a market capitalization of $57.18 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.55 and a beta of 1.04. 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’s 50-day simple moving average is $536.51 and its 200-day simple moving average is $545.22.

Roper Technologies (NYSE:ROP) last issued 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 firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the business earned $4.32 earnings per share. The company’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Roper Technologies, Inc. will post 18.29 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a $0.825 dividend. The ex-dividend date was Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. This represents a $3.30 dividend on an annualized basis and a dividend yield of 0.62%. Roper Technologies’s dividend payout ratio (DPR) is 24.14%.

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.