Everence Capital Management Inc. Trims Position in Roper Technologies, Inc. (NYSE:ROP)

Everence Capital Management Inc. lessened its position in shares of Roper Technologies, Inc. (NYSE:ROP) by 20.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,400 shares of the industrial products company’s stock after selling 1,100 shares during the quarter. Everence Capital Management Inc.’s holdings in Roper Technologies were worth $2,287,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ROP. State Street Corp boosted its holdings in 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 worth $2,632,199,000 after acquiring an additional 132,575 shares during the period. Geode Capital Management LLC grew its holdings 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 valued at $1,357,162,000 after purchasing an additional 51,131 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in 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 buying an additional 33,544 shares in the last quarter. Legal & General Group Plc boosted its position in 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 buying an additional 64,565 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Roper Technologies by 87.8% during 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 acquiring an additional 345,268 shares in the last quarter. Hedge funds and other institutional investors own 93.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ROP shares. Robert W. Baird increased their price objective 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. Royal Bank of Canada decreased their price objective on shares of Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Truist Financial reaffirmed a “buy” rating and set a $665.00 price objective (up previously from $660.00) on shares of Roper Technologies in a research report on Thursday, October 24th. Mizuho increased their price target on Roper Technologies from $530.00 to $565.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Oppenheimer assumed coverage on Roper Technologies in a research report on Monday, December 23rd. They issued an “outperform” rating and a $630.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $615.20.

Insiders Place Their Bets

In other news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $550.00, for a total value of $550,000.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by corporate insiders.

Roper Technologies Stock Performance

Shares of Roper Technologies stock traded up $3.08 during trading hours on Friday, reaching $516.05. The company had a trading volume of 104,877 shares, compared to its average volume of 369,650. Roper Technologies, Inc. has a one year low of $508.22 and a one year high of $580.09. The firm has a market cap of $55.34 billion, a PE ratio of 37.75, a price-to-earnings-growth ratio of 2.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.48 and a quick ratio of 0.44. The business has a fifty day simple moving average of $547.20 and a 200 day simple moving average of $549.73.

Roper Technologies (NYSE:ROP) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the business earned $4.32 earnings per share. Roper Technologies’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts anticipate that Roper Technologies, Inc. will post 18.26 earnings per share for the current fiscal year.

Roper Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be given a $0.825 dividend. This is a positive change 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 0.64%. Roper Technologies’s dividend payout ratio (DPR) is 24.14%.

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.