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

Martingale Asset Management L P trimmed its stake in Roper Technologies, Inc. (NYSE:ROP) by 14.5% during the third quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. ORG Partners LLC boosted its position in shares of Roper Technologies by 764.2% in the second quarter. ORG Partners LLC now owns 1,158 shares of the industrial products company’s stock worth $652,000 after buying an additional 1,024 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Roper Technologies by 1.0% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 240,633 shares of the industrial products company’s stock worth $136,455,000 after buying an additional 2,399 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Roper Technologies by 5.4% in the third quarter. PNC Financial Services Group Inc. now owns 34,652 shares of the industrial products company’s stock worth $19,282,000 after buying an additional 1,789 shares during the period. Citigroup Inc. boosted its position in Roper Technologies by 17.6% during the third quarter. Citigroup Inc. now owns 190,587 shares of the industrial products company’s stock valued at $106,050,000 after purchasing an additional 28,555 shares during the last quarter. Finally, PGGM Investments boosted its position in Roper Technologies by 739.4% during the second quarter. PGGM Investments now owns 72,596 shares of the industrial products company’s stock valued at $40,919,000 after purchasing an additional 63,947 shares during the last quarter. 93.31% of the stock is currently owned by institutional investors and hedge funds.

Roper Technologies Price Performance

Shares of ROP stock opened at $564.35 on Friday. The stock has a 50 day moving average of $553.01 and a two-hundred day moving average of $550.14. 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 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, Inc. has a 12 month low of $508.22 and a 12 month high of $579.10.

Roper Technologies (NYSE:ROP) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.53 by $0.09. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Roper Technologies had a net margin of 21.78% and a return on equity of 10.73%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.32 EPS. As a group, equities analysts expect that Roper Technologies, Inc. will post 18.24 EPS for the current year.

Roper Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be paid a $0.825 dividend. This represents a $3.30 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Friday, January 3rd. This is an increase from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s payout ratio is currently 21.95%.

Analyst Ratings Changes

A number of research firms recently issued reports on ROP. Mizuho lifted their price objective on Roper Technologies from $530.00 to $565.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Truist Financial reissued 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. Jefferies Financial Group lifted their price objective on Roper Technologies from $625.00 to $635.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Robert W. Baird lifted their price objective on Roper Technologies from $635.00 to $652.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada cut their target price on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three equities 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $620.80.

Insider Buying and Selling

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 value of $550,000.00. Following the completion of the sale, the director now directly owns 32,955 shares of the company’s stock, valued at $18,125,250. This represents a 2.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by corporate insiders.

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.