Woodstock Corp Cuts Stake in Roper Technologies, Inc. (NYSE:ROP)

Woodstock Corp lessened its holdings in Roper Technologies, Inc. (NYSE:ROP) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,306 shares of the industrial products company’s stock after selling 300 shares during the quarter. Woodstock Corp’s holdings in Roper Technologies were worth $5,877,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Roper Technologies by 2.9% in the third quarter. State Street Corp now owns 4,730,427 shares of the industrial products company’s stock worth $2,632,199,000 after buying an additional 132,575 shares during the period. Geode Capital Management LLC grew its position 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 acquiring an additional 51,131 shares during the last quarter. Mackenzie Financial Corp increased its stake 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 purchasing an additional 33,544 shares during the period. Legal & General Group Plc lifted its position in 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 purchasing an additional 64,565 shares during the last quarter. Finally, Wellington Management Group LLP boosted 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 purchasing an additional 345,268 shares during the period. 93.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on ROP. Robert W. Baird lifted their target price on shares of Roper Technologies from $635.00 to $652.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Truist Financial restated a “buy” rating and issued 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 target price 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. Barclays reduced their price target on Roper Technologies from $569.00 to $562.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Finally, Royal Bank of Canada lowered their price target on Roper Technologies from $675.00 to $666.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Roper Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $623.33.

Insider Buying and Selling at Roper Technologies

In other Roper Technologies news, Director Richard F. Wallman sold 1,000 shares of the business’s stock in a transaction 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 directly owns 32,955 shares of the company’s stock, valued at approximately $18,125,250. The trade was a 2.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Roper Technologies Stock Up 0.2 %

ROP stock opened at $519.10 on Friday. The company has a market capitalization of $55.66 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.40 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 business’s 50 day moving average price is $540.75 and its two-hundred day moving average price is $546.48. Roper Technologies, Inc. has a fifty-two week low of $499.47 and a fifty-two week high of $580.09.

Roper Technologies (NYSE:ROP) last announced its earnings results 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. The firm had revenue of $1.75 billion for 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 company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.32 EPS. As a group, analysts forecast that Roper Technologies, Inc. will post 18.29 earnings per share for the current fiscal 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 $0.825 dividend. This represents a $3.30 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Friday, January 3rd. This is a boost from Roper Technologies’s previous quarterly dividend of $0.75. Roper Technologies’s dividend payout ratio 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.